Uniti Group Inc. Reports First Quarter 2025 Results

Core Insights - Uniti Group Inc. reported a strong start to 2025, with core recurring strategic fiber revenue growing approximately 4% year-over-year in Q1 2025, and consolidated bookings increasing by 40% compared to the same period last year [3][5] - The company is well-positioned to capitalize on emerging trends in communications infrastructure, particularly related to Generative AI and convergence, which enhance the demand for its fiber infrastructure [3] - Uniti's merger with Windstream received overwhelming investor approval, expected to close in Q3 2025, aiming to create a significant fiber powerhouse [4] Financial Performance - Consolidated revenues for Q1 2025 were $293.9 million, with net income of $12.2 million and Adjusted EBITDA of $237.8 million, resulting in an Adjusted EBITDA margin of approximately 81% [5][6] - Uniti Fiber generated $71.5 million in revenues and $28.8 million in Adjusted EBITDA, while Uniti Leasing contributed $222.4 million in revenues and $215.1 million in Adjusted EBITDA [6] - The company reported an AFFO of $92.3 million, equating to $0.35 per diluted common share for Q1 2025 [5][9] Liquidity and Debt - At the end of Q1 2025, Uniti had approximately $592.0 million in unrestricted cash and cash equivalents, with a leverage ratio of 6.09x based on net debt to annualized Adjusted EBITDA [7] Updated 2025 Outlook - Uniti updated its 2025 outlook, projecting consolidated revenues between $1,196 million and $1,216 million, net income attributable to common shareholders between $90 million and $110 million, and Adjusted EBITDA between $966 million and $986 million [10][38]