In Q1, Frontier Communications Added 322K Fiber Passings to Reach 6.8M Total Locations, Added 88K Fiber Broadband Customers
Portfolio Pulse from Benzinga Newsdesk
In Q1, Frontier Communications (FYBR) reported significant growth with 322,000 new fiber passings, reaching a total of 6.8 million locations. The company added 88,000 fiber broadband customers, marking an 18% year-over-year increase. Revenue rose to $1.46 billion, a 1.5% increase from the previous year, driven by fiber product growth but tempered by declines in copper-based products. Operating income was $90 million, with a net income of $1 million. Adjusted EBITDA grew by 5.4% to $547 million, attributed to revenue growth and cost savings. The company's total cash capital investment was $1.0 billion, with net cash from operations at $335 million.
May 03, 2024 | 11:16 am
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Frontier Communications showcased strong Q1 performance with significant fiber expansion and customer growth, alongside a modest revenue increase and a solid adjusted EBITDA improvement.
The positive Q1 results for Frontier Communications, highlighted by substantial growth in fiber passings and customer base, alongside revenue growth and improved adjusted EBITDA, suggest a strong short-term bullish outlook for FYBR. The company's focus on expanding its fiber network and the resulting growth in fiber broadband customers are likely to be viewed positively by investors, potentially leading to an increase in stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100