UNIT Stock Recent News

Uniti Group Inc. (NASDAQ:UNIT ) Q1 2024 Earnings Conference Call May 3, 2024 8:30 AM ET Company Participants Bill DiTullio - VP, IR Kenny Gunderman - CEO Paul Bullington - CFO Drew Smith - CFO, Windstream Holdings, Inc. Conference Call Participants David Barden - Bank of America Greg Williams - TD Cowen Frank Louthan - Raymond James Ana Goshko - Bank of America Bora Lee - RBC Capital Markets Jeff Harlib - Barclays Operator Good morning and welcome to today's conference call to discuss the Uniti and Windstream merger announcement and Uniti's First Quarter 2024 Earnings Results. My name is Michelle and I'll be your operator for today.

Uniti Group is merging with Windstream, the company it was spun out of almost 10 years ago. The merger will apparently allow Windstream to accelerate network investments and provide enhanced services to customers. The combined company will primarily be a telecom that owns its own fiber network.

The headline numbers for Uniti (UNIT) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Uniti Group (UNIT) came out with quarterly funds from operations (FFO) of $0.32 per share, missing the Zacks Consensus Estimate of $0.35 per share. This compares to FFO of $0.39 per share a year ago.

Uniti (UNIT) witnessed a jump in share price last session on above-average trading volume. The latest trend in FFO estimate revisions for the stock doesn't suggest further strength down the road.

LITTLE ROCK, Ark., April 23, 2024 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti”) (Nasdaq: UNIT) announced today that it will report its first quarter 2024 financial results prior to the opening of trading on the Nasdaq Stock Exchange on May 3, 2024. A conference call to discuss those earnings will be held the same day at 8:30 AM Eastern Time.

Uniti Group owns valuable fiber assets but struggles with high leverage and debt servicing costs. Two pathways for UNIT stock to overcome its debt burden: lease-up of existing fiber capacity and sale of assets or the company. The demand for fiber is increasing due to 5G and AI, creating opportunities for the Company to generate more cash flow and potentially improve its financial situation.

Uniti Group, a REIT, has a high yield of around 9%, but there are many challenges and uncertainties surrounding the company. The majority of Uniti's revenues come from its leasing segment, with a significant portion derived from its contract with Windstream. Uniti's debt exceeds the reported value of its assets, posing risks to shareholders in the event of a crisis.

While the top- and bottom-line numbers for Uniti (UNIT) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Beyond analysts' top -and-bottom-line estimates for Uniti (UNIT), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2023.