Uniti Group (UNIT -8.6%) is holding on to after-hours gains of 2.8% after mixed results in its Q2 earnings, where revenue and headline FFO came up short but adjusted earnings and EBITDA beat expectations.
Shares were rebounding after today's decline linked to former spin parent Windstream's 36% drop driven by its dividend cancellation.
Revenues of $213M rose 13% with a heavy boost from Fiber Infrastructure, and narrowly missed expectations. EBITDA came to $179.6M, beating an expected $178.1M.
Uniti Fiber added $35M to revenues and $12.6M to adjusted EBITDA for the quarter.
Shares were rebounding after today's decline linked to former spin parent Windstream's 36% drop driven by its dividend cancellation.
Revenues of $213M rose 13% with a heavy boost from Fiber Infrastructure, and narrowly missed expectations. EBITDA came to $179.6M, beating an expected $178.1M.
Uniti Fiber added $35M to revenues and $12.6M to adjusted EBITDA for the quarter.
Revenue breakout: Leasing, $170.9M (up 1.2%); Fiber infrastructure, $34.98M (up 154%); Towers, $2.46M (up 2,822%); Consumer CLEC, $4.66M (down 18.9%).
Cash and equivalents at quarter's end were $934M.
For the full year, it sees adjusted EBITDA of $748M-$753M (above an expected $742.3M), and adjusted FFO of $2.51-$2.55 (vs. consensus for $2.51).