Earnings Roundup: Uniti, GTT, Cogent, Consolidated, Windstream

August 4th, 2017 by · 5 Comments

Let's take a quick tour through a few other other earnings reports from network operators from yesterday:

Uniti Group posted revenues of $213M and a net loss of $0.11 per share on adjusted EBITDA of $179.6M.  The company's Uniti Fiber division contributed $35.0M in revenue and $12.6M in EBITDA to that total.  Interestingly, Uniti Fiber spent $26.4M in capex mostly on dark fiber builds in Georgia and Florida.  The purchases of Southern Light and Hunt closed on July 3, a few days after the quarter ended, and as a result Uniti Group updated its full year guidance to $913-918M in revenue and $748-753M in adjusted EBITDA.

GTT's second quarter results seemed to keep the markets happy as the company continues to integrate or prepare to integrate its recent acquisitions.   Revenues of $186.2M were basically inline with expectations, while earnings per share of $0.02 were a full nickel above the analyst consensus.  Between closing of the Hibernia Networks deal, the recent tuck-ins of Perseus and Giglinx, and the pending purchase of Global Capacity, GTT has had a busy year.

Cogent Communications jogged down a familiar path with its Q2 earnings, and when you're earning money and generating cash then familiar is a good thing.  Revenues were up 2.2% sequentially to $119.8M, upon which the company generated $40.1M in EBITDA and earned $0.10 per share.  While that technically missed analyst forecasts, the markets liked what they saw and the stock rose 4%.  Cogent added another two cents to its quarterly dividend, bringing the total up to $0.46 per share.

Consolidated Communications reported its numbers fresh off the closing of its purchase of Fairpoint last month.  Revenues of $170.0M and adjusted EBITDA of $72.5M led to adjusted earnings per share of $0.16, all of which appears to be what analysts expected to see.  Meanwhile Consolidated is pushing ahead with the integration, and just what they do with Fairpoint's assets will be an interesting story to watch over the next couple of years.

And Windstream checked in with revenues of $1.49B, adjusted OIBDAR of $500M, and a net loss of $0.37 per share.  Windstream recently closed its acquisition of Broadview and is in the process of integrating EarthLink.  But the markets focused in on the fact that the company eliminated its dividend, after which the stock price took a big hit as investors who were there for that dividend sought greener pastures.  Windstream also announced a $90M share buyback program.

Categories: CLEC · Fiber Networks · Financials · ILECs, PTTs

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