Zayo posted its fiscal Q3 numbers yesterday after the market closed. With the acquisition of Electric Lightwave closing on March 1, it is another of those quarters where the numbers are shifting and the way the company reports them is still evolving. Here are a few of their numbers in some context:
|$ in millions||Fiscal
|Adj. EBITDA Margin||50.8%||50.8%||51.6%||52.0%||51.2%|
Revenues of $550.2 were up sequentially, but slightly below where analysts were looking for. Of that total, $70.9M came from the more CLEC-oriented piece of Allstream up in Canada. The detailed breakdown beyond that is something I'll have to spend a bit of time on as it all shakes out. As for the breakdown of infrastructure revenues, 38% of revenues came from fiber solutions, 11% from colo, 23% from transport, and 36% from enterprise networks.
Adjusted EBITDA margins held steady at above 51% off of a total of $282.0M, which helped adjusted earnings per share land at $0.13, a few pennies above expectations. Capex checked in at $280.3M, while free cash flow was $54.1M.
Operationally, Zayo's on-net building count surged to just shy of 30K, a milestone they will likely pass this summer organically.
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