NASDAQ$FYBR
Frontier Communications Parent Inc · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Frontier Communications reported its Q1 2023 results, achieving EBITDA growth for the first time in five years and adding a record number of fiber broadband customers.
Frontier Communications reported a revenue of $1.44 billion and a net income of $3 million. The company achieved EBITDA growth for the first time in five years, driven by strong operational performance and increased focus on working capital management. Frontier added a record 87,000 fiber broadband customers and raised its cost savings target by $100 million one year ahead of plan.
- Delivered year-over-year EBITDA growth for the first time in more than five years.
- Added a record 87,000 fiber broadband customers.
- Revenue of $1.44 billion, net income of $3 million and Adjusted EBITDA of $519 million.
- Raised cost savings target by $100 million one year ahead of plan.
Headline financials
Revenue & EPS history
Frontier Communications · Revenue · Quarterly
$1.44B
Revenue by segment
Frontier Communications · $2.38B total across 4 segments · Q3 2020
- Consumer$859M-8.9%36.0%
- Data & Internet$838M—35.2%
- Voice Services$500M—21.0%
- Video Services$186M—7.8%
Forward guidance
Frontier reaffirmed its 2023 guidance for Adjusted EBITDA, Fiber build, Cash taxes, Pension and OPEB expense, and Cash pension and OPEB contributions, while updating guidance for capital expenditures and interest expense.
Tailwinds
- Adjusted EBITDA of $2.11 - $2.16 billion
- Fiber build of 1.3 million new locations
- Cash taxes of approximately $20 million
- Pension and OPEB expense of approximately $50 million
- Cash pension and OPEB contributions of approximately $125 million
Headwinds
- Cash capital expenditures of $3.00 - $3.20 billion, an increase from prior guidance of $2.80 billion.
- Net cash interest payments of approximately $655 million, an increase from prior guidance of $630 million.
- Higher inventory levels
- Fiber build costs
- Debt raised in March 2023
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 8 quarterly earnings reports
+0.1%
Avg return
Earnings day
+1.1%
Avg return
5 days after
+2.5%
Avg return
30 days after
50%
9 / 18 earnings
Positive
+12.1%
Q4 2023
Best reaction
-12.8%
Q1 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q3 2025 | +0.3% | +0.2% | +0.4% | |
| Q2 2025 | +0.3% | +0.2% | +1.6% | |
| Q1 2025 | +0.1% | -0.5% | +1.5% | |
| Q4 2025 | +0.0% | +0.5% | +0.0% | |
| Q3 2024 | -1.0% | -2.6% | -2.6% | |
| Q2 2024 | -9.8% | -5.0% | -0.1% | |
| Q1 2024 | +9.5% | +5.6% | +11.1% | |
| Q4 2023 | +12.1% | +10.2% | +8.3% | |
| Q3 2023 | +6.8% | — | — | |
| Q2 2023 | -0.6% | — | — | |
| Q1 2023 | -12.8% | — | — | |
| Q4 2022 | -1.4% | — | — | |
| Q3 2022 | -8.3% | — | — | |
| Q2 2022 | +3.6% | — | — | |
| Q1 2022 | -4.0% | — | — | |
| Q4 2021 | +3.1% | — | — | |
| Q3 2021 | +3.9% | — | — | |
| Q2 2021 | -0.5% | — | — | |
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