NASDAQ$FYBR

Frontier Communications Parent Inc · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Frontier delivered record operational results and raised cost saving target.

Frontier Communications reported consolidated revenue of $1.44 billion and a net income of $120 million for Q3 2022. The company built fiber to a record 351,000 locations and added a record 66,000 fiber broadband customers. They also nearly achieved their $250 million gross annual cost savings target more than one year ahead of plan, enabling them to raise their target to $400 million by the end of 2024.

  • Built fiber to a record 351,000 locations, reaching a total of 4.8 million fiber locations.
  • Added a record 66,000 fiber broadband customers, a 15.8% increase compared to Q3 2021.
  • Revenue was reported at $1.44 billion, with a net income of $120 million.
  • The company is raising its cost savings target to $400 million by the end of 2024.

Headline financials

Total Revenue

$1.44B

Previous: $1.58B-8.4%
EPS (adj)

$0.49

Previous: $0.51-3.9%
Net Income

$120M

Previous: $126M-4.8%
Operating Income

$169M

Previous: $284M-40.5%
Gross Profit

$882M

No prior period
Cash & Equivalents

$230M

No prior period
Total Assets

$18.3B

No prior period
Stock-Based Comp

$19M

No prior period

Revenue & EPS history

Frontier Communications · Revenue · Quarterly

$1.44B

Q3 2022-8.4%vs Q3 2021
Beat estimate in 8 of 16 quarters(50%)
ActualEstimate

Revenue by segment

Frontier Communications · $2.38B total across 4 segments · Q3 2020

  • Consumer
    $859M-8.9%
  • Data & Internet
    $838M—
  • Voice Services
    $500M—
  • Video Services
    $186M—

Forward guidance

Frontier reaffirmed its operational and financial guidance expectations for 2022.

Tailwinds

  • Adjusted EBITDA of $2.05 - $2.15 billion
  • Fiber build of 1.1 - 1.2 million new locations
  • Cash capital expenditures of $2.50 - $2.60 billion
  • Cash taxes of approximately $20 million
  • Net cash interest payments of approximately $485 million

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 8 quarterly earnings reports

Historical avg

+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

Earnings price reactions
QuarterReport dateReaction (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%——
Q1 2021———
Q4 2020———
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