NASDAQ$FYBR
Frontier Communications Parent Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Frontier reported strong operational results, including consumer revenue growth and EBITDA acceleration.
Frontier Communications reported third-quarter 2023 results, featuring the first consumer revenue increase as a new public company and an acceleration in EBITDA growth. The company's focus on fiber expansion and customer growth contributed to the positive results.
- Passed 332,000 new fiber locations.
- Added 79,000 fiber broadband customers, a 19% year-over-year increase.
- Revenue reached $1.44 billion, with a net income of $11 million and Adjusted EBITDA of $526 million.
- Capital expenditures totaled $671 million.
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 operational and financial expectations for 2023, while updating the net cash interest payments guidance.
Tailwinds
- Adjusted EBITDA of $2.11 - $2.16 billion.
- New fiber passings of 1.3 million.
- Cash capital expenditures of $3.00 - $3.20 billion.
- Cash taxes of approximately $20 million.
- Pension and OPEB expense of approximately $50 million (net of capitalization).
Headwinds
- Net cash interest payments of approximately $700 million, an increase from prior guidance of $655 million, reflecting the $1.6 billion of debt raised in August 2023.
- Economic uncertainty could limit access to capital.
- Inflationary pressures on costs.
- Potential disruptions in the supply chain.
- Competition from other carriers.
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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