NASDAQ$UNIT

Uniti Group Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Announced preliminary results for the fourth quarter and full year 2020.

Uniti Group Inc. reported preliminary fourth-quarter results with revenues of $275.3 million. The company refinanced its revolving credit facility and issued $1.11 billion of senior unsecured notes.

  • Consolidated revenues for the fourth quarter of 2020 are expected to be $275.3 million.
  • Net loss is expected to be $47.7 million for the same period.
  • AFFO attributable to common shareholders is expected to be $106.4 million, or $0.42 per diluted common share.
  • Uniti Fiber is expected to contribute $81.4 million of revenues and $30.8 million of Adjusted EBITDA for the fourth quarter of 2020.

Headline financials

Total Revenue

$275M

Previous: $269M+2.5%
EPS (adj)

$0.42

Previous: $0.48-12.5%
Adjusted EBITDA

$216M

No prior period
Capital Expenditures

$390M

Previous: $671M-41.8%
Free Cash Flow

-$346M

Previous: -$616M+43.8%
Net Income

-$47.7M

Previous: -$11.4M-319.9%
Operating Income

-$55.7M

Previous: -$16.8M-230.5%
Gross Profit

$234M

Previous: $227M+3.2%
Cash & Equivalents

$77.5M

Previous: $143M-45.7%
Total Assets

$4.73B

Previous: $5.02B-5.7%
Stock-Based Comp

$3.28M

Previous: $2.88M+13.8%

Revenue & EPS history

Uniti · Revenue · Quarterly

$275M

Q4 2020+2.5%vs Q4 2019
Beat estimate in 10 of 16 quarters(63%)
ActualEstimate

Revenue by segment

Uniti · $81.4M total across 1 segment · Q4 2020

  • Fiber Infrastructure
    $81.4M+2.5%

Forward guidance

The Company’s consolidated outlook for 2021 is as follows (in millions): Full Year 2021 Revenue $ 1,083 to $ 1,094 Net income attributable to common shareholders (1) 119 to 131 Adjusted EBITDA (2) 846 to 858

Tailwinds

  • Full Year 2021 Revenue $ 1,083 to $ 1,094
  • Net income attributable to common shareholders – Basic $ 0.51 to $ 0.57
  • FFO attributable to common shareholders – Basic (2) $ 1.43 to $ 1.48
  • AFFO attributable to common shareholders – Basic (3) $ 1.76 to $ 1.81
  • Depreciation and amortization 299

Headwinds

  • The components of projected future results may not add due to rounding.
  • Future transaction related and other costs are not included in our current outlook.
  • Capitalized interest (2)
  • The components of interest expense may not add to the total due to rounding.
  • There can be no assurance that our actual results will not differ materially from the estimates set forth above.

Historical earnings impact

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

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2020

Historical avgQ4 2020

-1.2%

Avg return

Earnings day

-0.7%

Avg return

5 days after

-0.7%

Avg return

30 days after

48%

19 / 40 earnings

Positive

+14.1%

Q1 2023

Best reaction

-26.4%

Q1 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.6%-2.0%+2.8%
Q4 2025+7.0%+10.0%+36.7%
Q3 2025+3.7%+7.5%+2.1%
Q2 2025-10.4%-21.5%-22.7%
Q1 2025-9.6%-9.6%-13.8%
Q4 2024+3.7%+5.2%-7.9%
Q3 2024-9.3%-0.4%+5.7%
Q2 2024+6.3%+7.6%+13.5%
Q1 2024-26.4%-35.8%-47.6%
Q4 2023+2.1%+11.3%+2.8%
Q3 2023+9.3%+6.7%+29.5%
Q2 2023-10.1%+1.3%+1.1%
Q1 2023+14.1%+19.1%+21.6%
Q4 2022-2.6%-10.4%-41.4%
Q3 2022+11.5%+15.3%-11.1%
Q2 2022-3.5%-2.4%-9.4%
Q1 2022-4.3%-16.1%-8.1%
Q4 2021+13.8%+21.7%+25.0%
Q3 2021-2.3%-3.6%-6.5%
Q2 2021+0.0%+8.1%+9.6%
Q1 2021-1.9%-5.2%-1.9%
Q4 2020+0.8%-9.4%-7.4%
Q3 2020-1.1%+0.3%+15.5%
Q2 2020-3.6%-7.0%-10.1%
Q1 2020-3.6%+5.0%+21.5%
Q4 2019-26.1%-24.5%-38.0%
Q3 2019-2.7%-9.3%+2.4%
Q2 2019+3.6%+7.8%-10.9%
Q1 2019+0.5%-3.4%-5.1%
Q4 2018+1.4%+3.4%+20.1%
Q3 2018+3.3%+4.1%+4.1%
Q2 2018+2.5%+8.5%+8.6%
Q1 2018+1.7%+3.9%+17.1%
Q4 2017-0.3%+2.3%+5.9%
Q3 2017-3.8%-2.9%-3.8%
Q2 2017-8.6%-8.3%-21.4%
Q1 2017-4.4%-6.2%-2.2%
Q4 2016+3.5%+6.0%-6.6%
Q3 2016-4.9%-5.0%+0.2%
Q2 2016+0.3%-1.3%+0.2%
Q1 2016
Q4 2015
Q3 2015
Q2 2015
Q1 2015
Q4 2014
Q3 2014
Q1 2014
Q4 2013
Q3 2013
Q2 2013
Q1 2013

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