NASDAQ$UNIT

Uniti Group Inc · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Reported record consolidated new bookings and gross install activity.

Uniti Group Inc. reported consolidated revenues of $283.7 million for the fourth quarter of 2022. Net income and Adjusted EBITDA were $41.0 million and $228.9 million, respectively. AFFO attributable to common shareholders was $115.3 million, or $0.44 per diluted common share.

  • Net Income of $41.0 million for the Fourth Quarter
  • Net Income of $0.13 Per Diluted Common Share for the Fourth Quarter
  • AFFO Per Diluted Common Share of $0.44 for the Fourth Quarter
  • Consolidated revenues for the fourth quarter of 2022 were $283.7 million

Headline financials

Total Revenue

$284M

Previous: $293M-3.2%
EPS (adj)

$0.44

Previous: $0.44+0.0%
Capital Expenditures

$428M

Previous: $386M+10.8%
Free Cash Flow

-$253M

Previous: -$240M-5.2%
Net Income

$41M

Previous: $35.9M+14.1%
Operating Income

$33.1M

Previous: $30.2M+9.8%
Gross Profit

$281M

Previous: $250M+12.4%
Cash & Equivalents

$43.8M

Previous: $58.9M-25.6%
Total Assets

$4.85B

Previous: $4.81B+0.9%
Stock-Based Comp

$3.09M

Previous: $2.88M+7.0%

Revenue & EPS history

Uniti · Revenue · Quarterly

$284M

Q4 2022-3.2%vs Q4 2021
Beat estimate in 7 of 14 quarters(50%)
ActualEstimate

Revenue by segment

Uniti · $75.2M total across 1 segment · Q4 2022

  • Fiber Infrastructure
    $75.2M-8.3%

Forward guidance

The Company’s consolidated outlook for 2023 includes the estimated impact from the Convertible Notes and 2028 Notes offerings and related redemptions. Our outlook excludes future acquisitions, capital market transactions, and future transaction-related and other costs not mentioned herein.

Tailwinds

  • Revenue $1,154 to $1,174 million
  • Net income attributable to common shareholders 46 to 66 million
  • Adjusted EBITDA 915 to 935 million
  • FFO 267 to 287 million
  • AFFO 367 to 387 million

Headwinds

  • Interest expense, net 550 million

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 2022

Historical avgQ4 2022

-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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