FYBR - Frontier Communications Parent beats Q4 top and bottom line estimates; initiates FY23 outlook

• Frontier Communications Parent press release ( NASDAQ: FYBR ): Q4 GAAP EPS of $0.63 beats by $0.43 .
• Revenue of $1.44B (-6.5% Y/Y) beats by $10M .
• Built fiber to a record 381,000 locations.
• Adjusted EBITDA of $528M.
• Added a record 76,000 fiber broadband customers.
• Achieved annualized run-rate cost savings of $336M.
• 2023 Outlook ^: Frontier’s guidance for the full year 2023 is: Adjusted EBITDA of $2.11 - $2.16 billion; Fiber build of 1.3 million new locations; Cash capital expenditures of $2.80 billion; Cash taxes of approximately $20 million; Net cash interest payments of approximately $630 million; Pension and OPEB expense of approximately $50 million (net of capitalization); Cash pension and OPEB contributions of approximately $125 million.

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