FYBR - Frontier Communications Parent GAAP EPS of -$0.01 misses by $0.09 revenue of $1.45B beats by $10M

2023-08-04 07:01:50 ET

• Frontier Communications Parent press release ( NASDAQ: FYBR ): Q2 GAAP EPS of -$0.01 misses by $0.09 .
• Revenue of $1.45B (-0.7% Y/Y) beats by $10M .
• Revenue of $1.45 billion decreased 0.7% year-over-year as growth in fiber-based products was offset by declines in copper-based products
• Passed 316,000 new fiber locations
• Added 66,000 fiber broadband customers, resulting in fiber broadband customer growth of 19% year-over-year

• Frontier’s guidance for the full year 2023 is:

  • 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
  • Net cash interest payments of approximately $655 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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