Zayo Group (ZAYO) Misses Q1 EPS by 2c, Revenues Miss

Zayo Group (NYSE: ZAYO) reported Q1 EPS of $0.09, $0.02 worse than the analyst estimate of $0.11. Revenue for the quarter came in at $641.1 million versus the consensus estimate of $647.79 million.

• $641.1 million of consolidated revenue; including $536.1 million from the Communications Infrastructure segments and $105.0 million from the Allstream segment. Reported Revenue includes a $0.4 million negative impact from the adoption of the new accounting standard, Revenue from Contracts with Customers.
• Net income of $22.1 million, including $25.5 million from the Communications Infrastructure segments and a net loss of $3.4 million from the Allstream segment;
• $319.4 million of adjusted EBITDA, including $298.6 million from Communications Infrastructure and $20.8 million from the Allstream segment. Reported adjusted EBITDA includes a $1.6 million negative impact from the adoption of the new accounting standard, Revenue from Contracts with Customers.
• Bookings of $7.3 million, gross installs of $7.6 million, churn of 1.2% and net installs of $1.0 million, all on a monthly recurring revenue (MRR) and monthly amortized revenue (MAR) basis, excluding the Allstream segment.
• Adjusted unlevered free cash flow of $130.4 million.

For earnings history and earnings-related data on Zayo Group (ZAYO) click here.

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