Uniti Group (UNIT) Misses Q1 EPS by 2c, Revenues Miss; Offers FY19 Revenue Mid-Point Guidance Below Consensus

Uniti Group (NASDAQ: UNIT) reported Q1 EPS of $0.01, $0.02 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $261 million versus the consensus estimate of $270.41 million.

• Revenues of $261.0 Million for the First Quarter
• Net income of $0.01 Per Diluted Common Share for the First Quarter
• AFFO Per Diluted Common Share of $0.59 for the First Quarter
• Updates 2019 Financial Outlook

“Uniti continues to see strong demand for both dark fiber and small cell deployments, as well as new tower demand in the U.S., principally driven by the network densification efforts of wireless carriers in support of the broader rollout of evolving communication infrastructure technologies and architectures. Uniti Fiber continues to be on track to complete the build out of several major network expansion projects by the end of this year, and recently wrapped up a successful E-Rate season. We continue to see positive momentum in our leasing business and are focused on the lease-up of our existing fiber networks, as well as pursuing additional value accretive sale-leaseback and OpCo/PropCo transactions,” commented Kenny Gunderman, President and Chief Executive Officer.

Mr. Gunderman continued, “We continue to expect to see solid organic revenue growth across our full-suite of product and service offerings as Uniti Leasing, Uniti Fiber, and Uniti Towers will be significant beneficiaries of industry dynamics over the next several years. As a result, we are largely leaving our full year 2019 outlook unchanged.”

GUIDANCE:

Uniti Group sees FY2019 revenue of $1.071-1.08 billion, versus the consensus of $1.08 billion.

For earnings history and earnings-related data on Uniti Group (UNIT) click here.

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