Business
Uniti Group Inc. Provides 2021 Outlook and Reports Preliminary Fourth Quarter and Full Year 2020 Results
Successfully Refinanced Revolving Credit Facility Issued $1.11 Billion of Senior Unsecured Notes; Refinancing Existing Debt at Lower Cost Revenues of $275.3
About this update from Uniti Group Inc.
[{"type":"text","content":"Successfully Refinanced Revolving Credit Facility Issued $1.11 Billion of Senior Unsecured Notes; Refinancing Existing Debt at Lower Cost Revenues of $275.3 Million and $1.1 Billion for the Fourth Quarter and Full YearNet Loss of $0.20 and $3.47 Per Diluted Common Share for the Fourth Quarter and Full Year AFFO Per Diluted Common Share of $0.42 and $1.72 for the Fourth Quarter and Full YearIntroduces 2021 Outlook LITTLE ROCK, Ark., March 01, 2021 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti” or the “Company”) (Nasdaq: UNIT) today announced its preliminary results for the fourth quarter and full year 2020. “Our fiber and leasing businesses performed exceptionally well last year and are well positioned going into 2021. Strong bookings and install activity at Uniti Fiber reflect the robust demand we continue to see for our wireless offerings, driven by network densification efforts and the broader rollout of 5G services within our markets. We continue to see increased demand for our non-wireless service offerings and make significant progress in leasing-up our major anchor wireless builds. With a national network of 123,000 route miles of valuable fiber, we are in the unique position to drive additional lease up for years to come,” commented Kenny Gunderman, President and Chief Executive Officer. Mr. Gunderman continued, “We expect to see solid growth across all of our businesses this year, driven by high margin, recurring lease-up across our Uniti Leasing and Uniti Fiber networks. Through the recent refinancing of our revolving credit facility and senior unsecured notes refinancing, we have substantially improved Uniti’s financial profile, while providing greater flexibility in our ability to pursue other strategic initiatives.” PRELIMINARY QUARTERLY RESULTS Consolidated revenues for the fourth quarter of 2020 are expected to be $275.3 million. Net loss and Adjusted EBITDA are expected to be $47.7 million and $215.7 million, respectively, for the same period. Adjusted Funds From Operations (“AFFO”) attributable to common shareholders is expected to be $106.4 million, or $0.42 per diluted common share. Uniti Fiber is expected to contribute $81.4 million of revenues and $30.8 million of Adjusted EBITDA for the fourth quarter of 2020, achieving estimated Adjusted EBITDA margins of approximately 38%. Uniti Fiber’s net success-based ca...