Business
Uniti Group Inc. Provides 2022 Outlook and Reports Fourth Quarter and Full Year 2021 Results
Third Consecutive Quarter of Consolidated Bookings of ~$1 Million in Monthly Recurring Revenue Net Income of $0.15 and $0.51 Per Diluted Common Share for the
About this update from Uniti Group Inc.
[{"type":"text","content":"Third Consecutive Quarter of Consolidated Bookings of ~$1 Million in Monthly Recurring Revenue\nNet Income of $0.15 and $0.51 Per Diluted Common Share for the Fourth Quarter and Full YearAdjusted EBITDA and AFFO Grew 7% and 10% for the Full Year, Respectively, from the Prior Full Year AFFO Per Diluted Common Share of $0.44 and $1.68 for the Fourth Quarter and Full YearIntroduces 2022 Outlook LITTLE ROCK, Ark., Feb. 25, 2022 (GLOBE NEWSWIRE) -- Uniti Group Inc. (“Uniti” or the “Company”) (Nasdaq: UNIT) today announced its results for the fourth quarter and full year 2021. “Our national network of 128,000 route miles of fiber is one of the largest and most robust in the country. We added nearly 6,000 route miles of valuable fiber in 2021 and capped off a terrific year of performance by adding $3.5 million of new consolidated bookings, a 40% increase over 2020,” commented Kenny Gunderman, President and Chief Executive Officer. Mr. Gunderman continued, “Trends in the communications infrastructure space have never been better, and Uniti remains uniquely positioned to benefit from the continued proliferation of broadband growth, fiber-to-the-home, small cells and national transport.” QUARTERLY RESULTS Consolidated revenues for the fourth quarter of 2021 were $293.0 million. Net income and Adjusted EBITDA were $35.9 million and $231.1 million, respectively, for the same period. Net income attributable to common shares was $35.6 million for the period. Adjusted Funds From Operations (“AFFO”) attributable to common shareholders was $114.0 million, or $0.44 per diluted common share, an increase of 7% when compared to the fourth quarter of 2020. Uniti Fiber contributed $82.0 million of revenues and $31.7 million of Adjusted EBITDA for the fourth quarter of 2021, achieving Adjusted EBITDA margins of approximately 39%. Uniti Fiber’s net success-based capital expenditures during the quarter were $33.8 million. Uniti Leasing contributed revenues of $211.0 million and Adjusted EBITDA of $206.1 million for the fourth quarter, representing growth of 9% and 8%, respectively, when compared to the fourth quarter of 2020. Revenue and Adjusted EBITDA in the fourth quarter both include a one-time non-cash adjustment to straight-line revenue of $8 million. During the quarter, Uniti Leasing deployed capital expenditures of $70.9 million primarily related...