Uniti Group Inc. · NASDAQ:UNIT
Uniti — Q4 2024 Earnings Presentation
20 slides from Uniti's earnings presentation, Feb 21, 2025
Slide 1: 4Q24 Financial Earnings
4Q24 Financial Earnings February 20, 2025
Slide 2: Forward-looking statements
2 This presentation includes forward-looking statements that are subject to risks and uncertainties that could cause actual future events and results to differ materially from those expressed in the forward-looking statements. Forward-looking statements are typically identified by words or phrases s
Slide 3: Presenters
3 Paul Sunu Chief Executive Officer Drew Smith Chief Financial Officer & Treasurer Genesis White VP, Investor Relations & Assistant Treasurer
Slide 4: 2024 highlights and announced merger with Uniti
4 & Announced Merger with Uniti, bringing the network and operations back together and creating further opportunities to accelerate growth Completed multiple refinancing transactions that improved Windstream's debt maturity profile by several years and funded our expanded build plan in 2025 Achieved
Slide 5: Consumer Fiber Expansion: Extending our Fiber Coverage
5 Consumer Fiber Expansion (1 Gbps Consumer Premises Passed by Type) Extending our Fiber Coverage 167K new consumer premises added in 2024 37% coverage of consumer households was achieved by year end (1) Calculated using Fiber Subscriber revenue, less standard modem rental charge of $10.99 per month
Slide 6: Newest Fiber Cohorts Are Showing Strong Penetration Early
18% 25% 28% 24% 29% 26% 2021 2022 2023 Newest Fiber Cohorts Are Showing Strong Penetration Early Note: Cohort penetration reflects consumers on 1G capable facilities, within the respective cohort, at the 12-month (Year 1 Penetration), 24-month (Year 2 Penetration), and 36-month (Year 3 Penetration)
Slide 7: Strategic priorities: Forge Ahead With Fiber
7 Be the PREMIER broadband provider Be the INNOVATIVE wholesale leader OPERATIONS & SUPPORT Be the unwavering foundation that aligns, nurtures and enables us to be our best Focus o diversity and inclusion Forge Ahead With Fiber Fortify Our High-Quality Focus Foster Healthy Customer Connections Pave
Slide 8: 2025 fiber deployment and penetration goals
1.2M 1.5M 1.6M 2.0M 2022A 2023A 2024A 2025E +15% CAGR 8 287K 383K 446K ~550K 2022A 2023A 2024A 2025E +25% CAGR 28% Fiber Penetration Accelerate fiber deployment to reach 43% coverage and improve fiber penetration to 28% Consumer Fiber Premises Passed Consumer Fiber Subscribers IN 2025 WE WILL: 43% F
Slide 9: Financial Overview
Financial Overview 2023 2023 2023 2023 2023 2024 2024 2024 2024 2024 Q1 Q2 Q3 Q4 YE Q1 Q2 Q3 Q4 YE Revenue and Sales Kinetic Market $ 536 $ 537 $ 530 $ 540 $ 2,143 $ 547 $ 529 $ 512 $ 503 $ 2,091 Enterprise Market 371 338 346 314 1,369 316 287 279 261 1,143 Wholesale Market 113 106 115 103 437 114 1
Slide 10: Debt maturity and net liquidity
$0 $0 $… $0 $2,200 $- $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 2025 2026 2027 2028 2029 2030 2031 $475 Debt Maturity as of November 10, 2022 Revolver Draw Note: Available capacity under credit facility excludes outstanding letters of credit of $184 million of which $152.5 million was issued to
Slide 11: 2024 Results and 2025 Guidance
11 (all $ in millions) 2024 Results 2025 Guidance Adjusted EBITDAR(1) $1,457M Approximately $1.4B Cash Interest $207M Approximately $230M Capex $884M Approximately $1.1B Kinetic Consumer Subscriber Revenue (2.9%) Low-single digit growth y/y (1) Excluding impact of non-core operating asset sales duri
Slide 12: Appendix: Quarterly supplemental schedules (Pro Forma)
Quarterly supplemental schedules (Pro Forma) Appendix 12
Slide 13: Non-GAAP measures presentation notes
Supplemental Financial Information Windstream Holdings II, LLC ("Windstream", "we is", "our", or "the Company") has presented in this Investor Supplement unaudited adjusted results, which excludes depreciation and amortization, straight-line expense under the master leases with Uniti Group, Inc. ("U
Slide 14: Unaudited Adjusted Results of Operations (Non-GAAP)
Supplemental Financial Information UNAUDITED ADIUSTED RESULTS OF OPERATIONS (NON-GAAP) (QUARTERLY SUPPLEMENTAL INFORMATION foe quarterly periods inthe years 2024 2023 asilions) 2024 2023 ADJUSTED RESULTS OF OPERATIONS: Teal ge ainda Toad Tage _3dqe aga Revees ad sles: Serie revenaes $ 36014 S$ 8660
Slide 15: Debt leverage ratio and available liquidity
Supplemental Financial Information WINDSTREAM HOLDINGS II, LLC ‘UNAUDITED ADJUSTED RESULTS OF OPERATIONS (NON-GAAP) QUARTERLY SUPPLEMENTAL INFORMATION for the quarterly periods in the years 2024 and 2023, (Gu millions) Asof Debt Leverage Ratio: 12/31/2024 Long-term debt, including current maturities
Slide 16: Revenue and Adjusted EBITDAR Supplement
Supplemental Financial Information WINDSTREAM HOLDINGS II, LLC QUARTERLY SUPPLEMENTAL INFORMATION - REVENUE AND ADIUSTED EBITDAR SUPPLEMENT for the quarterly periods in the years 2024 and 2023 (ia millions) 2004 2023, Revennes and sales He ed Qu 2nd Qi Twn Total HO 3nd Qt 3nd Ot ‘Kinetic Market 3 S
Slide 17: Quarterly Supplemental Information - Business Segments
\WINDSTREAM HOLDINGS IL LLC ‘QUARTERLY SUPPLEMENTAL INFORMATION - BUSINESS SEGMENTS forthe quarterly periods inthe vears 2024 and 2023 Supplemental Financial Information amilions) 2004 Toul Tho Sed Ow iad Ge i Teal ing Kinetic Revenues and sales Fiber subscriber (A) Ss a0s0 01 wes $ 3207 s 60 DSL su
Slide 18: Quarterly Supplemental Information - Business Segments
Supplemental Financial Information \WINDSTREAM HOLDINGS Il LLC (QUARTERLY SUPPLEMENTAL INFORMATION - BUSINESS SEGMENTS for the quarterly periods inthe years 2024 and 2023 (amilioss) 2028 Te Tho 3 Ow Beier Toe Toul woe Ind Ow igu ‘Total segment revenues and expenses Revenues and sales: Service revene
Slide 19: Quarterly Supplemental Information - Operating Statistics
Supplemental Financial Information WINDSTREAM HOLDINGS IL LLC ‘QUARTERLY SUPPLEMENTAL INFORMATION - OPERATING STATISTICS. othe quater periods inthe years 2024 and 2023 (Cait in thousands, Dolla in millions excep per nit amounts) Tou En ial TOE Toul Ener 3a Oe Peers ‘Kinet Operating Metrics: Fiber co
Slide 20: Quarterly Supplemental Information - Non-GAAP Reconciliation
Supplemental Financial Information [QUARTERLY SUPPLEMENTAL INFORMATION -NON-GAAP RECONCILIATION: ‘She guy pode te ean stand 02 ery octal rest ong te ‘a i of eth cpl eps amtatecetin ss ‘er cco epee et (A) Otero fee pi pened cnt of elon sean coe) Soaeeo) Teal sae te a Ta Tar 3g ee 5 enn $s Gen s m9 5