Frontier Adds Record Fiber Broadband Customers in Q4 2022
Frontier (NASDAQ: FYBR) announced a record addition of 75,000 fiber broadband customers in Q4 2022, marking a significant milestone in its fiber-first strategy. CFO Scott Beasley will discuss these results at Citi’s 2023 Communications, Media & Entertainment Conference today at 11:30 am ET. The company reported a 17% increase in total fiber broadband customers compared to the end of the previous year. This growth indicates Frontier's competitive position against cable providers and highlights the effectiveness of its strategy in meeting increasing demand for high-speed internet.
- Added 75,000 fiber broadband customers in Q4 2022, a record increase.
- Total fiber broadband customers grew by 17% year-over-year.
- Outpaced cable competitors, gaining market share across nearly all operating areas.
- None.
CFO
TL;DR – The Byte-Size Download:
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Happening: Frontier (NASDAQ: FYBR) reported that it added 75,000 fiber broadband customers in the fourth quarter of 2022, a new record for the company.
Scott Beasley , Frontier’s Chief Financial Officer, will provide an update to the investment community at Citi’s 2023Communications, Media & Entertainment Conference today at11:30 am ET .
- Why it Matters: Frontier’s fiber-first strategy is transforming its business and the lives of those in its fiber footprint. As the demand for high-speed broadband connectivity grows, Frontier is positioned to deliver the best possible internet connectivity to meet the needs of consumers and businesses. The fourth-quarter broadband customer growth is a clear indicator that the strategy is working.
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Get Stoked: “We continue to outpace our cable competitors, gaining share in nearly every geography we operate in,” said
Scott Beasley , Frontier’s Chief Financial Officer. “Our new position as the ‘un-cable’ provider is taking hold. We are bringing customers a superior product and it is paying off in record broadband customer growth.”
The Details:
Frontier added 75,000 fiber broadband customers in the fourth quarter of 2022, the largest quarterly increase to date.
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Strong customer growth in Q4 led Frontier to finish 2022 with
17% more fiber broadband customers than it had at the end of 2021. - For the fifth consecutive quarter, fiber broadband customer additions outpaced copper broadband customer losses, resulting in 8,000 total broadband customer net additions in the fourth quarter of 2022.
Beasley will discuss these results today at the conference.
Customer results for the fourth quarter of 2022 are preliminary and subject to change pending the completion of year-end closing review procedures.
Will there be a replay?
A replay of the presentation will be available in the Events & Presentations section of Frontier’s Investor Relations website.
About Frontier
Frontier is a leading communications provider offering gigabit speeds to empower and connect millions of consumers and businesses in 25 states. It is building critical digital infrastructure across the country with its fiber-optic network and cloud-based solutions, enabling connections today and future proofing for tomorrow. Rallied around a single purpose,
Forward-Looking Statements
This release contains "forward-looking statements" related to future events. Forward-looking statements address our expectations or beliefs concerning future events, including, without limitation, our outlook with respect to future operating and financial performance, expected results from our implementation of strategic and cost savings initiatives, and our ability to comply with the covenants in the agreements governing our indebtedness and other matters. These statements are made on the basis of management’s views and assumptions, as of the time the statements are made, regarding future events and performance and contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “may,” “will,” “would,” or “target.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. A wide range of factors could materially affect future developments and performance, including but not limited to: our significant indebtedness, our ability to incur substantially more debt in the future, and covenants in the agreements governing our indebtedness that may reduce our operating and financial flexibility; declines in Adjusted EBITDA relative to historical levels that we are unable to offset; our ability to successfully implement strategic initiatives, including our fiber buildout and other initiatives to enhance revenue and realize productivity and service improvements; our ability to secure necessary construction resources, materials and permits for our fiber buildout initiative in a timely and cost effective manner; potential disruptions in our supply chain and the effects of inflation resulting from the COVID-19 pandemic, the global microchip shortage, or otherwise, which could adversely impact our business and hinder our fiber expansion plans; our ability to effectively manage our operations, operating expenses, capital expenditures, debt service requirement and cash paid for income taxes and liquidity; competition from cable, wireless and wireline carriers, satellite, fiber “overbuilders” and OTT companies, and the risk that we will not respond on a timely or profitable basis; our ability to successfully adjust to changes in the communications industry, including the effects of technological changes and competition on our capital expenditures, products and service offerings; risks related to disruption in our networks, infrastructure and information technology that result in customer loss and/or incurrence of additional expenses; the impact of potential information technology or data security breaches or other cyber-attacks or other disruptions; our ability to retain or attract new customers and to maintain relationships with customers; our reliance on a limited number of key supplies and vendors; declines in revenue from our voice services, switched and non-switched access and video and data services that we cannot stabilize or offset with increases in revenue from other products and services; our ability to secure, continue to use or renew intellectual property and other licenses used in our business; our ability to hire or retain key personnel; our ability to dispose of certain assets or asset groups or to make acquisition of certain assets on terms that are attractive to us, or at all; the effects of changes in the availability of federal and state universal service funding or other subsidies to us and our competitors and our ability to obtain future subsidies, including participation in the proposed RDOF program; our ability to comply with the applicable
View source version on businesswire.com: https://www.businesswire.com/news/home/20230105005041/en/
Investor Contact
SVP, Investor Relations
+1 401-225-0475
spencer.kurn@ftr.com
Media Contact
VP, Corporate Communications
+1 504-952-4225
chrissy.murray@ftr.com
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FAQ
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