Frontier Delivers Company Record for Fiber Broadband Customer Growth in Q4 2021

Rhea-AI Summary

Frontier Communications Parent (NASDAQ: FYBR) reported a significant increase in fiber broadband customers, adding 45,000 in Q4 2021, the highest quarterly gain to date. CFO Scott Beasley announced this growth during the Citi AppsEconomy Conference. This marks a 50% increase over the previous record of 29,000 net additions in Q3 2021. The overall broadband customer base grew by 9,000, the first increase in over five years, driven by strong fiber performance despite losses in copper broadband customers. The company anticipates continued growth as its fiber expansion accelerates.

Positive

• 45,000 net additions of fiber broadband customers in Q4 2021, a record increase.
• Total broadband customer base increased by 9,000 for the first time in five years.
• More than 50% higher growth compared to the previous record of 29,000 in Q3 2021.

Negative

• None.

 CFO Scott Beasley updates investors at the Citi AppsEconomy Conference

NORWALK, Conn.--(BUSINESS WIRE)-- Frontier Communications Parent, Inc. (NASDAQ: FYBR) announced the net addition of 45,000 fiber broadband customers in the fourth quarter of 2021, the largest quarterly increase to date, according to Chief Financial Officer Scott Beasley, speaking at the Citi AppsEconomy Conference today.

Beasley’s prepared remarks in the webcast presentation included the following points about customer growth:

• The Company delivered 45,000 fiber broadband customer net additions in the fourth quarter of 2021, over 50 percent more than the company’s prior record of 29,000 net additions in the third quarter of 2021.
• Fiber broadband customer additions significantly outpaced copper broadband customer losses in the fourth quarter.
• The result was an increase in total broadband customers of 9,000 in the fourth quarter of 2021. This marked the first time in more than five years that the Company has posted total broadband customer growth in a quarter.
• The Company expects to continue growing the total broadband customer base as its fiber build accelerates.

Customer results for the fourth quarter of 2021 are preliminary and subject to change pending completion of year-end closing review procedures.

An audio webcast link for the replay of the presentation is available in the Webcasts & Events section of Frontier’s Investor Relations website investor.frontier.com.

About Frontier Communications

Frontier Communications offers a variety of services to residential and business customers over its fiber-optic and copper networks in 25 states, including high-speed Internet, video, advanced voice, and Frontier Secure^® digital protection solutions. Frontier Business^™ offers communications solutions to small, medium, and enterprise businesses.

Forward-Looking Statements

This release contains "forward-looking statements" that address our expectations or beliefs concerning future broadband customer growth and related 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 growth and changes in our broadband customer base and related performance, including but not limited to: our ability to successfully implement strategic initiatives, including our fiber buildout and other initiatives to enhance revenue and realize productivity improvements; our ability to secure necessary construction resources, materials and permits for our fiber buildout initiative; competition from cable, wireless and wireline carriers, satellite, fiber “overbuilders” and over the top companies, and the risk that we will not respond on a timely or profitable basis; our ability to retain or attract new customers and to maintain relationships with customers; the impact of adverse changes in economic, political and market conditions in the areas that we serve, the U.S. and globally, including, but not limited to, disruption in our supply chain, inflation in pricing for key materials or labor, or other adverse changes resulting from epidemics, pandemics and outbreaks of contagious diseases, including the COVID-19 pandemic, natural disasters, economic or political instability or other adverse public health developments; and potential adverse impacts of the COVID-19 pandemic on our business and operations, including potential disruptions to the work of our employees arising from health and safety measures such as social distancing and working remotely, our ability to effectively manage increased demand on our network, our ability to maintain relationships with our current or prospective customers and vendors as well as their abilities to perform under current or proposed arrangements with us, including impacts of potential stress on our supply chain. This list of factors that may affect future growth and changes in our broadband customer base and related performance and the accuracy of forward-looking statements is illustrative and is not intended to be exhaustive. You should consider these important factors, as well as the risks and other factors contained in Frontier’s filings with the U.S. Securities and Exchange Commission, including our Form 10-Q for the quarter ended June 30, 2021. These risks and uncertainties may cause actual future results to be materially different than those expressed in such forward-looking statements. We do not intend, nor do we undertake any duty, to update any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220105005753/en/

Investor

Spencer Kurn

SVP, Investor Relations

+1 401 225 0475

spencer.kurn@ftr.com

Source: Frontier Communications Parent, Inc.

FAQ

What were Frontier Communications' customer additions in Q4 2021?

Frontier Communications added 45,000 fiber broadband customers in Q4 2021.

How does the Q4 2021 customer growth compare to previous quarters for FYBR?

The 45,000 net additions in Q4 2021 represent over 50% growth compared to the previous record of 29,000 in Q3 2021.

What is the significance of the customer growth reported in Q4 2021 for FYBR?

It marks the first total broadband customer growth in over five years, indicating a positive trend in Frontier's business performance.

What is Frontier Communications' outlook on customer growth following Q4 2021?

The company expects to continue growing its total broadband customer base as its fiber buildout accelerates.

When was the presentation about customer growth made for FYBR?

The presentation was made at the Citi AppsEconomy Conference.