Welcome to our dedicated page for Uniti Group news (Ticker: UNIT), a resource for investors and traders seeking the latest updates and insights on Uniti Group stock.
Uniti Group Inc. (Nasdaq: UNIT) is a publicly traded real estate investment trust (REIT) headquartered in Little Rock, Arkansas. The company is primarily engaged in the acquisition and leasing of communication infrastructure assets. Uniti Group boasts an extensive portfolio including approximately 140,000 route miles of fiber in the United States, with significant coverage in the Southeast region.
Uniti's core business revolves around providing fiber leasing services to enterprises. The company has recently agreed to merge with Windstream, a move that will see Uniti expand its operations into the consumer telecom market. This strategic merger will transition Uniti out of its REIT status, enabling the combined firm to offer both enterprise and residential telecom services, thereby diversifying its revenue streams. Post-merger, the firm will own 217,000 route miles of fiber, covering 4.3 million households and 150,000 commercial buildings.
As a strategic financing partner to the telecommunications industry, Uniti continuously evaluates industry challenges and trends to identify growth opportunities. The company's strategy focuses on acquiring and leasing communication assets that qualify as real property, financing fiber for existing and new customers, and acting as a financing partner to facilitate mergers and acquisitions.
Uniti's recent achievements include updating its 2023 outlook to reflect transaction-related and other incurred costs. The company’s outlook for 2023 remains optimistic, with a consolidated revenue projection that excludes future acquisitions and capital market transactions. Looking ahead to 2024, Uniti has set a comprehensive financial outlook, underscoring its commitment to sustained growth and profitability.
For investor relations and media inquiries, key contacts include Paul Bullington, Senior Vice President, Chief Financial Officer & Treasurer, and Bill DiTullio, Vice President, Investor Relations & Treasury.
- 2023 Financial Outlook: Adjusted projections for transaction-related costs.
- Strategic Merger: Uniti to merge with Windstream, expanding into the consumer telecom market.
- Asset Portfolio: Ownership of 217,000 route miles of fiber post-merger.
- Revenue Streams: Diversified revenue from enterprise and residential telecom services.
Uniti Group (Nasdaq: UNIT) announced that its subsidiaries, Uniti Fiber ABS Issuer and Uniti Fiber TRS Issuer , have launched an offering of $589 million in secured fiber network revenue term notes. The Notes, due for repayment in April 2030, will be secured by fiber network assets and related customer contracts in Florida and the Gulf Coast region (Louisiana, Mississippi, and Alabama).
The proceeds will be used to repay and terminate the existing ABS bridge facility and for general corporate purposes, including potential success-based capital investments and debt repayment. The Notes will be offered exclusively to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S, without registration under the Securities Act of 1933.
Uniti Group (Nasdaq: UNIT) announced that its subsidiary Windstream Services has priced $1.4 billion of 8.250% Senior First Lien Notes due 2031. This is an additional issuance to notes previously issued on October 4, 2024. The offering is expected to close on December 23, 2024.
Windstream will use the proceeds, along with cash on hand, to redeem all $1.4 billion of its existing 7.750% senior first lien notes due 2028 at a redemption price of 101.938%. The transactions are intended to be leverage neutral. The company's CFO Paul Bullington stated they will continue evaluating ways to strengthen their balance sheet by extending debt maturity and lowering interest expenses.
Uniti Group (Nasdaq: UNIT) has announced its participation in the upcoming Raymond James 2024 TMT & Consumer Conference, scheduled for December 9-10, 2024, in New York, NY. The company will be represented by Chief Revenue Officer Ron Mudry and Vice President of Investor Relations & Treasury Bill DiTullio.
All investor materials used during the conference will be accessible to the public through Uniti's Investor Relations website at investor.uniti.com in the Events & Presentations section.
Uniti Group (Nasdaq: UNIT) has announced its participation in the BofA Securities 2024 Leveraged Finance Conference. Senior VP, CFO and Treasurer Paul Bullington, along with VP of Investor Relations & Treasury Bill DiTullio, will present on December 3, 2024, at 9:30 AM EST in Boca Raton, FL.
The presentation will be accessible through a live webcast on Uniti's Investor Relations website at investor.uniti.com, with a -time replay option available after the event.
Uniti Group (Nasdaq: UNIT) has announced its participation in Nareit's REITworld 2024 Annual Conference taking place on November 19, 2024, in Las Vegas, Nevada. The company will be represented by President and CEO Kenny Gunderman and VP of Investor Relations & Treasury Bill DiTullio.
Investors can access presentation materials through Uniti's Investor Relations website at investor.uniti.com in the Events & Presentations section.
Uniti Group reported Q3 2024 results with consolidated revenues of $292.2 million and net income of $12.2 million. The company achieved $0.33 AFFO per diluted share and Adjusted EBITDA of $235.3 million with margins of 81%. Uniti Fiber contributed $69.3 million in revenues while Uniti Leasing added $222.9 million. The company updated its 2024 outlook with revenue projections of $1,157-$1,177 million. The company maintains strong liquidity with $529.1 million in cash and undrawn credit, while reporting a leverage ratio of 6.05x. Progress continues on the planned Windstream merger, expected to close by H2 2025.
Uniti Group Inc. (Nasdaq: UNIT) has secured a new 20-year contract with a major hyperscale customer in Montgomery, Alabama. This agreement involves the construction of 90 route miles of new multi-conduit systems and high-strand count fiber cables. The infrastructure will connect key data centers and points-of-presence in a ring configuration within the Montgomery metropolitan area.
The project will enable long-haul routes to connect to the metro infrastructure from all directions, including the recently announced route between Mobile and Montgomery. Delivery of the fiber rings is expected to occur throughout late 2025 and early 2026. Uniti's President of Wholesale & Strategic Accounts, Greg Ortyl, highlighted the growing demand for AI-optimized infrastructure and Uniti's operational presence in areas with suitable land and power availability.
Uniti Group Inc. (Nasdaq: UNIT) has announced that its President and CEO, Kenny Gunderman, will deliver the keynote presentation at the 2024 INCOMPAS Show. The presentation is scheduled for October 21, 2024 at 8:45 AM MDT / 10:45 AM EDT in Denver, CO.
Any materials used during the keynote presentation will be made available on Uniti's Investor Relations website at investor.uniti.com under the Events & Presentations tab. This announcement highlights Uniti's participation in a significant industry event, potentially providing insights into the company's strategies and outlook.
Uniti Group Inc. (Nasdaq: UNIT) has announced its plans to release its third quarter 2024 financial results before the Nasdaq Stock Exchange opens on October 31, 2024. The company will host a conference call at 8:30 AM Eastern Time on the same day to discuss the earnings report. Interested parties can participate in the call via webcast on Uniti's Investor Relations website or by telephone through registration on the website. A replay of the call will be available on the Investor Relations website for those unable to attend the live event.
Uniti Group Inc. (Nasdaq: UNIT) announced the pricing of $800 million in new 8.250% Senior First Lien Notes due 2031 by Windstream subsidiaries. The indenture will allow for the collapse of Uniti's and Windstream's debt silos upon the closing of their planned merger. Concurrently, Windstream agreed to a $500 million incremental first lien term loan facility. Windstream will amend its credit agreement to permit the post-closing reorganization.
The offerings are expected to close on October 4, 2024. Windstream plans to use the proceeds to repay and refinance certain loans, and potentially invest in network expansion, including accelerating its Kinetic fiber-to-the-home buildout. The refinancing and amendments provide a clear path to collapsing the dual debt silos upon merger closing, strengthening Windstream's position in the residential fiber market.
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