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 Inc. recently announced a significant milestone by securing a twenty-year contract with a large international hyperscale customer. This agreement will enhance Uniti's fiber infrastructure, connecting key data centers in Pittsburgh, PA, and Ashburn, VA. The deal showcases Uniti's commitment to expanding its 123,000 fiber route mile network, including previously acquired dark fiber from Windstream. This contract not only adds a new customer but also reinforces Uniti's position in the competitive communications infrastructure market.
Uniti Group (Nasdaq: UNIT) will release its Q3 2021 financial results on November 4, 2021, before markets open. A conference call will follow at 8:30 AM ET to discuss these results. Interested parties can join via phone or access the live webcast through Uniti's website. The company, a real estate investment trust specializing in vital communications infrastructure, owns approximately 123,000 fiber route miles and 7.1 million fiber strand miles nationwide as of June 30, 2021.
Uniti Group (Nasdaq: UNIT) announced that its Senior Vice President and CFO, Paul Bullington, along with VP of Finance and Investor Relations, Bill DiTullio, will present at the Deutsche Bank 2021 Leveraged Finance Conference on October 5, 2021, at 4:15 PM ET.
The event will be accessible via a live webcast on Uniti’s website under the Investors tab, with a replay available post-event. Uniti is a real estate investment trust focused on communications infrastructure, owning around 123,000 fiber route miles and 7.1 million fiber strand miles as of June 30, 2021.
Uniti Group Inc. announced the pricing of a $700 million offering of 6.000% senior notes due 2030, set to close on October 13, 2021. The proceeds will be used to fully redeem the outstanding 7.125% senior notes due 2024, with the redemption scheduled for December 15, 2021, at 101.781% of the principal amount. The new notes will not be registered under the Securities Act and will only be offered to qualified institutional buyers. Uniti, a real estate investment trust, specializes in critical communications infrastructure, owning approximately 123,000 fiber route miles.
Uniti Group Inc. has announced the offering of $700 million of senior notes due 2030 by its subsidiaries.
The proceeds will be used to fully redeem existing 7.125% senior notes due 2024 on December 15, 2021, and to prepay settlement obligations with Windstream Holdings after its bankruptcy. The redemption is contingent on completing additional debt financing of at least $700 million. The new notes will not be registered under the Securities Act, thus limiting their sale to qualified buyers.
Uniti Group Inc. (Nasdaq: UNIT) announced that its CEO, Kenny Gunderman, will present at the Goldman Sachs 30th Annual Communacopia Conference on September 23, 2021, at 12:25 PM ET. A live webcast of the event will be accessible via Uniti's website, under the Investors tab, and will be available for replay for a limited time afterwards.
As of June 30, 2021, Uniti owns approximately 123,000 fiber route miles and 7.1 million fiber strand miles across the U.S., positioning itself as a leading provider of fiber and wireless solutions for the communications sector.
Uniti Group Inc. has appointed Paul Bullington as the permanent Chief Financial Officer and Treasurer, transitioning from his role as interim CFO. This change follows the departure of Mark Wallace, who left due to health reasons. Kenny Gunderman, the CEO, expressed appreciation for Wallace’s contributions and welcomed Bullington's experience in the communications infrastructure industry, particularly in mergers and acquisitions. Uniti is a real estate investment trust focused on acquiring and constructing critical communications infrastructure, owning approximately 123,000 fiber route miles as of June 30, 2021.
Uniti Group (Nasdaq: UNIT) announced that Senior Vice President and Interim CFO, Paul Bullington, along with Vice President of Finance and Investor Relations, Bill DiTullio, will participate in the Bank of America Securities 2021 Media, Communications & Entertainment Conference. This presentation is set for 2:20 PM ET on September 13, 2021. A live webcast will be available on the company's website under the Investors tab, with replays accessible for a limited time after the event.
As of June 30, 2021, Uniti operates approximately 123,000 fiber route miles and 7.1 million fiber strand miles in the U.S.
Uniti Group has launched a new product called Wave Lease, enabling the provision of 100G and 400G Wavelength Services and multiple-Terabit Spectrum Services in Florida, with plans for nationwide expansion. The deployment utilizes advanced Ciena RLS technology to connect major markets like Tampa and Miami, aiming for operational readiness by the end of 2021. This product is positioned to deliver flexible bandwidth solutions and is expected to drive significant growth for Uniti.
Uniti Group reported strong second-quarter results with revenues of $268.2 million and a net income of $0.20 per diluted common share, a significant increase from the prior year. The company achieved a 10% growth in Adjusted Funds From Operations (AFFO) to $0.41 per share. Notably, Uniti completed a strategic transaction with Everstream, generating $135 million in cash. The company maintains a solid liquidity position with $574 million in unrestricted cash. Updated 2021 forecasts estimate revenue growth of 2% and AFFO growth of 6% year-over-year.
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