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 announced the release of its 2022 Environmental, Social and Governance (ESG) Report, showcasing its commitment to transparency and responsibility. The report highlights key achievements in ESG policies in 2022, underscoring the company's dedication to its stakeholders. CEO Kenny Gunderman emphasized that these core values have been fundamental since the company's inception. The full report is accessible via Uniti’s investor relations website. As of December 31, 2022, Uniti operates a significant infrastructure portfolio, owning approximately 135,000 fiber route miles and 8 million fiber strand miles across the U.S., reinforcing its position as a leading provider of fiber and wireless solutions.
Uniti Group Inc. (Nasdaq: UNIT) announced its strategic densification of fiber networks in key Southeast metro markets, aiming to enhance connectivity solutions for businesses and wholesale customers. The network now spans 135,000 route miles and 8 million strand miles of fiber across the U.S. Targeted areas for growth include Augusta and Columbus, Georgia, Birmingham, Huntsville, Montgomery, and Tuscaloosa, Alabama, as well as Shreveport and Monroe, Louisiana. Uniti's expansion is designed to provide significant advantages to enterprise and wholesale customers amidst rising bandwidth demands and aging infrastructure. The company plans further densification throughout its Southeast footprint in 2023.
Uniti Group (Nasdaq: UNIT) announced it will release its Q1 2023 financial results on May 4, 2023, before market opening. A conference call is scheduled for the same day at 8:30 AM ET to discuss the earnings, which will be available via webcast on Uniti’s Investor Relations website. Following the call, a replay will be accessible starting at 12:00 PM ET. Uniti, a real estate investment trust, focuses on communications infrastructure and owns approximately 135,000 fiber route miles and 8.0 million fiber strand miles across the U.S.
LITTLE ROCK, Ark., March 27, 2023 – Uniti Group Inc. (Nasdaq: UNIT) announced an amendment to its credit agreement that extends the maturity date of its senior secured revolving credit facility to September 24, 2027, pending regulatory approvals. The amendment transitions the $500 million facility from LIBOR to Term SOFR with a credit spread adjustment of ten basis points. Senior Vice President, Paul Bullington, stated that this extension allows over 97% of Uniti's outstanding debt to mature in 2027 or later. Bank of America acted as Left Lead Arranger for the transaction.
Uniti Group reported record consolidated new bookings of $3.6 million and gross install revenue of $3.5 million in 2022. For the fourth quarter, consolidated revenues reached $283.7 million, with a net income of $41.0 million, but included a $24.5 million goodwill impairment charge affecting the Uniti Fiber segment. Total revenue for 2022 stood at $1.1 billion, with a net loss of $8.1 million and $455.1 million in Adjusted Funds From Operations (AFFO). The company plans to redeem old debts and issued $2.6 billion in senior secured notes, while maintaining a robust liquidity position with $355.8 million in unrestricted cash. A quarterly dividend of $0.15 per share is also declared for stockholders.
Uniti Group Inc. (Nasdaq: UNIT) announced a quarterly cash dividend of $0.15 per share, payable on April 14, 2023, to stockholders of record on March 31, 2023. The company specializes in acquiring and constructing essential communications infrastructure, owning approximately 134,000 fiber route miles and 8.0 million fiber strand miles across the U.S. As an internally managed real estate investment trust, Uniti plays a significant role in the communications industry, emphasizing fiber and wireless solutions for businesses.
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