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.
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.
LITTLE ROCK, Ark., Feb. 22, 2023 – Uniti Group Inc. (Nasdaq: UNIT) has announced the participation of senior executives at the J.P. Morgan 2023 Global High Yield and Leveraged Finance Conference. CFO Paul Bullington and VP of Finance Bill DiTullio will present at 9:15 AM EST on March 7, 2023, in Miami, FL. The presentation will not be webcast, but materials will be available on Uniti's Investor Relations website. Uniti is a real estate investment trust specializing in mission-critical communications infrastructure, owning approximately 134,000 fiber route miles and 8.0 million fiber strand miles throughout the U.S.
LITTLE ROCK, Ark., Feb. 21, 2023 (GLOBE NEWSWIRE) -- Uniti (Nasdaq: UNIT) has announced that its President and CEO, Kenny Gunderman, along with Bill DiTullio, Vice President of Finance and Investor Relations, will present at the Raymond James 44th Annual Institutional Investors Conference. The event is scheduled for 11:00 AM EST on March 6, 2023, in Orlando, FL.
The presentation will be accessible via a live webcast on Uniti’s website, which will also feature a replay for a limited time post-event. Uniti is a real estate investment trust known for its extensive communications infrastructure, including approximately 134,000 fiber route miles and 8 million fiber strand miles across the U.S.
On February 2, 2023, Uniti Group announced the upsizing and pricing of a $2.6 billion offering of 10.50% senior secured notes due 2028, an increase of $850 million from previously announced amounts. The offering will close on February 14, 2023, with proceeds used to redeem outstanding 7.875% senior secured notes due 2025 and repay borrowings under its revolving credit facility. The New Notes will be secured by first-priority liens on most assets of the Issuers and subsidiary guarantors. The redemption of the 2025 Secured Notes is anticipated to occur on March 4, 2023, contingent upon completing necessary debt financings.
Uniti Group Inc. (Nasdaq: UNIT) has announced an offering of $1,750 million in senior secured notes due 2028. The funds will primarily be used to partially redeem $1,422 million of their existing 7.875% senior secured notes due 2025 on March 4, 2023, along with related expenses. The new notes will be secured by first-priority liens on the Issuers' assets. This offering aims to strengthen Uniti’s financial position and optimize their debt. The New Notes will be exclusively available to qualified institutional buyers and are not registered under the Securities Act.
Uniti Group Inc. (Nasdaq: UNIT) has signed a significant long-term contract with a major global internet provider, providing long-haul dark fiber connectivity across 3,100 route miles in 12 U.S. cities. The contract, which includes key routes such as Houston to Jacksonville and Indianapolis to Nashville, encompasses over 10,600 fiber strand miles, making it one of Uniti's largest ever. This partnership is set to enhance Uniti's infrastructure capabilities, enabling scalability and improved bandwidth services, including 100G and 400G offerings. The company anticipates delivering these routes throughout 2023 and 2024.
Uniti Group announced the tax treatment of its 2022 common share distributions, confirming a total distribution of $0.75 per share. This includes ordinary dividends of $0.15 per share for each quarterly distribution made in 2022, recorded on specified dates. These dividends are classified as non-qualified and will be reported accordingly on Form 1099-DIV. Of the total distribution, $0.005886 per share will be treated as Section 897 Ordinary Dividends. As of September 30, 2022, Uniti owns approximately 134,000 fiber route miles and 8.0 million fiber strand miles across the U.S.
Uniti Group Inc. (Nasdaq: UNIT) announced that it will release its fourth quarter and full year 2022 financial results before the Nasdaq market opens on February 24, 2023. A conference call to discuss these results is scheduled for the same day at 8:30 AM ET, and will be accessible via webcast on Uniti's Investor Relations website. A replay of the call will be available starting at 12:00 PM ET on the same day.
FAQ
What is the current stock price of Uniti Group (UNIT)?
What is the market cap of Uniti Group (UNIT)?
What does Uniti Group Inc. do?
Where is Uniti Group Inc. headquartered?
What recent merger has Uniti Group Inc. announced?
How many route miles of fiber does Uniti Group Inc. own?
What is the core business of Uniti Group Inc.?
What are Uniti Group Inc.'s future growth strategies?
Who are the key contacts for investor relations at Uniti Group Inc.?
What is Uniti Group Inc.'s 2023 financial outlook?
How does the merger with Windstream benefit Uniti Group Inc.?
What areas does Uniti Group Inc.'s fiber network cover?
