Frontier Communications Issues Updated Guidance for 2018

Following its disappointing third-quarter earnings results, Frontier Communications (FTR) lowered its guidance for adjusted EBITDA and adjusted FCF (free cash flow) in 2018. Frontier now expects its adjusted FCF to reach $625 million in 2018, down from the $800 million it expected earlier. The company now expects its adjusted EBITDA to reach $3.55 billion in 2018, down from the $3.6 billion it projected earlier. The company expects its capex to be in the range of $1.15 billion–$1.2 billion.