Free Post Earnings Research Report: Uniti’s Quarterly FFO per Share Increased 17.78%

LONDON, UK / ACCESSWIRE / June 18, 2018 / If you want access to our free earnings report on Uniti Group Inc. (NASDAQ: UNIT) ("Uniti"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=UNIT. The Company reported its financial results on May 10, 2018, for the first quarter of 2018, ended March 31, 2018. During the quarter under review, the Company's funds from operations (FFO) per share were in-line with analysts' consensus estimates but its revenues missed the forecasts. Register today and get access to over 1,000 Free Research Reports by joining our site below:

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Earnings Highlights and Summary

For Q1 FY18, Uniti's total consolidated revenues reached $246.92 million, reflecting an increase of 16.76% from $211.47 million in Q1 FY17. The Company's revenue numbers missed analysts' consensus estimates by $0.26 million.

During Q1 FY18, Uniti's total costs and operating expenses were $246.78 million, up 6.44% from $231.85 million in Q1 FY17. For the quarter under review, the Company's general and administrative (G&A) expenses jumped 61.11% to $22.52 million, while its operating expenses advanced 35.16% to $29.90 million. Uniti had an income before income taxes of $135 million in Q1 FY18 compared to a loss before income taxes of $20.38 million in Q1 FY17. The Company's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were $196.70 million in the reported quarter, reflecting an increase of 11.13% from $177 million in the year ago same quarter.

Uniti's net loss attributable to common shareholders was $0.87 million, or $0.01 loss per diluted share, in the quarter ended March 31, 2018, versus $21.79 million, or $0.14 per diluted share, in the comparable period of last year.

Uniti's FFO attributable to common shareholders were $92.50 million in Q1 FY18, up 33.62% from $69.23 million in Q1 FY17. The Company's diluted FFO per share was $0.53 in the quarter under review, 17.78% higher than $0.45 in the year ago corresponding quarter. The Company's reported FFO per share in Q1 FY18 matched with analysts' consensus estimates. Uniti's reported FFO included transaction related costs; a change in the fair value of contingent consideration; amortization of deferred financing costs and debt discount; stock-based compensations; non-real estate depreciation and amortization; straight-line revenues; maintenance capital expenditure; and an income from non-controlling interests. The Company's adjusted funds from operations (AFFO) attributable to common shareholders was $108.67 million in Q1 FY18 compared to $100.32 million in Q1 FY17, reflecting an increase of 8.33%. Uniti's diluted AFFO per share was 0.62 in the reported quarter, down 4.62% from $0.65 in the prior year's same quarter.

Segment Details

During Q1 FY18, Uniti's Leasing segment had total revenues of $172.77 million, up 1.45% on a y-o-y basis. The segment had an adjusted EBITDA of $172.37 million in the reported quarter, an increase of 1.36% from $170.06 million in the previous year's comparable quarter.

During Q1 FY18, Uniti's Fiber Infrastructure segment had total revenues of $66.97 million, 92.37% higher than in the prior year's corresponding quarter. The segment's adjusted EBITDA increased 152.40% to $29.20 million in Q1 FY18 from $11.57 million in Q1 FY17.

Uniti's Towers segment's revenues were $3.37 million in Q1 FY18 compared to $1.43 million in Q1 FY17, reflecting an increase of 135.99%. The segment had an adjusted EBITDA of negative $0.46 million in the quarter under review compared to $0.74 million in the year ago same quarter.

For Q1 FY18, Uniti's Consumer CLEC segment had revenues of $3.80 million, 22.79% lower than in the prior year's comparable quarter. The segment's adjusted EBITDA were $0.91 million in Q1 FY18, down 21.70% from $1.17 million in Q1 FY17.

Cash Matters

Uniti had cash and cash equivalents of $56.90 million as on March 31, 2018, compared to $59.77 million as on December 31, 2017, reflecting a decrease of 4.79%. The Company had a net debt of $4.64 billion at the end of Q1 FY18.

For the three months ended March 31, 2018, Uniti's cash flow from operating activities was $156.87 million, up 22.36% from $128.20 million in the corresponding period of last year.

Uniti distributed dividends of $105.92 million in Q1 FY18, 12.52% higher than $94.13 million in Q1 FY17.

Outlook

For the full fiscal year 2018, Uniti expects revenues to be in the range of $1.01 billion to $1.02 billion. The Company expects adjusted EBITDA of $802 million to $811 million, and a net income attributable to common shareholders of $12.80 million to $21.80 million for FY18. Uniti expects FFO attributable to common shareholders to be between $382.20 million to $391.20 million, and AFFO attributable to common shareholders to be between $448 million and $457 million for the full fiscal year 2018.

On May 09, 2018, Uniti's Board of Directors declared a quarterly cash dividend of $0.60 per share, payable on July 13, 2018, to stockholders of record as on June 30, 2018.

Stock Performance Snapshot

June 15, 2018 - At Friday's closing bell, Uniti Group's stock fell 2.48%, ending the trading session at $22.37.

Volume traded for the day: 2.20 million shares, which was above the 3-month average volume of 2.02 million shares.

Stock performance in the last month – up 11.52%; previous three-month period – up 28.79%; past six-month period – up 24.97%; and year-to-date – up 25.74%

After last Friday's close, Uniti Group's market cap was at $3.89 billion.

The stock has a dividend yield of 10.73%.

The stock is part of the Financial sector, categorized under the REIT - Industrial industry.

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