- Uniti Group (NASDAQ:UNIT) increases its 2021 revenue guidance a little higher and reaffirms its adjusted EBITDA and adjusted FFO guidance for the year.
- Sees 2021 revenue of $1.083B-$1.094B vs. previous view of $1.08B-$1.09B and consensus estimate of $1.09B.
- Reaffirms 2021 adjusted EBITDA of $846M-$858M and adjusted FFO at $408M-$420M.
- Q1 adjusted FFO per share of 41 cents vs. average analyst estimate of 28 cents; compares with 42 cents in Q4 2020 and 45 cents in the year-ago quarter.
- Q1 revenue of $272.6M vs. the consensus estimate of $271.7M and down from $275.3M in Q4 and up from $266.1M in the year-ago quarter.
- Continued "robust" demand across all of its business segments "is being driven by further network densification efforts by our wireless customers in support of broader rollout of enhanced communication infrastructure technologies within our markets, including 5G services," Uniti President and CEO Kenny Gunderman said.
- Leasing revenue of $194.9M increased from $184.4M a year ago.
- Fiber infrastructure revenue of $77.7M vs. estimate of $78.6M; compares with $81.4M in Q4 and $77.4M in the year-ago quarter.
- Q1 adjusted EBITDA of $214.2M vs. 215.7M in Q4 and $201.7M in Q1 2020; fiber infrastructure adjusted EBITDA was $29.7M and leasing adjusted EBITDA was $191.5M.
- Earlier, Uniti Group FFO beats by $0.13, beats on revenue