Uniti Group (UNIT) Misses Q2 EPS by 5c, Revenues Miss

Uniti Group (NASDAQ: UNIT) reported Q2 EPS of ($0.03), $0.05 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $247.3 million versus the consensus estimate of $250.07 million.

• Revenues of $247.3 Million for the Second Quarter
• Net Loss of $0.03 Per Diluted Common Share for the Second Quarter
• AFFO Per Diluted Common Share of $0.62 for the Second Quarter
• Updates 2018 Financial Outlook

“We are excited to announce two transactions today that demonstrate the continued momentum we are experiencing across all of our verticals. The fiber acquisition and leaseback transaction with CableSouth Media represents our first purchase from a cable provider and another acquisition of an attractive fiber portfolio with lease-up potential. The lease with a national MSO on previously acquired fiber reinforces the value of Uniti Leasing’s growing portfolio,” commented Kenny Gunderman, President and Chief Executive Officer.

Mr. Gunderman continued "We are also very pleased that the Internal Revenue Service issued a favorable private letter ruling ("PLR") in connection with our request for guidance to clarify the treatment of income we receive from certain communication infrastructure assets. In the PLR, the IRS addressed and favorably ruled that the revenues generated from certain communication infrastructure assets that presently are part of Uniti's taxable REIT subsidiaries would be considered rents from real property.”

For earnings history and earnings-related data on Uniti Group (UNIT) click here.

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