Frontier Communications (FYBR) Misses Q2 EPS by 36c, provides outlook

Frontier Communications (NASDAQ: FYBR) reported Q2 EPS of ($0.49), $0.36 worse than the analyst estimate of ($0.13). Revenue for the quarter came in at $1.48 billion versus the consensus estimate of $1.46 billion.

2024 Outlook

Frontier today updated EBITDA, net cash interest expense, and cash taxes guidance, while reaffirming all other operational and financial expectations for 2024.

Changes to Guidance

Adjusted EBITDA of $2.22 - $2.25 billion, an increase to the low end of the range from prior guidance of $2.20 - $2.25 billion1
Net cash interest payments of approximately $760 million, an increase from prior guidance of $750 million, reflecting the fiber securitization offering and term loan refinancing completed in July 2024
Cash taxes of approximately $10 million, a decrease from prior guidance of approximately $20 million

Unchanged from Prior Guidance

Fiber passing additions of 1.3 million
Cash capital investment of $3.00 - $3.20 billion2
Pension and OPEB expense of approximately $40 million (net of capitalization)
Cash pension and OPEB contributions of approximately $125 million

For earnings history and earnings-related data on Frontier Communications (FYBR) click here.

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