UNIT
Uniti Group Inc.7.37
-0.13-1.73%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Hyperscaler IRRs, Kinetic ops detailed
Q&A unpacked hyperscaler economics, blending existing infrastructure sales with greenfield for 22% anchor IRRs, sustainable via Uniti's national scale that deters rivals. DISH/EchoStar exposure pegged under 1%, zeroed in 2026 guidance. Kinetic ARPU sustainable at 2-3% through inflation, speed ladders, VAS; churn hit records fixing customer pain points like first-call resolution. Builds backed by proven crews, no labor snags. Lease-up drives long-term recurring revenue. Management exuded execution confidence. Watch Kinetic fiber penetration.
Key Stats
Market Cap
1.76BP/E (TTM)
1.04Basic EPS (TTM)
7.10Dividend Yield
0%Recent Filings
10-K
FY2025 results
Uniti Group delivered FY2025 revenues of $2.2B, up 91% y/y, powered by the August Windstream merger that added $1.4B in topline yet drove $212M transaction/integration costs. Pro forma revenues dipped 7% to $3.8B amid Kinetic consumer declines from DSL erosion and ACP subsidy loss, while Fiber Infrastructure grew 5% on wholesale pricing. Q4 momentum shone in Kinetic's fiber network hitting 1.9M homes passed (41% footprint) with 535K subscribers (29% penetration), but legacy TDM churn pressured Solutions. Year-end debt hit $9.5B with $540M revolver capacity; no dividends planned. Post-year refinancings extended maturities. Competition from cable, wireless and overbuilders threatens broadband momentum.
8-K
Q4 results, fiber growth, 2026 outlook
Uniti Group reported Q4 2025 revenue of $917.3M and Adjusted EBITDA of $365.6M, with full-year figures at $2,234.5M and $1,173.8M—boosted by a $1,683.9M Windstream merger gain. Fiber revenue surged 13% YoY; Kinetic fiber subscribers jumped 20%. Signed largest-ever hyperscaler contract. Balance sheet strengthened via $960.1M Kinetic ABS at 5.689% and $1B notes. Guides 2026 Adjusted EBITDA to $1,425–1,475M. Debt weighs heavy.
8-K
Uniti issues $1B notes
Uniti Group subsidiaries closed a $1,000,000,000 private offering of 8.625% senior notes due 2032 on February 4, 2026, issued at 100.25% of principal. Proceeds repaid the 2031 senior secured term loan and support general corporate purposes. Notes rank senior unsecured, effectively junior to secured debt. Regulated subsidiaries will guarantee post-regulatory approval.
8-K
Uniti launches $960M fiber securitization
Uniti Group's bankruptcy-remote subsidiary completed a $960.1M private placement of secured fiber network revenue term notes on January 30, 2026—$677.7M Class A-2 at 5.219%, $113.0M Class B at 5.561%, $169.4M Class C at 7.653%—with ARD in February 2031. Collateralized by fiber assets and customer contracts in TX, AR, KY, OH, GA; non-recourse to Uniti. Proceeds fund general corporate purposes, including capex and debt paydown. Notes trigger rapid amortization if debt service coverage falters.
8-K
Upsized $1B notes priced
Uniti's subsidiaries priced an upsized $1.0 billion 8.625% senior notes offering due 2032 at 100.25% of par, up $500 million from initial size, closing February 4, 2026. Proceeds repay 2031 term loans and fund general purposes. Regulated subsidiaries' guarantees hinge on approvals within 60 days. Debt rolls over, yet cash flow risks loom.
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