Frontier Communi Stock Price, News & Analysis

Frontier Communications (NASDAQ: FYBR) has amended its revolving credit facility to increase the amount of new securitization debt the company can issue. The amendment requires a portion of the proceeds to refinance first lien debt, providing flexibility to fund its fiber build and refinance expensive debt. Frontier, the largest pure-play fiber internet provider, initially issued $2.1 billion in fiber securitization notes in August 2023. The new terms allow for additional securitizations alongside traditional financings, while protecting first lien holders. The cap on first lien debt, securitization, and other facilities has been raised from $2.5 billion to $5.5 billion. Protections for secured creditors include using 40% of securitization issuance to retire first lien debt for amounts between $2.1 billion and $4.0 billion, and 100% for amounts up to $5.5 billion. The facilities are to assets in Texas and Florida.

Frontier Communications (NASDAQ: FYBR) announced that its CFO, Scott Beasley, will present at the TD Cowen Annual Technology, Media & Telecom Conference. The presentation is scheduled for May 29, 2024, at 11:25 a.m. ET. A live audio webcast will be accessible on Frontier's Investor Relations website.

Frontier Communications (NASDAQ: FYBR) has announced that its Executive Chairman, John Stratton, will present at the J.P. Morgan Global Technology, Media and Communications Conference.

The event is scheduled for May 20, 2024, at 1:50 p.m. ET.

A live audio webcast of the presentation will be available on Frontier's Investor Relations website.

Frontier (NASDAQ: FYBR) published its 2023 sustainability report, showcasing progress in becoming a more sustainable fiber internet company. The report highlights achieving sustainability goals, connecting more people to the digital economy, advancing inclusion, promoting environmental responsibility, and issuing green bonds to drive energy efficiencies. Frontier also improved customer satisfaction, strengthened communities through donations, promoted workplace inclusivity, and shared baseline greenhouse gas emissions data for future improvements.

Frontier Communications Parent, Inc. (NASDAQ: FYBR) reported first-quarter 2024 results, showing year-over-year revenue growth for the first time since 2015 and accelerated Adjusted EBITDA growth. The company achieved a 24% increase in fiber broadband revenue, adding 322,000 fiber passings and 88,000 fiber broadband customers. Operating income was $90 million with net income of $1 million. Adjusted EBITDA reached $547 million, a 5.4% increase year-over-year. The company generated $335 million in net cash from operations and had total cash capital investment of $1.0 billion. Consumer revenue increased 3.4% year-over-year to $787 million, with fiber revenue up by 12.7% to $505 million. Business and Wholesale revenue was stable at $659 million, with fiber revenue up by 6.8% to $300 million. Frontier reaffirmed its operational and financial expectations for 2024, including Adjusted EBITDA of $2.20 - $2.25 billion and cash capital investment of $3.00 - $3.20 billion.

Frontier announces the launch of the 'Good to Go' campaign, promoting their high-speed and reliable fiber internet technology that is built to last a lifetime. The campaign aims to showcase how fiber technology can meet the increasing demands for data and serve customers well into the future. Frontier offers a 30-day money back guarantee to customers switching to their fiber internet service, emphasizing its speed, reliability, and availability.