Frontier Communications Parent Inc. reported recurring developments in operating results, material agreements, capital structure and governance as a public operating company. Coverage also includes the completed merger through which Frontier survived as a wholly owned subsidiary of Verizon Communications Inc., along with related corporate-status updates involving its common stock, exchange listing and Exchange Act reporting obligations.
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.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.