Frontier Communi Stock Price, News & Analysis

Frontier Communications Holdings has priced a private offering of $750 million in first lien secured notes due 2031, with an interest rate of 8.625%. The offering is expected to close on March 8, 2023. Proceeds will be used for capital investments and operating costs related to fiber expansion and general corporate purposes. The notes will be offered only to qualified institutional buyers under Rule 144A of the Securities Act. Frontier focuses on enhancing digital infrastructure through reliable fiber internet across 25 states.

Frontier Communications Holdings announces a private offering of $750 million in first lien secured notes due 2031. The net proceeds will support capital investments for fiber buildout and operational costs. The notes will be sold to qualified institutional buyers under Rule 144A and Regulation S, without registration under the Securities Act. Frontier continues its push for fiber internet expansion across 25 states, emphasizing its commitment to a better customer experience. The release includes forward-looking statements about potential risks and uncertainties, including competition, supply chain disruptions, and market conditions.

Frontier Communications Parent reported strong operational results in its Q4 and full-year 2022 financials. Highlights include building fiber to 1.2 million locations and achieving a total of 5.2 million fiber passings. Full-year revenue was $5.79 billion, with a net income of $441 million, while Q4 revenue reached $1.44 billion, reflecting a 6.9% decline year-over-year due to copper and subsidy declines. The company increased fiber broadband customer growth by 17.5%, adding 250,000 net customers. Frontier aims for continued growth in 2023, projecting Adjusted EBITDA of $2.11 - $2.16 billion and plans to build fiber to 1.3 million new locations.

Frontier Communications (NASDAQ: FYBR) launched its Fiber Innovation Labs on National Innovation Day to enhance its fiber-optic network through new patents and technologies. The labs aim to improve customer experience and operational efficiencies, essential to Frontier's fiber-first strategy. A notable addition is the first outside plant facility in Lewisville, Texas, simulating real-world conditions for testing and learning. According to Veronica Bloodworth, Chief Network Officer, the initiative will transform customer service and the industry.

Frontier (NASDAQ: FYBR) and AT&T (NYSE: T) announced a new agreement to enhance wireless infrastructure. This collaboration enables AT&T to deploy its wireless services leveraging Frontier's extensive fiber network, particularly in areas lacking fiber connectivity. The partnership builds on their existing relationship and aims to improve the resiliency and speed of AT&T's wireless offerings, especially for 5G. As the first tenant to utilize Frontier's central offices, AT&T will connect its cell towers to Frontier's fiber-to-the-tower (FTTT) infrastructure. This deal is pivotal for both companies in meeting growing data demands.

Frontier (NASDAQ: FYBR) has been recognized as a leader in internet speed and latency in California, Florida, Texas, and West Virginia, according to Ookla® Speedtest® results for Q4 2022. The company achieved first place in customer-initiated tests, indicating its strong fiber service. Frontier's fiber-first strategy has led to record growth in new customers, responding to increasing demand for high-speed broadband. As the second largest fiber build in the U.S., Frontier continues to outperform cable competitors. Their commitment to providing reliable and fast internet is strengthening their market position.

Frontier (NASDAQ: FYBR) has launched the first network-wide 5 Gig fiber internet service in the U.S., offering customers unprecedented speeds. This initiative aligns with Frontier's mission, Building Gigabit America, aiming for enhanced digital inclusion. The new service features 125 times faster upload speeds and 5 times faster download speeds compared to traditional cable, with a starting price of $154.99 per month. Customers will enjoy symmetrical speeds and no data caps, enabling seamless use of multiple connected devices. Frontier's reliability stands at 99.9%. This marks Frontier's second major internet speed innovation within a year, following the successful launch of its 2 Gig service.

Frontier Communications Parent, Inc. (NASDAQ: FYBR) will report its fourth-quarter and full-year 2022 financial results on February 24, 2023, at 8:30 a.m. ET. The webcast will be available through its Investor Relations website.

Frontier is focused on expanding gigabit-speed services and building a robust fiber-optic network to connect consumers and businesses across 25 states.

Frontier (NASDAQ: FYBR) has appointed Newmark as its sole real-estate manager to optimize its extensive portfolio across 25 states. This partnership aims to enhance operational efficiencies through Newmark's advanced technology platform, Newlitic, enabling data-driven insights for cost savings. Notably, Frontier achieved $250 million in gross annualized cost savings in 2022 ahead of schedule. CFO Scott Beasley emphasized the importance of this collaboration in supporting Frontier’s vision of Building Gigabit America and sustainability.