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Uniti Group Inc. - UNIT STOCK NEWS

Welcome to our dedicated page for Uniti Group news (Ticker: UNIT), a resource for investors and traders seeking the latest updates and insights on Uniti Group stock.

Uniti Group Inc. (Nasdaq: UNIT) is a publicly traded real estate investment trust (REIT) headquartered in Little Rock, Arkansas. The company is primarily engaged in the acquisition and leasing of communication infrastructure assets. Uniti Group boasts an extensive portfolio including approximately 140,000 route miles of fiber in the United States, with significant coverage in the Southeast region.

Uniti's core business revolves around providing fiber leasing services to enterprises. The company has recently agreed to merge with Windstream, a move that will see Uniti expand its operations into the consumer telecom market. This strategic merger will transition Uniti out of its REIT status, enabling the combined firm to offer both enterprise and residential telecom services, thereby diversifying its revenue streams. Post-merger, the firm will own 217,000 route miles of fiber, covering 4.3 million households and 150,000 commercial buildings.

As a strategic financing partner to the telecommunications industry, Uniti continuously evaluates industry challenges and trends to identify growth opportunities. The company's strategy focuses on acquiring and leasing communication assets that qualify as real property, financing fiber for existing and new customers, and acting as a financing partner to facilitate mergers and acquisitions.

Uniti's recent achievements include updating its 2023 outlook to reflect transaction-related and other incurred costs. The company’s outlook for 2023 remains optimistic, with a consolidated revenue projection that excludes future acquisitions and capital market transactions. Looking ahead to 2024, Uniti has set a comprehensive financial outlook, underscoring its commitment to sustained growth and profitability.

For investor relations and media inquiries, key contacts include Paul Bullington, Senior Vice President, Chief Financial Officer & Treasurer, and Bill DiTullio, Vice President, Investor Relations & Treasury.

  • 2023 Financial Outlook: Adjusted projections for transaction-related costs.
  • Strategic Merger: Uniti to merge with Windstream, expanding into the consumer telecom market.
  • Asset Portfolio: Ownership of 217,000 route miles of fiber post-merger.
  • Revenue Streams: Diversified revenue from enterprise and residential telecom services.
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Uniti Group (Nasdaq: UNIT) is set to release its Q2 2024 financial results on August 1, 2024, before the Nasdaq market opens.

A conference call to discuss the earnings will take place the same day at 8:30 AM ET, accessible via live webcast on their Investor Relations website. Interested parties can register for telephone participation through the Investor Relations site or by following the provided link. A replay will also be available on the website.

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Uniti Group (Nasdaq: UNIT) announced that its President and CEO, Kenny Gunderman, and VP of Investor Relations & Treasury, Bill DiTullio, will present at the Nareit 2024 REITweek Investor Conference.

The event is scheduled for 9:30 AM EDT on June 5, 2024, in New York, NY. Investors can access a live webcast of the presentation on Uniti’s Investor Relations website, with a replay available for a time afterward.

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Uniti Group announced that its President and CEO, Kenny Gunderman, along with SVP, CFO, and Treasurer, Paul Bullington, will present at the TD Cowen 52nd Annual Global Technology, Media and Telecom Conference.

The presentation is scheduled for 9:40 AM EDT on May 29, 2024, in New York, NY. A live webcast of the event will be available on Uniti's Investor Relations website, and it will be accessible for replay for a time.

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Uniti Group (Nasdaq: UNIT) announced that its President and CEO, Kenny Gunderman, and VP, Investor Relations & Treasury, Bill DiTullio, will participate in the J.P. Morgan 52nd Annual Global Technology, Media and Communications Conference in Boston, MA, on May 22, 2024. Investor materials related to their participation will be available on Uniti's Investor Relations website under the Events & Presentations tab.

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Uniti Group has announced its participation at the Barclays 2024 Leveraged Finance Conference, scheduled for May 21, 2024, in Austin, TX. Representing Uniti will be Paul Bullington, the Senior Vice President, Chief Financial Officer, and Treasurer, along with Bill DiTullio, the Vice President of Investor Relations & Treasury. Any investor materials related to this event will be available on Uniti’s Investor Relations website under the Events & Presentations tab.

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Uniti Group Inc. announced that its President and CEO, along with the VP of Investor Relations, will participate in the Goldman Sachs 9th Annual Leveraged Finance and Credit Conference. The event is scheduled for May 14, 2024, in Rancho Palos Verdes, CA. Investor materials will be accessible on Uniti's Investor Relations website.

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Uniti Group Inc. announced the pricing of $300 million aggregate principal amount of 10.50% Senior Secured Notes due 2028. The notes will be issued at an issue price of 103.00% and will be guaranteed by the Company and its subsidiaries. The offering is expected to close on May 17, 2024, with proceeds to be used for general corporate purposes, including funding for the merger with Windstream.

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Uniti Group Inc. announced a private offering of $300 million aggregate principal amount of 10.50% Senior Secured Notes due 2028. The notes will be guaranteed by the Company and its subsidiaries, secured by first-priority liens on their assets. The proceeds will be used for general corporate purposes, potentially including funding the merger with Windstream.

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Uniti Group Inc. reported solid first quarter 2024 results, featuring a 4% growth in core recurring strategic fiber business, successful lease-up strategy, and decreasing capital intensity. The merger with Windstream promises enhanced network reach and financial profile, positioning the company for future growth. Quarterly revenues stood at $286.4 million, with net income of $41.3 million and Adjusted EBITDA of $228.6 million. AFFO per diluted common share was $0.32. The Company had approximately $470.1 million in unrestricted cash at quarter-end and declared a quarterly cash dividend of $0.15 per common share.

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Uniti Group Inc. announced a merger with Windstream Holdings II, to create a premier fiber provider in the U.S. The merger will result in Uniti shareholders holding 62% of the common equity, while Windstream shareholders will hold 38%. The combined company will have a strong presence in Tier II and III markets, serving over 1.1 million customers. The merger is expected to enhance free cash flow, generate synergies, align capital allocation objectives, de-lever the balance sheet, and offer strategic optionality. The transaction is set to close in the second half of 2025.

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FAQ

What does Uniti Group Inc. do?

Uniti Group Inc. is a real estate investment trust (REIT) that acquires and leases communication infrastructure assets, primarily focusing on fiber leasing to enterprises.

Where is Uniti Group Inc. headquartered?

Uniti Group Inc. is headquartered in Little Rock, Arkansas.

What recent merger has Uniti Group Inc. announced?

Uniti Group Inc. has announced a merger with Windstream, which will transition the company out of its REIT status and expand its operations into the consumer telecom market.

How many route miles of fiber does Uniti Group Inc. own?

Post-merger with Windstream, Uniti Group Inc. will own 217,000 route miles of fiber.

What is the core business of Uniti Group Inc.?

Uniti Group Inc.'s core business is fiber leasing to enterprises, though it will also be offering residential telecom services following the merger with Windstream.

What are Uniti Group Inc.'s future growth strategies?

Uniti Group Inc. plans to grow by acquiring and leasing communication assets, financing fiber for new and existing customers, and acting as a financing partner for mergers and acquisitions.

Who are the key contacts for investor relations at Uniti Group Inc.?

The key contacts for investor relations are Paul Bullington, Senior Vice President, Chief Financial Officer & Treasurer, and Bill DiTullio, Vice President, Investor Relations & Treasury.

What is Uniti Group Inc.'s 2023 financial outlook?

Uniti Group Inc. has updated its 2023 financial outlook to reflect transaction-related and other incurred costs, projecting steady consolidated revenue.

How does the merger with Windstream benefit Uniti Group Inc.?

The merger with Windstream allows Uniti Group Inc. to diversify its revenue streams by adding residential telecom services and expanding its fiber network.

What areas does Uniti Group Inc.'s fiber network cover?

Uniti Group Inc.'s fiber network covers approximately 140,000 route miles in the U.S., primarily in the Southeast region. Post-merger, it will extend to 217,000 route miles.

Uniti Group Inc.

Nasdaq:UNIT

UNIT Rankings

UNIT Stock Data

886.55M
237.33M
2.52%
90.4%
7.08%
Other Commercial and Industrial Machinery and Equipment Rental and Leasing
Real Estate and Rental and Leasing
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United States of America
LITTLE ROCK