The following is a summary of the Frontier Communications Parent, Inc. (FYBR) Q1 2024 Earnings Call Transcript:
Financial Performance:
Frontier Communications reported Q1 revenue of $1.46 billion, up 2% from Q1 of the previous year.
The net income was $1 million.
The adjusted EBITDA of $547 million represents the third consecutive quarter of growth.
The company invested $1.0 billion in Q1 2024, down $125 million compared to the same period in the previous year.
Business Progress:
Frontier Communications achieved positive revenue growth for the first time since 2015 and EBITDA growth for the first time in over a decade.
The company expanded its fiber footprint, growing the customer base by 60% since 2020 to 2.1 million customers.
Frontier Communications reported the successful intake of new customers, with more than half opting for value-added services.
The company is delivering about 3,500 fiber passings a day, leveraging its scale and momentum as a competitive advantage in the fiber market.
The company expects no material financial impact from the recent cyber-incident.
Despite a wary outlook on the Fixed Wireless Access (FWA) market, they are confident in long-term growth in the fiber market.
More details: Frontier Communications IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.