[ad_1]
shulz
Uniti Group (NASDAQ:UNIT) stock dropped 4.2% in Friday morning trading after its Q4 revenue fell short of Wall Street expectations, while its adjusted FFO per share came in stronger than expected. The telecom infrastructure REIT also issued strong guidance for 2023 revenue and adjusted EBITDA.
The company expects 2023 revenue of $1.15B-$1.17B vs. $1.13B consensus and adjusted EBITDA of $915M-$935M vs. Visible Alpha consensus of $916M and $906M reported for 2022.
Uniti (UNIT) also expects 2023 adjusted FFO of $367M-$387M vs. $455M reported for 2022.
For the full year 2022, the company had $3.6M of new consolidated bookings and $3.5M of gross install monthly recurring revenue added in 2022, “resulting in the highest level of annual bookings and installs in the company’s history,” President and CEO Kenny Gunderman said.
Q4 adjusted FFO per share of $0.44, topping the $0.38 average analyst estimate, rose from $0.43 in Q3 and was flat with $0.44 in Q4 2021.
Consolidated revenue of $283.7M, trailing the $285.6M consensus, rose slightly from $283.1M in the prior quarter and from $293.0M in the year-ago period.
Fiber contributed $75.2M of revenue vs. $74.5M in Q3 and $82.0M in the year-ago quarter.
Leasing contributed $208.6M of revenue, flat with Q3, and down from $211.0M in Q4 2021.
Q4 adjusted EBITDA of $228.9M vs. $225.1M in Q3 and $231.1M in Q4 2021.
Earlier, Uniti Group reports mixed Q4 earnings, initiates FY23 outlook
[ad_2]