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Uniti Group Inc. (UNIT-1.00%) has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing details the company's financial results, including total revenues of $292.2 million for the quarter, compared to $290.7 million in the same quarter the previous year.
Revenues from Uniti Leasing were $222.9 million, while Uniti Fiber contributed $69.3 million.
Interest expense for the quarter was $131 million, up from $120.7 million in the previous year, primarily due to increased cash interest on senior secured notes.
Depreciation and amortization expenses totaled $79.3 million, compared to $77.3 million in the prior year.
General and administrative expenses were $26.7 million, slightly higher than $25.5 million in the previous year.
Operating expenses decreased to $34.5 million from $37.4 million, driven by reduced installation and equipment expenses.
The company reported a net income of $12.2 million for the quarter, compared to a net loss of $118.9 million in the previous year, which included a goodwill impairment charge.
Cash provided by operating activities was $181.1 million, while cash used in investing and financing activities was $247.2 million and $57.2 million, respectively.
The filing also discusses the proposed merger with Windstream, expected to close in 2025, and the suspension of dividend payments until the merger's completion.
Uniti Group's liquidity position includes $53.4 million in cash and equivalents, with $495 million available under its revolving credit facility.
Capital expenditures for the quarter were $327.8 million, primarily for network infrastructure investments.
Uniti continues to focus on its leasing and fiber operations, with a significant portion of revenue derived from lease payments by Windstream.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Uniti Group Inc. quarterly 10-Q report dated November 8, 2024. To report an error, please email earnings@qz.com.