前沿报告2024年第二季度业绩

2024年8月2日，德克萨斯州达拉斯--Frontier通信母公司（纳斯达克股票代码：FYBR）（以下简称“Frontier”）今天公布了2024年第二季度业绩。

“我们继续看到对高速可靠光纤互联网的强劲需求，推动了第二季度纪录纤维宽带净增长。因此，我们连续第二个季度实现了同比营收增长，第四个季度连续实现了调整后EBITDA增长，”Frontier总裁兼首席执行官尼克·杰弗里（Nick Jeffery）表示，“本季度客户和ARPU的增长导致了纤维宽带营收同比增长21％，扩大了调整后EBITDA毛利润。”

Jeffery继续说：“这些结果表明，我们快速增长的光纤业务势头正在积累并推动可持续的财务表现。与此同时，我们的NPS评分是我们最近的有线电视竞争对手的六倍，清楚地显示了为什么客户选择Frontier而不是有线电视。在进入下半年时，我们的团队继续专注于为客户提供价值，并在2024年及以后加速增长。”

2024年第二季度亮点

 

2024年第二季度业务和批发业务结果

资本结构；

截至2024年6月30日，Frontier的流动性总额为23亿美元，其中包括大约12亿美元的现金和短期投资余额，6亿美元可用于其循环信贷机构的借款能力以及5亿美元可用于其可变资金票据机构的借款能力，但需符合惯例的出借条件。截至2024年6月30日，Frontier的净杠杆比率约为4.6倍。⁴在2027年之前，Frontier没有长期债务到期。

Frontier今天更新了EBITDA、净现金利息费用和现金税款预测，同时重申了2024年的所有其他运营和财务预期。

电话会议信息

正如先前宣布的那样，Frontier将在2024年8月2日（东部时间）上午8:30举行电话会议，讨论2024年第二季度的业绩。

会议呼叫网络直播和演示材料可通过 Frontier的投资者关系网站 访问，同时也将作为存档保存在该位置。

---

⁵ The operational and financial guidance expectations for 2024 comprise forward-looking statements related to future events.  See “Forward-Looking Statements” below.  Projected GAAP financial measures and reconciliations of projected non-GAAP financial measures are not provided herein because such GAAP financial measures are not available on a forward-looking basis and such reconciliations could not be derived without unreasonable effort.

Frontier (纳斯达克: FYBR) 是美国最大的纯光纤提供商。我们以“Building Gigabit America®”的宗旨为驱动力，提供高速宽带连接，释放数百万消费者和企业的潜力。更多信息请访问 www.frontier.com.

非依照普遍公认会计准则的财务措施

Frontier 在评估其业绩时使用某些非GAAP财务指标，包括 EBITDA、EBITDA利润率、调整后的EBITDA、调整后的EBITDA利润率、营业自由现金流、调整后的营业费用和净负债比率，每个指标的说明如下。管理层在内部使用这些非GAAP财务指标来(i) 协助分析Frontier的基本财务状况, (ii) 分析和评价战略和运营决策, (iii) 设定薪酬决策的标准, (iv) 帮助理解Frontier 产生现金流的能力, 并作为结果, 规划未来的资本和运营决策。管理层认为，提供这些非GAAP财务指标的呈现方式有助于投资者了解Frontier的财务状况和经营成果，因为这些指标与相关的GAAP财务指标结合使用时，(i) 提供了Frontier核心业务和现金流生成能力更全面的视角, (ii) 为投资者提供了财务分析框架，以此为基础，管理层进行财务、运营、薪酬和规划决策， (iii) 提供了投资者和评级机构所建议的用于评估Frontier及其经营成果的度量。



这些指标与按照GAAP计算和呈现的最相似的财务指标的协调在附表中列出。这些非GAAP财务指标不是按照GAAP下的财务业绩或流动性指标，也不是GAAP指标的替代品，它们可能与其他公司的同名指标不可比。



EBITDA被定义为净利润（损失）减去所得税费用（效益）、利息支出、投资和其他收入（损失）、养老金结算成本、组织重组项目、以及折旧和摊销。EBITDA利润率通过将EBITDA除以总营收来计算。



调整后的EBITDA被定义为上面所述的EBITDA，调整以排除某些养老金/OPEB费用，重组费用和其他费用、按股计酬和某些其他非经常性项目。调整后的EBITDA利润率通过将调整后的EBITDA除以总营收来计算。



管理层使用EBITDA、EBITDA利润率、调整后的EBITDA和调整后的EBITDA利润率来帮助比较不同时期的业绩，并作为运营业绩的衡量指标。管理层认为这些非GAAP财务指标为投资者评估Frontier的运营业绩提供了有用的信息，因为它们排除了与过去时期的投资相关的折旧和摊销费用，并且不考虑资本结构或投资活动。通过排除资本支出、债务偿还和股息支付等因素，这些非GAAP财务指标具有某些缺点。管理层通过结合可比的GAAP财务指标使用这些非GAAP财务指标来弥补这些缺点。



管理层将营运自由现金流定义为从营业活动中提供的净现金减去与资本支出相关的供应商融资支付。管理层使用营运自由现金流来帮助比较不同时期的流动性，并获得对Frontier核心业务和现金流生成能力的更全面的视角。管理层认为这个非GAAP指标对于评估可用于偿还债务和支付股息的现金很有用。这个非GAAP财务指标具有某些缺点；它并不代表可用于自由支出的剩余现金流，因为诸如债务偿还等项目在确定该指标时并未减除。管理层通过结合可比的GAAP财务指标使用这个非GAAP财务指标来弥补这些缺点。



Adjusted operating expenses is defined as operating expenses adjusted to exclude depreciation and amortization, restructuring and other charges, certain pension/OPEb expenses, stock-based compensation, and certain other non-recurring items. Investors have indicated that this non-GAAP measure is useful in evaluating Frontier’s performance.

Net leverage ratio is calculated as net debt (total debt less cash and cash equivalents and short-term investments) divided by Adjusted EBITDA for the most recent four quarters. Investors have indicated that this non-GAAP measure is useful in evaluating Frontier’s debt levels.

The information in this press release should be read in conjunction with the financial statements and footnotes contained in Frontier’s documents filed with the U.S. Securities and Exchange Commission (the “SEC”).

前瞻性声明

This release contains "forward-looking statements" related to future events, including our 2024 outlook and guidance. Forward-looking statements address our expectations or beliefs concerning future events, including, without limitation, future operating and financial performance, our ability to implement our growth strategy our ability to comply with the covenants in the agreements governing our indebtedness, our capital expenditures, and other matters. These statements are made on the basis of management’s views and assumptions, as of the time the statements are made, regarding future events and performance and contain words such as “expect,” “anticipate,” “intend,” “plan,” “believe,” “seek,” “see,” “may,” “will,” “would,” or “target.” Forward-looking statements by their nature address matters that are, to different degrees, uncertain. A wide range of factors could materially affect future developments and performance, including but not limited to: our significant indebtedness, our ability to incur substantially more debt in the future, and covenants in the agreements governing our current indebtedness that may reduce our operating and financial flexibility; declines in Adjusted EBITDA and revenue relative to historical levels that we are unable to offset; economic uncertainty, volatility in financial markets, and rising interest rates could limit our ability to access capital or increase the cost of capital needed to fund business operations, including our fiber expansion plans; our ability to successfully implement strategic initiatives, including our fiber buildout and other initiatives to enhance revenue and realize productivity improvements; our ability to secure necessary construction resources, materials and permits for our fiber buildout initiative in a timely and cost-effective manner; inflationary pressures on costs, including tight labor markets, increased fuel and electricity costs and potential disruptions in our supply chain, which could adversely impact our financial condition or results of operations and hinder our fiber expansion plans; our ability to effectively manage our operations, operating expenses, capital expenditures, debt service requirements and cash paid for income taxes and liquidity; the impact of potential information technology or data security breaches or other cyber-attacks or other disruptions; the impact of laws and regulations relating to the handling of privacy and data protection; competition from cable, wireless carriers, satellite providers, wireline carriers, fiber “overbuilders” and over the top companies, and the risk that we will not respond on a timely or profitable basis; our ability to successfully adjust to changes in the communications industry, including the effects of technological changes and competition on our capital expenditures, products and service offerings; our ability to retain or attract new customers and to maintain relationships with existing customers, including wholesale customers; our reliance on a limited number of key supplies and vendors; declines in revenue from our voice services, switched and nonswitched access and video and data services that we cannot stabilize or offset with increases in revenue from other products and services; our ability to secure, continue to use or renew intellectual property and other licenses used in our business; our ability to hire or retain key personnel; our ability to dispose of certain assets or asset groups or to make acquisition of certain assets on terms that are attractive to us, or at all; the effects of changes in the availability of federal and state universal service funding or other subsidies to us and our competitors and our ability to obtain future subsidies; our ability to comply with the applicable CAF II and RDOF requirements and the risk of penalties or obligations to return certain CAF II and RDOF funds; our ability to defend against litigation or government investigations and potentially unfavorable results from current pending and future litigation or investigations; our ability to comply with applicable federal and state consumer protection requirements; the effects of governmental legislation and regulation on our business, including costs, disruptions, possible limitations on operating flexibility and changes to the competitive landscape resulting from such legislation or regulation; the impact of regulatory, investigative and legal proceedings and legal compliance risks; our ability to effectively manage service quality in the states in which we operate and meet mandated service quality metrics or regulatory requirements; the effects of changes in income tax rates, tax laws, regulations or rulings, or federal or state tax assessments, including the risk that such changes may benefit our competitors more than us, as well as potential future decreases in the value of our deferred tax assets; the effects of changes in accounting policies or practices; our ability to successfully renegotiate union contracts; the effects of increased medical expenses and pension and postemployment expenses; changes in pension plan assumptions, interest rates, discount rates, regulatory rules and/or the value of our pension plan assets; the impact of adverse changes in economic, political and market conditions in the areas that we serve, the U.S. and globally, including but not limited to, disruption in our supply chain, inflation in pricing for key materials or labor, or other adverse changes resulting from epidemics, pandemics and outbreaks of contagious diseases, natural disasters, economic or political instability, terrorist attacks and wars, including the ongoing war in Ukraine and the Israel-Hamas war, or other adverse widespread developments; potential adverse impacts of climate change and increasingly stringent environmental laws, rules and regulations, and customer expectations and other environmental liabilities; market overhang due to substantial common stock holdings by our former creditors; certain provisions of Delaware law and our certificate of incorporation that may prevent efforts by our stockholders to change the direction or management of our company; and certain other factors set forth in our other filings with the SEC. This list of factors that may affect future performance and the accuracy of forward-looking statements is illustrative and is not intended to be exhaustive.  You should consider these important factors, as well as the risks and other factors contained in Frontier’s filings with the SEC, including our most recent reports on Form 10-k and Form 10-Q.  These risks and uncertainties may cause actual future results to be materially different than those expressed in such forward-looking statements.  We do not intend, nor do we undertake any duty, to update any forward-looking statements.

			截至本季度末												截至2022年4月30日六个月
			此外，转换价值是以coinmarketcap.com上的收盘价为基础。				酒精饮料销售 $ 32,907 45.5％ $ 30,136 42.1％ $ 66,223				2023年6月30日				2024年6月30日				2023年6月30日
宽带收入 （单位：百万美元）
公司总计	光纤		$	432			$	414			$	356			$	846			$	690
	铜			151				155				173				306				346
	总费用		$	583			$	569			$	529			$	1,152			$	1,036
预计的光纤通行次数 （单位百万）
基础光纤通过数				3.2				3.2				3.2
总光纤通过数				7.2				6.8				5.8
估计宽带光纤%渗透率
基础光纤渗透率				45.3	%			44.9	%			43.4	%
总光纤渗透率				30.4	%			30.7	%			31.6	%
宽带客户，期末 （以千计）
消费	光纤			2,053				1,963				1,722
	铜			721				771				928
	总			2,774				2,734				2,650
商业 + 批发 (2)	光纤			134				132				122
	铜			102				108				126
	总			236				240				248
宽带净增用户数 （以千计）
消费	光纤			90				85				63
	铜			(50	)			(51	)			(59	)
	总费用			40				34				4
企业+批发 (2)	光纤			2				3				4
	铜			(6	)			(6	)			(4	)
	总费用			(4	)			(3	)			-
宽带流失
消费	光纤			1.40	%			1.24	%			1.41	%			1.32	%			1.30	%
	铜			2.02	%			1.93	%			1.84	%			1.98	%			1.78	%
	总费用			1.57	%			1.45	%			1.57	%			1.51	%			1.48	%
业务 + 批发 (2)	光纤			1.31	%			1.32	%			1.29	%			1.32	%			1.36	%
	铜			1.99	%			2.01	%			1.69	%			2.00	%			1.78	%
	总费用			1.61	%			1.64	%			1.50	%			1.63	%			1.58	%
宽带ARPU
消费	光纤		$	65.32			$	65.18			$	63.12			$	65.39			$	62.31
	铜			58.26				56.16				51.90				57.20				50.39
	总		$	63.41			$	62.53			$	59.06			$	63.06			$	57.84
商业+批发 (2)	光纤		$	97.83			$	98.40			$	100.30			$	98.09			$	101.19
	铜			63.83				60.81				61.26				62.38				60.90
	总费用		$	85.57			$	81.07			$	80.20			$	81.98			$	80.01