前沿報告2024年第二季度業績

2024年8月2日，德克薩斯州達拉斯--Frontier通信母公司（納斯達克股票代碼：FYBR）（以下簡稱「Frontier」）今天公佈了2024年第二季度業績。

「我們繼續看到對高速可靠光纖互聯網的強勁需求，推動了第二季度紀錄纖維寬帶淨增長。因此，我們連續第二個季度實現了同比營收增長，第四個季度連續實現了調整後EBITDA增長，」Frontier總裁兼首席執行官尼克·傑弗裏（Nick Jeffery）表示，「本季度客戶和ARPU的增長導致了纖維寬帶營收同比增長21％，擴大了調整後EBITDA毛利潤。」

Jeffery繼續說：「這些結果表明，我們快速增長的光纖業務勢頭正在積累並推動可持續的財務表現。與此同時，我們的NPS評分是我們最近的有線電視競爭對手的六倍，清楚地顯示了爲什麼客戶選擇Frontier而不是有線電視。在進入下半年時，我們的團隊繼續專注於爲客戶提供價值，並在2024年及以後加速增長。」

2024年第二季度亮點

 

2024年第二季度業務和批發業務結果

資本結構；

截至2024年6月30日，Frontier的流動性總額爲23億美元，其中包括大約12億美元的現金和短期投資餘額，6億美元可用於其循環信貸機構的借款能力以及5億美元可用於其可變資金票據機構的借款能力，但需符合慣例的出借條件。截至2024年6月30日，Frontier的淨槓桿比率約爲4.6倍。⁴在2027年之前，Frontier沒有長期債務到期。

Frontier今天更新了EBITDA、淨現金利息費用和現金稅款預測，同時重申了2024年的所有其他運營和財務預期。

電話會議信息

正如先前宣佈的那樣，Frontier將在2024年8月2日（東部時間）上午8:30舉行電話會議，討論2024年第二季度的業績。

會議呼叫網絡直播和演示材料可通過 Frontier的投資者關係網站 訪問，同時也將作爲存檔保存在該位置。

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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 (納斯達克: FYBR) 是美國最大的純光纖提供商。我們以「Building Gigabit America®」的宗旨爲驅動力，提供高速寬帶連接，釋放數百萬消費者和企業的潛力。更多信息請訪問 www.frontier.com.

非依照普遍公認會計准則的財務措施

Frontier 在評估其業績時使用某些非GAAP財務指標，包括 EBITDA、EBITDA利潤率、調整後的EBITDA、調整後的EBITDA利潤率、營業自由現金流、調整後的營業費用和淨負債比率，每個指標的說明如下。管理層在內部使用這些非GAAP財務指標來(i) 協助分析Frontier的基本財務狀況, (ii) 分析和評價戰略和運營決策, (iii) 設定薪酬決策的標準, (iv) 幫助理解Frontier 產生現金流的能力, 並作爲結果, 規劃未來的資本和運營決策。管理層認爲，提供這些非GAAP財務指標的呈現方式有助於投資者了解Frontier的財務狀況和經營成果，因爲這些指標與相關的GAAP財務指標結合使用時，(i) 提供了Frontier核心業務和現金流生成能力更全面的視角, (ii) 爲投資者提供了財務分析框架，以此爲基礎，管理層進行財務、運營、薪酬和規劃決策， (iii) 提供了投資者和評級機構所建議的用於評估Frontier及其經營成果的度量。



這些指標與按照GAAP計算和呈現的最相似的財務指標的協調在附表中列出。這些非GAAP財務指標不是按照GAAP下的財務業績或流動性指標，也不是GAAP指標的替代品，它們可能與其他公司的同名指標不可比。



EBITDA被定義爲淨利潤（損失）減去所得稅費用（效益）、利息支出、投資和其他收入（損失）、養老金結算成本、組織重組項目、以及折舊和攤銷。EBITDA利潤率通過將EBITDA除以總營收來計算。



調整後的EBITDA被定義爲上面所述的EBITDA，調整以排除某些養老金/OPEB費用，重組費用和其他費用、按股計酬和某些其他非經常性項目。調整後的EBITDA利潤率通過將調整後的EBITDA除以總營收來計算。



管理層使用EBITDA、EBITDA利潤率、調整後的EBITDA和調整後的EBITDA利潤率來幫助比較不同時期的業績，並作爲運營業績的衡量指標。管理層認爲這些非GAAP財務指標爲投資者評估Frontier的運營業績提供了有用的信息，因爲它們排除了與過去時期的投資相關的折舊和攤銷費用，並且不考慮資本結構或投資活動。通過排除資本支出、債務償還和股息支付等因素，這些非GAAP財務指標具有某些缺點。管理層通過結合可比的GAAP財務指標使用這些非GAAP財務指標來彌補這些缺點。



管理層將營運自由現金流定義爲從營業活動中提供的淨現金減去與資本支出相關的供應商融資支付。管理層使用營運自由現金流來幫助比較不同時期的流動性，並獲得對Frontier核心業務和現金流生成能力的更全面的視角。管理層認爲這個非GAAP指標對於評估可用於償還債務和支付股息的現金很有用。這個非GAAP財務指標具有某些缺點；它並不代表可用於自由支出的剩餘現金流，因爲諸如債務償還等項目在確定該指標時並未減除。管理層通過結合可比的GAAP財務指標使用這個非GAAP財務指標來彌補這些缺點。



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」).

前瞻性聲明

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日六個月
			此外，轉換價值是以coinmarketcap.com上的收盤價爲基礎。				酒精飲料銷售 $ 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
寬帶收入 （單位：百萬美元）
公司總計	光纖		$	432			$	414			$	356			$	846			$	690
	銅			151				155				173				306				346
	總費用		$	583			$	569			$	529			$	1,152			$	1,036
預計的光纖通行次數 （單位百萬）
基礎光纖通過數				3.2				3.2				3.2
總光纖通過數				7.2				6.8				5.8
估計寬帶光纖%滲透率
基礎光纖滲透率				45.3	%			44.9	%			43.4	%
總光纖滲透率				30.4	%			30.7	%			31.6	%
寬帶客戶，期末 （以千計）
消費	光纖			2,053				1,963				1,722
	銅			721				771				928
	總			2,774				2,734				2,650
商業 + 批發 (2)	光纖			134				132				122
	銅			102				108				126
	總			236				240				248
寬帶淨增用戶數 （以千計）
消費	光纖			90				85				63
	銅			(50	)			(51	)			(59	)
	總費用			40				34				4
企業+批發 (2)	光纖			2				3				4
	銅			(6	)			(6	)			(4	)
	總費用			(4	)			(3	)			-
寬帶流失
消費	光纖			1.40	%			1.24	%			1.41	%			1.32	%			1.30	%
	銅			2.02	%			1.93	%			1.84	%			1.98	%			1.78	%
	總費用			1.57	%			1.45	%			1.57	%			1.51	%			1.48	%
業務 + 批發 (2)	光纖			1.31	%			1.32	%			1.29	%			1.32	%			1.36	%
	銅			1.99	%			2.01	%			1.69	%			2.00	%			1.78	%
	總費用			1.61	%			1.64	%			1.50	%			1.63	%			1.58	%
寬帶ARPU
消費	光纖		$	65.32			$	65.18			$	63.12			$	65.39			$	62.31
	銅			58.26				56.16				51.90				57.20				50.39
	總		$	63.41			$	62.53			$	59.06			$	63.06			$	57.84
商業+批發 (2)	光纖		$	97.83			$	98.40			$	100.30			$	98.09			$	101.19
	銅			63.83				60.81				61.26				62.38				60.90
	總費用		$	85.57			$	81.07			$	80.20			$	81.98			$	80.01