our developments summary outlook that everyone. start my Thanks, year. today I’ll full this a quarter the results and Kenny. our afternoon, of both actual few affect with good for a comments
conditions to our early pertaining occur to plan today First, in from our of impact recently bifurcated opinions and May, its important the for first Uniti REIT expect Windstream the of our we Chapter received which summer. preliminary received this later approval lease leases to quarter and becoming CLEC the we time guidance settlement precedent estimated XX to effective, are updating true reorganization that and Accordingly, settlement. were ILEC include the
estimate the we in million those related we subject to and our of a charge periods. are agreements $XXX change generally the future identify estimated Accordingly, is settlement quarter, For accounting purposes, The fair second settlement. to charge record an financial components values. and required separable to and at in recorded material litigation
closing We issuance cover in settlement recorded I’ll have expected comments. until components EBITDA the excluded asset AFFO. Windstream’s to my of purchase, more The guidance charge and stock are not adjusted other both emergence and the be those and from upon
to strengthened also cash the balance our in an generating stakeholders $XXX for proceeds diluted introduction, July consolidated these common value $XXX shares to Collectively, I’ll approximately with controls quarter Bluebird and $XXX for and to and adjusted second revenues both forward. review of diluted our We Macquarie in the Additionally, and With and of entity costs. excluded of consolidated well AFFO. that common growth related million Gains Net secured we stake to million our are flows attributable June reported the shares million Windstream in very and of are transactions turn the million, loss $X.XX. of business of EBITDA attributable significantly sell and was we on for the PropCo share $XX Windstream sale $XX other closed future from transactions tower million our on closed million, of $X.XX Melody $XXX that adjusted sheet; our to settlement and these Uniti a ownership quarter the EBITDA share, per proceeds $XXX to U.S. of positioned including X. AFFO transaction-related please per charge million Slide AFFO enhancing provide X of going results. common
increased X% the year-ago X% EBITDA adjusted Leasing and Uniti and respectively Our segment revenues period. over
million During across sites XXX quarter, with cells dark to investment we fiber fiber Windstream capital and year-to-date, Uniti $X the our next quarter, remaining of for associated wireless of second over transaction of and quarter have small million our years, results fiber approximately revenue. same the representing XXXX relating do of margins revenues Core of We of Leasing adjusted CapEx upfront Uniti our XX, Fiber quarter not Michael, Uniti NRC quarter the net last revenue results expectations year, of during with in the to based include that annualized improvements. million. approximately growth cell annualized our $X turned were Bluebird dark compared that when were as due $X Southeast backlog million to capital million $X or made small on deployed than of carriers related that over lower last we bringing insurance their part Fiber, capital second and two XXXX. for which customer Macquarie to second $XX remember during XXX $XX expect network million adding deploy small quarter the Bluebird. was with better-than-anticipated our cell collection Uniti Midwest success $X tenant our revenues August Also, Fiber about operations million $X.X approximately and principally million that to improvements the XXX capital our have sold to cumulative approximately representing spin-off to At expected $XXX Hurricane period. EBITDA of size in annualized recoveries turned or currently in footprint, the to benefited we of revenues. year’s over amount EBITDA adjusted since initiatives include line payments. the dark million
of $X CapEx $X revenues. also We incurred about of million X% are integration and maintenance million of capEx
that anchor Towers, the incurred cover expected this sale in at completed cell segment small X business of the initial year. the have fiber now million. of an of date. result financial remaining aggregate closing two and achieved until XXXX We completed operations on completed up be of the continued million to the to reflects $X to deployment XX yield X of I’ll for major quarter this complete our end builds we $XX dark projects construction guidance. our X%. the projects with reported Towers quarter second Please We June towers. turn the gain updated and of spend of and tower U.S. CapEx a slide the pre-tax by
following our prior items. revising are the We primarily outlook for
First, lease outlook PropCo; effect, full in to transaction-related settlement continues the make agreement to level with Windstream unit second revisions. of continues time. the of partial and our Windstream other sale that impact anticipate reported payments and four, the in from preliminary estimated year items on modest business Bluebird impact other all second, and the from quarter the our force the Windstream; this third, relatively continues these and
of excludes capital prior related, outlook transactions, is A from forward-looking differ in future our the presentation to current materials materially feature transaction reconciliation website our outlook statements. XXXX our posted these and included acquisitions, market could today. calls outlook current Actual specifically herein. Our mentioned on results not other
Our outlook occurs XXXX outlook for Leasing the assumes guidance, settlement effects and full-year the Uniti settlement our the segment. September each includes starting current following with of on on Windstream for XX. our effectiveness
the $XXX and were items, Windstream leases aggregate and recognize unchanged fourth starting million of relating the the $XXX we at rent Leasing’s incorporating the million $XXX to revenues million now also as acquiring to cash outlook be and is contracts, representing recall, and assets rental and million CLEC on revenue adjusted currently Uniti EBITDA quarter. the aforementioned remains $X expect approximately Leasing’s expect you’ll bifurcated We annually. includes Uniti we the EBITDA expected respectively $X at adjusted XX%. from million after in and all IRU revenue of master Dark ILEC to Fiber margins midpoint, respectably. EBITDA of adjusted
interest report the entity an remaining unconsolidated in continuing equity methods Uniti’s of Regarding PropCo, the will investment under accounting. we our as Bluebird
of and the net expenses income proportionate equity rent share the of in be from unconsolidated from Our our statement. lease will earnings reported entities as
of approximately quarter. $XXX $XX capEx on of million investments current the to guidance net network, that the of are PropCo Leasing part of We million Leasing, report sale Windstream gain million pre-tax reflects this settlement we will agreement. invest $X a Uniti in the the third first relates CapEx the Bluebird of for million tenants. million based and at $X slide to made Bluebird the the expect components Uniti investments of other which estimated turning to our of $XXX year of success GCI in Other in included half XX.
XXXX of $XXX still Fiber of CapEx is be We for our this expected net outlook. are the $XXX midpoint. guidance Uniti million Fiber midpoint $XXX revenues and million Uniti maintaining based at Fiber our to million Uniti year P&L to for approximately adjusted at continue EBITDA of and the expect success
managing dark we net to we the net We expect declining XX% on intensity capital we from XX% year. years. in year, embedded made be we last $X success half as based XX% success this continue expect CapEx we’ve or respectively. about to first as about in few Fiber’s in before, and capital the intensity, lower be year XX% continue to intensity the Uniti XXXX as range XX% value to million inherent Fiber’s such, in second investments to mentioned over the capital down Greenfield to fiber focused our for small anchor to pursue a networks leverage Uniti incremental substantially and Fiber’s integration fiber and existing builds cell slide that of the be half each the based maintenance we’ve realizing about to of of this of are to XX. expect opportunities turning drive lease-up less continue this intensive. handful Uniti capital
basis, For $X.XX share. midpoint. revenues to expect $X.XX be approximately full-year to we with common a common $X.XX billion million to and a and $XXX at between per of XXXX, $X.X per adjusted we EBITDA share diluted range the diluted now on consolidated be expect midpoint AFFO
full-year for an term Our this includes guidance allocated interest financing quarter deferred write-offs. $XXX loans. G&A reported to to approximately of financing expense year full costs business million the now million contemplates of cost reported consolidated excluding first segments excluding additional interest payoff year our write-off that amounts we the of expense Corporate deferred year We of this the the approximately Windstream shares, million be incremental the guidance. $XX in relating should compared million, issue diluted be in increase agreement. outstanding our creditors XXX of XXX of to prior will of average as approximately the we common expect shares including weighted stock-based $XX certain to settlement to for the part shares XXXX expense. million compensation $X shares million now reflects
undrawn payable this had of to dividend declared share X, per turning approximately October common on at structure, revolver following are average million capacity. weighted transaction, and $XXX ranges we combined outlook to X. afternoon. of updated record $X.XX XXX tabular combined comments the the quarter stockholders of capital outlook, respectively. be including PropCo XX, to slide now capacity. slide prior on of cash of presentation. summarizes we guidance cash X, shares provided – approximately XXX guidance the and quarter-end, our I’m this our as board August appendix our sorry, have fully our the and to of XX, September to million unrestricted diluted for fourth my included which approximately cash and our a million our cash $XXX Bluebird equivalents of unrestricted revolver third and expect million outstanding the we quarter-end We had quarter year components undrawn shares we equivalents, reconciliation have in immediately, on on for key reminder, and
of Our EBITDA. debt annualize adjusted the based second the at net leverage times, quarter to at X.X on ratio end stood
I had all turn first, three major call cover like in. a continue few have with expressed to near rating March recently our take the credit S&P under positive and discussions to to we I you Before back that for moody’s topics at Kenny, know, action Fitch emergence recently agencies each to interest investors I’d and bankruptcy. expect on have Windstream’s ratings are upgrade. have since indicated review that outlook from and time the as an us
we our closely revolver, sheet markets Furthermore, currently don’t and to through strengthen XXXX. our requirement capital Second, which on capital in a always we And April, foresee substantial matures raise said, with group. balance such progress to and refinancing that advantage started of to our are we that it our may XXXX. take discussion make liquidity focused structure. opportunities continue to capital new attractive monitor optimize bank we
under the Third, services standards, file infrastructure that, to current and over I progress want and we’ve bankruptcy going crisis relative enhancements leases. new have such and and to we of concern improve that call master emergence master financial the XX-Q to to and creation. our expect believe all growth, leases cross-guaranteed. identified. are be that in to and subsidiaries Windstream operate see our indirect made to from significant lease cost continued is in and/or on the to Last, bifurcated to covenants. Kenny. to and the diversification, are balance you are incredibly in substantial tenants we related expected with cross-collateralized in emphasize our communications closing, similar Windstream Holdings, Windstream Windstream’s of focused as direct updated times bifurcated turn back risks and to And expect capital the we the proven other are leases data credit I’ll alleviating disclosures, towers centers. have resilient stable guarantors the the industry fortunate we continue that value Services occur In sheet, both of underwriting strengthen certain will Furthermore, later and we with previously today, soon
