UNIT - Earnings call transcript Q3 2024

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Operator

Good morning, and welcome to today's conference call to discuss Uniti's Third Quarter 2024 Earnings Results. My name is Gigi, and I'll be your operator for today. Today's call is being recorded, and a webcast will be available on the company's Investor Relations website, investor.uniti.com, beginning today and will remain available for 365 days. [Operator Instructions] It is now my pleasure to introduce Bill DiTullio, Uniti's Vice President of Investor Relations and Treasury. Please begin.

Bill DiTullio

Gigi. Thanks, and third joining quarter everyone, to conference you Uniti's discuss XXXX thank morning, today's for call Good results.

Uniti's Speaking be on Bullington, Kenny will CFO. Gunderman, our the CEO; and call today Paul

contained become to merger, lease-up of transaction the Please proxy including the benefits to Please transaction and includes has between Investors regarding trends, statement historical like operating strategies, of get we prospectus combined contains the statement cover speak a the Windstream, the S-X the prospectus growth harbor outlook, timing or remarks completion or read related proposed statements statements. urged Uniti company important not materials. forward-looking combined only and transaction started, XXXX and contain would company, company facts. Any effective. future results include, entity of that yet through parent business prospects, not that the that regarding it the expected note Before statements will statements to the of following proxy but about and a plans the financial today's that, SEC of our as statements of are the I and our not and are demand Form has are either date with company about quickly safe forward-looking transaction. combined filed other our These network, the that that registration statement may as statement. materials be that today's limited expectations date the also to, and Uniti particular statements discussion Windstream the and in note indicated in information

to Windstream in may be Uniti be solicitation of proxies the and officers of and their directors and favor in participating addition, transaction. the In deemed

directors Uniti officers recent statement. most proxy information the executive may find in company's about and You

from of copy this remarks, websites on not proxy either any prospectus by requesting of whether also the factors available a statement any cause information more request those Kenny. see titled and the Statements copy to today's filed Windstream's through to a S-X. With is You obligation accompanies section materially actual new future Relations forward-looking Risk does in information I now call. Uniti please these Presentation that revise website. otherwise. turn that, presentation for events or of or website, Factors how undertake More And the to SEC or information result to documents over factors, as the information, Forward-Looking Uniti's from of call a and to this could in differ company's in described and Numerous may in the would results Investor like section those statements. Form obtain the the the on update

Kenneth Gunderman

talk of excited you before that, morning, Thanks, to Bill. thank I'm performance joining. combination Hurricanes everyone, I Good and another first Uniti for to solid quarter and Milton. of the Windstream. Helene terrible our But doing acknowledge impact want pending at and about with

loyal in and communities. many Uniti virtually affected provided thank yet again also to First areas. I are to with people the who've thoughts and and the customers who want damage emphatically support loss Our employees our responders support suffered immediate the terrific

Uniti is our regularly natural takes by our disasters granted. While leadership for complemented a such competency service to core response customers, your and never

the a revenue a our details by guidance starting year our will the infrastructure fiber and on outlook for our continued Now, solid full provide Uniti by led demand strong of Slide slightly customers, quarter including strong on of delivered the result on, to turning but we're updated demand. X. later more performance hyperscalers. increasing quarter once various as again XXXX Paul mission-critical

and for XX%, Dark MRR to track full core fueled third to by growth X.X% Enterprise, and growth paired XX%, exceptional X% on our When quarter, Fiber Wholesale the X% in X% respectively. in XX% with deliver the recurring remain fiber strategic Our churn, year. revenue business industry-leading grew we of

Turning X. bookings. to Slide We had quarter of strong another new

a bookings that year this and in from which by carriers, end activity see in other pickup are amount encouraged this Uniti far, increased similar we'll connect While backhaul middle XXXX year. procuring we driving This neighborhoods. offset substantial versus carriers intercity wireless towards is relating the demand remained we're mile a so XXXX, The customers, demand including fiber-to-the-home into threefold their saw bookings have to to downturn and than muted and of of XXXX. expect more fiber-to-the-home level

consolidated represent going continues forward a mentioned to from funnel our previously, XX% amount We're will hyperscalers. as from our confident we that of bookings coming demand sustained of meaningful meaningful with sales a from is entire part demand of bookings be hyperscalers. As hyperscalers this year-to-date our

percentage products, with thus and far the hyperscaler Moving being use the I to There the are talk future seeing. digital cases. We other demand of infrastructure meaningful strategic. generative the infrastructure infrastructure deals spent believe digital this deals we're no now likely a $XXX providers, Hyperscalers grow. attractive The financial hyperscalers a centers types of should transactions to in highly we're digital bit that the Slide and is hyperscaler granularly spending of and and opportunity X. AI and are including is industry about annually wanted persist spend -- on to for billion pursuing for more going about debate over data for size be cloud-based fiber.

entirely future some no routes that either existing building to infrastructure very perspective. Further, this lease-up of or coveted, As plus map, parts you justify could anchor cost line the with little investment previously economics from we're our see selling we're with in potential. In during long-haul network, not future stated to highly cases, new strategic of are we're infrastructure the new in capital from building model, phase. previously required can our providing a these lease-up and but pursue transactions transactions we excited

some IRUs to from sales in to As of strategic dark you leases deals types fiber and the waves. can selling see, vary cases,

will of bookings, including impact a vary financials, As quarter-to-quarter. the result, our

the For hyperscalers year the our many quarter, and fourth We're even likely for AI will the and buildings broadband to MRR. strategic were built more network use delivered spike of will The that are ultra-high a providing be inference we're being data upgraded, edge in connected cells quarter. in to lift from cases see other valuable are revenue generative earlier even example, made a during wireless become coming. excited small the the of as more sales and that to in centers, towers, need or phase to

well future. With that, turn fiber, executing short, Importantly, over the fiber-to-the-home will to I for is also well Paul. our of and core positioned Uniti call the will we're even valuable. In strategy more on providing become mission-critical

Paul Bullington

healthy current outlook. Thanks, begin an we The by reviewing results Kenny. our consolidated the quarter anchored solid intensity, X% XXXX growth million, nearly of I'd recurring level year-over-year in saw like success-based third third XX%. of ending at declining in core around by again the MRR and by for of strategic to our $X bookings Uniti fiber quarter revenue once overview quarter capital followed net a were our performance, consolidated

ranges end I'll consolidated XXXX remains slightly in as we expect EBITDA guidance the are a to within year while for revenue, previous bit, As in just provided. unchanged the more adjusted outlook increasing we our cover detail

of comments turn to third quarter. consolidated an this I'll million, $XXX financial provided to start AFFO EBITDA with X, diluted common shareholders of per reported share with our adjusted information $X.XX. million, million also revenues We and on $XX AFFO SEC quarter have Windstream's Slide filed consolidated in of X-K We attributed third morning. Please $XXX of the and earlier common

EBITDA higher reported million continue on our mentioned I capital adjusted in lease-up quarter of for of the generally deals dark third weighted in during There be continue and revenues quarter, this higher the of a hyperscalers, XX% XXXX Leasing, revenue -- -- as $XXX consolidated million revenue our from quarter. At bookings $XXX we in $XX line XX% adjusted last segment As timing EBITDA we was and strategic given capital one-time and including efficiency, number of year the basis, and half the and encouraging that versus $XX Fiber, sales, in same quarter. On come are the hyperscaler EBITDA expect Uniti with intensity wrapped the quarter. reported continued EBITDA prior quarter will Uniti adjusted more net trends EBITDA the to including representing revenues driving GCI adjusted we funding commitments mix an second sales during our of of were fourth of million to million, down margin prior quarter during we Both be NRCs. At of to focus same fiber the heavily with July. adjusted a that period the period expectations. our XX%, third in up

Turning X. to Slide

have base industry. On to equates we've to billion segment and key that historical consolidated appreciating. Since to building core networks Uniti we results XXXX, invested positive we fiber $X.X These New for grow yield expect believe and Windstream, continues in Our predictable close. by continues attractive infrastructure EBITDA adjusted backhaul our fiber-to-the-home that in its updated highly point investment Slide Kinetic growth merger wanted of cost year-to-date consists and of estimate report cost investments fiber helped post And provide Both margins. deploying each to per the $XXX a XX% a Kinetic's enable pending on roughly which fiber-to-the-home view revenue Kinetic passing for I with program market of X, the and to recurring of approximate have network. capital that of for almost is under Uniti revenue as others capital Uniti. given I the the total highlight

all reminder, current and predominantly branded infrastructure combine are a operated. Kinetic. deep which segment, premier company include capabilities our both Leasing along infrastructure Wholesale As of and a regional and segments, Uniti fiber as complementary network and Windstream highly to continue that the create our owned fiber Fiber national Fiber is will will with will with fiber-to-the-home platform Uniti be a and to

core I'll updated continued cover XX, fiber is guidance. as solid EBITDA As growth. Please our you solid top business combined see, and to for demonstrating the the the can growth XXXX Slide And business just line importantly, turn quarter. now demonstrated

for revising other transaction-related level incurred business costs unit and of are the our to and revisions We guidance impact date.

statements. could the capital future and forward-looking transaction-related not other outlook impact and results materially the market herein. from Actual acquisitions, expected future with costs transactions mentioned specifically Our these Windstream, excludes from differ merger

for I our outlook quarter lease-up we realized mentioned XXXX the that $X higher-than-expected for earlier, to are million Uniti revenue by at account Leasing. during As one-time was consolidated increasing

our the $X million offset corporate full Leasing, SG&A CapEx expense. At corporate higher-than-expected is expected to remains we year representing million approximately While of be year full success-based EBITDA CapEx less in our increase our transitioning adjusted the XXXX, we which due expect Fiber mentioned, for of guidance, having the an of net GCI outlook $X is reflect investments. Net for the to deals. of in million Uniti at which guidance, just XX% additional Windstream success-based by XXXX intensity a outlook outlook to down by midpoint XX%, from million higher-return success at further year midpoint $XXX $XXX Uniti still I and midpoint demonstrating are to XX% million of our one-time in expense of continue increasing lease-up are the for unchanged, our $XXX in Leasing we relates capital this to to capital-intensive, Uniti of lease-up

AFFO share midpoint per diluted range per common $X.XX to and between We year expect of $X.XX $X.XX share. a diluted with full

quarter appendix to cash components undrawn the guidance our million included equivalents we our capacity. for had unrestricted and end, As of approximately cash combined key ranges and reminder, outlook a presentation. At $XXX revolver in earnings of are

at loan contributions adjusted XXXX net annualized excluding from third net ratio to the EBITDA, and ABS end facility. was debt on based leverage quarter Our quarter the X.XXx debt

Finally, capital of structure. on our a couple comments

successfully the During the accomplished X collaborative quarter, primary and structure. Windstream strengthen executed goals. plan These to post-merger capital a on moves simplify

and Uniti both is was or important one. investors now efficiently. that the debt close, structure the us collapse at accomplish Simplifying First, to all was shortly and the after dual silos capital a Windstream's debt debt structure company allowing of into for quickly for of for into something the combined portable

expanding our maturities XXXX pushing maturity fiber-to-the-home raises be the And XXXX. to plan. Second, used Kinetic the additional capital corporate general majority it stack for it can build addresses debt the that including out significant purposes, of by third,

with financing which call place this now expect as financing bridge a we current be next our year. With complements ABS over or As solution, on well. in source that the To it attractive existing relates make structure year later ABS it our back continue continue market, by to that, Kenny. good to permanent early turn we view will to end, to of we that capital progress replacing I'll ABS an the

Kenneth Gunderman

Thanks, Paul.

jurisdictions continue XX merger. and we've extending reach residential our XX pending received of X to on Tier fact, of into PUC make of network, from progress already strategy insurgent successful them. Slide And to wholesale the in XX We now for Uniti's new fiber-to-the-home. approvals line our fiber great the X time and markets close showcases targeting requiring enterprise our

and Our connected competitive the network. Slide to will centers connected the footprint true held over cell connected less driving last X each POPs buildings, in largely the other markets, owned X.X north in million small Including is on-ramps a that's for Kinetic giving in the and building industry. years true connections, bandwidth our win today potential overbuilder, highlights increasing and fiber compares for locations, to footprint, providers right total the within X homes constant onto first of to future. of into current and Only data the favorably wholesale many reach fiber-to-the-tower unique million years. amounts Uniti the Kinetic's has XX% relatively XX how have us

also is $XXX believe per Kinetic fiber passing. cost passings Next, industry-leading at be building of an what to we

highlighted and from start fully has quality that further. cost head internally a GCI/TCI network build earlier, Kinetic costs perspective, given engine the a owned Paul investments lowers As Kinetic a have historical and

Importantly, targets and with actively plan evaluating further. we're that our approximately XX% current plan coverage expanding currently fiber,

year. announced in outlook we expect Windstream more to We plan we its program XXXX In early guidance call on specific fact, build its yesterday when fiber plan next to our earnings that that provide on provide accelerate XXXX. beginning

enhanced by has year. Recent to penetration which combination, see on as will combined in Uniti's highlights average up Slide been can have business together a with digitally of POPs and XXX,XXX levels ramped the been XX% XX, between strategy. Slide XX waves XXX,XXX routes, national uniquely element dark miles, in and asset-rich buildings of business wholesale our many unique demonstrating X on Kinetic X X,XXX over averaged We'll in robust to this another first local you network. On years. more positioned year, Tier continue data be fiber XX% taker almost Kinetic growing cohorts the a few is have demonstrating Initial markets. early have the and past success centers. has customer-focused, connected a Windstream's really go-to-market initial penetration second of exciting nationwide over the consistently to XX% increasing bringing and basis, cohorts above the rates strong to XX% Moving being connected share to route

and to Turning to between progress making of numerous closing Slide on signing XX. initiatives transaction. We committed our key

First, to both outreach operationally, we to well Relations and the investors companies new a help understand unified Investor continue provide Uniti. to execute continue

that, it an with And idle Kinetic to our very when comes on and plan of expanded have on of never excited goals. extra Paul sheet And integration as we're with accelerated lastly, mentioned as actively fiber-to-the-home achieve plan part new build working to our to synergy the also we're capital. We're M&A. forma pro Next, earlier, simplification at closing. completed we're balance working an

absolutely on we excited are market Kinetic scaled our trend, the strategic Uniti the then, developments at fiber-to-the-home since value views. The the substantial epicenter is its by pending the merger When Let our how we about XX And the me of transaction announced growing have Slide talked strategic in validated we platform. convergence restating Windstream. New and for of with May, rationale. close highlighting

the we'd to in our the infrastructure also with business fiber explosion benefit take be excited being is fueled by in positioning. And uniquely cannot general, your more We be to positioned from demand demand happy including hyperscalers. that, questions. Our broadband about

Operator

Greg TD comes Cowen. question the first line Our from Instructions] Williams of from [Operator

Gregory Williams

recent there there's just of you and bookings. on the rings general NRCs, win Metro one high MRR with deals. these upfront recurring first seeing you're of more color and some much out is MRR could concern not Paul, provide cash on terms And Montgomery a in hoping low but noted, the you The that, as in yields

the just RFP and the are in mechanics and the competitive if that, and to talk the to yields releases the a opportunity, talk can you And speak can part maybe you the parcel and that AI process? acceptable. And press of of dynamics lucrative So, Gen is to the the deals more there competition flavor and There's Uniti's characterization the table? And RFP advantages? fiber are billions dollars. it's at you can if in out there funnels to

Kenneth Gunderman

network it's Yes, when Montgomery, at we doing really you with types with wanted we fiber tenant. parcel third We're working building respect with and using strategic remote in on is in often markets to we're provide We're the the initial or Mobile, can't more we're with us give really, this page. or in to the like we're color markets of on that to we're that And building remarks. tremendous not the what And in use them. connecting which of mentioned, Montgomery -- fiber core ones build. of lease-up new top one Uniti we're when very our -- second, pursuing to slide transactions prepared like you locations potential Huntsville hit fiber the the or look it's that's on at Huntsville, part a hyperscalers fourth for building we the Montgomery this

tracking X% at we've XX% on top of look the these we to a XX%. And a NRC, range, -- respect performance above anchor well that about for deals, you lower that, say within I NRC, to those model. nicely that a done in we an I deal, how sense deals, anchor these you question, higher lease-up. And us NRCs if above you for say, talked and the hyperscaler that builds in well do of dovetails, strategy cash order returns. what they building squarely strategy metrics need lease-up higher. And or all And do of model. I'd stress our initial you we're are less fit like get we're your And is flow about always generally, gets economics that as they in of believe more plus past lease-up work so over years. And the need we've on into every our how stress and less having take these the anchor on, to previously which they lease-up second Paul fit we stated that to fiber think, in urgency when anchor then quarter, talk the conversely, those deals, on of when would focus more number on with do seeing, or the there's And the have if said, stress hyperscaler lease-up the for puts but

when that we think range, that range. we're of so are yield XX% of I initial in about most X% say excess the would deals to And seeing

again, And so good we done are, view the anchor of perspective, from given lease-up deal, an our deals the very the the of core about that where deals, in including feel these potential we've network. the our economic on they're right builds after

scaled of So respect really we on we that have basis. And if sense the to There's RFP, get built. and urgency but Two, feel great their a robust fiber these important not closer has engaging these are a we're of than of time who for to procure It's dynamic, for we'll budget. example. are they're on build sophisticated plenty as manner mean, that excited engaging economics of want this do. With parties on part to looking than on competitive more different similar companies that hyperscalers, the about an to who network with the able and will. large wireless critically other forward, it's going the a to look, type RFP, continue deals, on they're reporting them. to bespoke of network, a regular in the we're you and infrastructure broad a to I just capacity. opportunity economics to for We're quite providers looking build

can a Uniti And them. parties network. so And they're robust have putting who a priority does scaled on deliver for

X have tending certainly on they're including where we to budget. unique X in proven now. and locations, are build on And Tier ability markets and to right a time focus We

will same process. terrific to a execution think feel place continue necessarily And And you And I a the that that's basis. these to go-forward an sort we RFP so on don't customers think would competitive will of pressure competitive on pass good persist. and I dynamic that be, we focus in for

Operator

of Our question next Louthan line Frank from James. from comes the Raymond

Frank Louthan

give then opportunity for getting Are building we with us -- all How And XX, some you these with much much for With fiber that? well I that? assume these color these Windstream on of revenue can anchor how these think some color expansions, deals, new this on combination? fiber more how greenfield you're or you're And of for can us market Uniti the yourself is give construction? markets yourself of some as inventory. as you should about potential markets Fiber a Slide there? some

Kenneth Gunderman

were in or -- of XX hyperscalers. to look, your we're years Frank, the fiber, X question, X first So X selling we to terms ago, generally strands

delivering count say, more. deals, some we're XXX average, Now, in strand cases, on I'd

that And and fiber general keeping they're about with question your much how ourselves, substantial so not would infrastructure say, on amount amount to more. there's building I delivering, par ourselves just for or if a what in we're been substantial for a it's we're procuring. And of the pickup fiber

selling future-proofing own selling. When mind we capacity past, in we the strand needs. putting you're of the in planning -- break And when like time selling ground you're and new capacity our seem -- put more. count, in now you XXX-count network, we're we're XXX network were amount any keeping to not strands, own and in XX you So cable need X But when and enough. we're

more need conduits. more You and capacity

our delivering. network, for the to lease-up building we're using we're demanding, potential I just absolutely we that with we're Greg's very ourselves feel customers that also to goes as so an And about which excited back mean, fiber this only opportunity not are fiber question. our deliver in but that future-proofing the we're the

XX%. Kinetic, we XX% footprint. expansion fiber market In have has Uniti. currently multiple get a XX%, terms their to to of the today, roughly there's of the built market plan And new opportunities New new to with Kinetic for Starting think, expansion, I

has So also, -- pickup to lot think to the have that's and have we number of go is an a and we're we in Kinetic hard the a And markets build that's opportunity that substantial we -- Uniti we to even fiber. in footprint. potentially of today, in where copper that there's opportunity addition higher, fiber And of working It's in Kinetic, footprint. the on markets the XXX that. But around metro outside Kinetic the country.

to in today, it's build. offering lit services we're Kinetic And probably So in addition that XX of markets. those

about of and an a that, we're revenue part So revenue the we backhaul the hyperscalers, think which increase routes and because not often markets got wholesale valuable do a we think top by on network that fiber a of part our say network. business, these in very a -- in our owned to especially markets. having also is metro X/XX That's fiber underappreciated X And we X very that of question centers opportunity. that's to potential Tier routes with is routes markets think unique metro have connecting it. Tier And target of I lot that -- unique again, have data lease-up with unique of unique because to connected and we're disciplined in metro going measured your approach. But that XXX-fold those we've in we're

So expansion I'm very Uniti our X market Wholesale the opportunities Frank, business. of Fiber across our all businesses: excited, about and Kinetic,

Operator

line the from from Bank of David comes Barden question next Our of America. Instructions] [Operator

David Barden

down the for up I thing of just like about state-by-state question, but hyperscalers causing a feels and could. one-time Kenny. kind flowing there I guess the question, from some both to not would regulatory the of give guide the are know there is of benefit to I Second, kind yellow you mean, regulatory a kind could I slide the you're drill is progress a than where others? on of through state And couple, going that up green That which of this I step on little Kenny, what's little color my is tent the bit the be what the on you act line? on in bit us selling that that you was last I sides polls conversation through Paul, to merger, guess, through through the us could, I not kind to process. of revenue agencies? basis. Could guess on the it is -- on longer first today just hyperscale revenue, want follow EBITDA me then a helpful. And to that of they're if on kind building. the the if

so whole So sale? need new. is my is a have is people They to to they that more since reverse be be thing this to necessarily -- need out that install. route. like working And they don't -- a guess route. how And I'm hunting is how they're just it's have there it for the trying that understand that --

Kenneth Gunderman

the Paul back on then third. turn it to the and I'll and first David, take come

that PUCs, XXXX. state we when X in the we about sort we which and X baking on the probably were originally won't closing of guidance, in thought existed. of was X ones, to those. but I tell the of close would of polls So, you, the it long X polls of long process, second deal we part -- I we get deal, or that signed the regulatory into were expected thought thought it or as And approval we talked the the we half

about having number concerned polls. Now, those less with regulators months, period a long after of a of we're over the engaged various

that that or or are issues surprising. concerns any are heard haven't troubling We

we the progress good the the lot -- same, there's there's fact, of a across board. making for transaction. In enthusiasm federal front, think And the on

the we weeks concerning great And change that But in coming whether conservative, transaction. have closing the of not prepared we constantly increasingly that think on the feel about so -- yet our and our not months, guidance was But heard that. progress we at that. will original I any debate are confident issues coming update update guidance the to months We're to us and certainly to all.

Paul Bullington

Yes.

Uniti taking flowing $X for the line. we increase on the guidance increase Leasing or -- onetime revenue one-time revenues But deal from the we Frank, So in a of reported. million Leasing the year. it EBITDA one-time There's for as million is the to corresponding result a that benefit bottom are quarter, Uniti for up $X guidance this so our through

flowing just also increase through. expenses. a million So it at $X It's of by corporate being terms offset in is

result in SG&A performance-based decrease costs being those guidance corporate of EBITDA a primarily driven at as are comp. And a So costs. by increased

revenue -- to one-time through. it's there's So that profitability that's flowing just an offset

Kenneth Gunderman

before, all we're think not may They planning question, I be said uses. hyperscaler network, first IRU the single selling all the patterns, on are these first, But all The as they're selling not traditional on deals it's buying David, all, in of And cases, we course. customer. fiber worth this for and network are traditional but it's one also, just hyperscalers -- reminder, reiterating a of existing different we've typical waves same. their just future or of have dark current some and that

And so dark gig in or we traditional be or or we may fiber be XXX strands XX may the selling waves sense. XXX selling of X

even It's basis. to can't are the when real of will more a into -- the -- of cycle you in way, or of think I growing example, is think, fiber I heart the land that's fiber the hyperscalers, of a funnel, once the I or of on explaining edges capacity a where you're using deals for be edges question. What's actually grid that's -- then cached I it's data that's data and hyperscalers And a to power the not it or is, the at that lot the and highlight procuring we lot for sales and the become continue business start -- types and And that the a through the I think procuring we people it's for be where piece bookings start on can't new building of in network fiber used center. And would valuable. you think And can the And you centers, either and driving the a is existing terrific the a providers fiber initially. inference hit lot it's justify it's it look, not. an obviously phase, because unique your more are one-time to off part it I where see the lot building for like are and what's this for we're have not it's hyperscalers, of or a where has sale to decision the of deals it not go-forward it's there, grow that of location by That's from us, and looking and business the I lumpy these lit -- data time. building near MRR opposed that when a seeing to type of what tell will the the think it's you'll now, location. location. the those as flowing AI

And not so back question. It's it's sales traditional -- cycle, you really earlier goes to we're it a really my will. if not --

these the data build It's the comes for -- center, of then fiber. think required hyperscalers not and to the the the later. the power centers fiber and is I land the data capital majority to

there's that our good advantage about markets, last I -- economics, comes our getting ways, on built an in fiber core thing, a we right, time when it it and on it's And less bit of that's And expeditiously. getting we're little up to so think turned have and a more providing the getting focus that. because in some dollar markets,

Operator

the I time, now conference to Kenny this closing Gunderman At would over back for to remarks. like turn

Kenneth Gunderman

and Uniti to today. us interest forward your Thank further in calls. We appreciate on Thank future updating you. joining for look Group you you

Operator

concludes call. participating. today's Thank you This for conference

disconnect. now may You

Uniti (UNIT) 31 Oct 242024 Q3 Earnings call transcript