The reiteration of full-year guidance and first-time YoY growth in revenue and Adjusted EBITDA as a combined company are incremental positives, but the widening GAAP net loss and high capex burn ($349.2M) signal the fiber build remains cash-intensive. Watch for progress toward the 2027 full-year YoY growth target and any additional asset securitizations that could lower the cost of capital.
Price Chart
Executive Summary
Uniti Group reported Q1 2026 revenue of $987.5M and a GAAP net loss of $70.3M, with consolidated revenue and Adjusted EBITDA growing year-over-year for the first time as a combined company. The company reiterated its full-year 2026 outlook for revenue of $3.605B-$3.655B and Adjusted EBITDA of $1.425B-$1.475B, while narrowing the net loss range to ($450M)-($400M). Fiber revenue grew 15% YoY and Kinetic consumer fiber gross adds hit a record 39,000, but the company remains GAAP-loss-making with high interest expense and capex.
Key Financial Metrics
Key Facts
- Q1 2026 consolidated revenue: $987.5M vs $293.9M in Q1 2025 (post-merger comparison not directly comparable)
- GAAP net loss: $70.3M vs net income of $12.2M in Q1 2025
- GAAP diluted EPS: ($0.34) vs $0.08 in Q1 2025
- Adjusted EBITDA: $441.6M vs $237.8M in Q1 2025
- Full-year 2026 outlook reiterated: revenue $3.605B-$3.655B, Adjusted EBITDA $1.425B-$1.475B
- Net loss outlook widened to ($450M)-($400M) from prior ($410M)-($360M)
- Consolidated fiber revenue grew 15% year-over-year
- Kinetic consumer fiber gross adds of 39,000 — highest ever on record
- Operating cash flow: $260.9M vs $8.6M in Q1 2025
- Capital expenditures: $349.2M vs $208.1M in Q1 2025
Financial Impact
Revenue grew 236% YoY to $987.5M (merger-driven), but GAAP net loss widened to $70.3M from income of $12.2M. Adjusted EBITDA grew 86% to $441.6M. Full-year outlook maintained.
Risk Factors
- GAAP net loss widened to $70.3M from income of $12.2M in the prior-year quarter
- Net loss outlook for FY2026 widened to ($450M)-($400M) from ($410M)-($360M)
- High interest expense of $188.3M and capex of $349.2M pressure free cash flow
- Integration risks from the Windstream merger continue
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-033147 |
| Document: unit-20260511.htm | 0001628280-26-033147 |
| Document: 0001628280-26-033147-index-headers.html | 0001628280-26-033147 |
| Document: 0001628280-26-033147-index.html | 0001628280-26-033147 |
| Document: 0001628280-26-033147.txt | 0001628280-26-033147 |
| 8-K Data (Synthetic) | 0001628280-26-033147 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 24, 2026 5w ago | Press Release | $9.85 $9.57 | ▼ −2.84% | ▼ −4.16% | $8.04 (−18.38%) |
Aug 21, 2026 6w ago | 8-K | $9.97 $9.46 | ▼ −5.12% | ▼ −4.59% | $8.04 (−19.36%) |
Aug 5, 2026 8w ago | Press Release | $9.69 $9.85 | ▼ −1.65% | ▼ −2.25% | $8.04 (+17.03%) |
Aug 5, 2026 8w ago | Press Release | $9.69 $9.85 | ▲ +1.65% | ▲ +2.25% | $8.04 (−17.03%) |
Jul 30, 2026 9w ago | 8-K | $9.29 $10.14 | ▼ −9.15% | ▼ −5.18% | $8.04 (+13.46%) |
Jul 17, 2026 11w ago | 8-K | $11.04 $10.01 | ▼ −9.33% | ▼ −13.78% | $8.04 (−27.17%) |
Jun 11, 2026 16w ago | Institutional Cluster | $12.52 $11.11 | ▼ −11.26% | ▼ −13.15% | $8.04 (−35.78%) |
Jun 5, 2026 17w ago | 8-K | $11.49 $11.04 | ▼ −3.92% | ▼ −5.55% | $8.04 (−30.03%) |
Jun 1, 2026 17w ago | 8-K | $11.13 $11.47 | ▲ +3.05% | ▲ +4.35% | $8.04 (−27.76%) |
Jun 1, 2026 17w ago | Press Release | $11.13 $11.47 | ▲ +3.05% | ▲ +4.35% | $8.04 (−27.76%) |
US Market Status
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