New Street Research - FRONTIER COMMUNICATIONS PARENT INC (FYBR) FYBR 3Q24 Quick Take: Subscribers beat; EBITDA in line; all eyes on the vote

Report

New Street Research

Jonathan Chaplin

EUR 9547.00 For Business Accounts Only

FYBR 3Q24 Quick Take: Subscribers beat; EBITDA in line; all eyes on the vote

Fiber deployment and fiber net adds were both exceptional. EBITDA was in-line, despite the strong growth (higher SAC from higher growth will have been a drag on EBITDA). If Frontier remains independent after November 13th, these results will provide strong support for management’s strategy and execution prowess.

06/11/2024 1 EN

Underlying

FRONTIER COMMUNICATIONS PARENT INC

See profile

US35909D1090

Provider

New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

New Street Research is an independent, partner-owned, research firm specialising in equity and debt research. Our equity research embraces the following sectors:

Pan European Telecom Services and Cable
US Telecoms, Cable, Satellite and Towers
Global Emerging Market Telecoms
Japan Telecoms
Asian Internet
Pan European Healthcare
Global healthcare thematic research

We provide debt research on:

Pan European Telecom Services and Cable

See profile

Analysts

Jonathan Chaplin

Other Reports on these Companies

New Street Research

FYBR: Verizon acquisition approved!

Shareholders representing 63% of the shares voted in favor of the transaction this morning. We congratulate the Frontier and Verizon management teams for getting the deal done. While we think Frontier should have received more, we recognize that most large shareholders will lock in a very substantial gain while removing uncertainty with this transaction. This is a strong win for Verizon, who will secure a great asset at a great price.

EUR 9547.00

November 13, 2024 November 13, 2024 1 EN

New Street Research

Frontier vs Ziply – did BCE overpay

When examining the very significant premium that Ziply is receiving from BCE over what Frontier has been offered by Verizon, investors have asked two further questions: first, why was BCE willing to pay a higher price for Ziply than they were willing to pay for Frontier (they bid on both assets); second, how do we know they aren’t just overpaying for Ziply. We cover both questions in this brief note.

EUR 9547.00

November 11, 2024 November 11, 2024 1 EN

New Street Research

Frontier vs Ziply – accounting for future opportunities

Investors are inevitably comparing the price that Verizon has offered for Frontier to the price that BCE has offered for Ziply. We have been asked whether buyers would give the operators credit for locations they haven’t deployed fiber to yet. If so, the price for Ziply isn’t so compelling, given their plans to more than double their fiber footprint. The answer: absolutely not! We walk through our thought process in this brief note.

EUR 9547.00

November 10, 2024 November 10, 2024 1 EN

Alphabet (GOOGL, Buy, $213 target) Forget Chrome, 3P payments are the heart of the issue

Yesterday the DOJ filed its proposed remedies in the Search antitrust case. The recommended divestiture of Chrome drew most of the headlines. And while potentially very negative for GOOGL (as are all proposed remedies), we don’t believe it is the most impactful to the market for general search services.

EUR 9547.00

3h / 59m 3h / 59m 1 EN

Jonathan Chaplin

Jonathan Chaplin

SATS: DBS merger breaks

According to press reports, TPG will call off the merger today. For the merger to proceed, bondholders needed to agree to a debt exchange. Apparently, they have rejected the exchange. Our quick thoughts in this brief note.

EUR 9547.00

12h / 50m 12h / 50m 1 EN

Jonathan Chaplin

Jonathan Chaplin

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

In this iteration of “Broadband Trends” we update our FWA capacity forecast. We also touch on early signs that demand for FWA may be limited, which could prevent mobile operators from reaching capacity limits (or force them to work harder to get there). This could have a big impact on the pace of Cable subscriber growth. Finally, we reprise our work on the competitive positioning of the various operators based on relative NPS scores.

EUR 9547.00

13h / 13m 13h / 13m 1 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

FYBR 3Q24 Quick Take: Subscribers beat; EBITDA in line; all eyes on the vote

FYBR: Verizon acquisition approved!

Frontier vs Ziply – did BCE overpay

Frontier vs Ziply – accounting for future opportunities

Alphabet (GOOGL, Buy, $213 target) Forget Chrome, 3P payments are the heart of the issue

SATS: DBS merger breaks

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe