Uniti Group Inc.
For the period ended Mar 21, 2025. Filed Mar 21, 2025.
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A notice of a major event between regular reports, such as results, a deal or a change of executives. It is often the first formal record of the news.
Mar 21, 2025 · Filed Mar 21, 2025
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UNIT$5.22-2.7%Stored close · as of Nov 6, 2026
Contents
EX-99.1 · (In thousands, except per share data)
(In thousands, except per share data)
| For the year ended December 31, 2024 · For the year ended December 31, 2024 · For the year ended December 31, 2024 · For the year ended December 31, 2024 | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Uniti (Historical,as Reclassified) (Note 3) · Windstream (Historical) · Windstream Pre-Closing Transaction Adjustments (Note 5) · Windstream (Historical, as Adjusted) · Elimination of Intercompany Transactions (Note 9) · Merger Transaction Accounting Adjustments (Note 7) · Settlement of Pre-Existing Relationships Adjustments (Note 8) · Financing Adjustments (Note 10) · Pro Forma Combined (Assuming Favorable Private Letter Ruling) · Merger Transaction Adjustments (Assuming Unfavorable Private Letter Ruling) · Pro Forma Combined (Assuming Unfavorable Private Letter Ruling) | |||||||||||||||||||||||||
| Revenues | |||||||||||||||||||||||||
| Service and other revenues | $1,156,571 | $3,661,413 | $ | - | $3,661,413 | $(817,951) | 9A | $ | - | $ | - | $ | - | $3,992,822 | $ | - | $3,992,822 | ||||||||
| (7,211) | 9F | ||||||||||||||||||||||||
| Sales revenues | 10,356 | 56,940 | - | 56,940 | - | - | - | - | 67,296 | - | 67,296 | ||||||||||||||
| Total revenue | 1,166,927 | 3,718,353 | - | 3,718,353 | (825,162) | - | - | - | 4,060,118 | - | 4,060,118 | ||||||||||||||
| Operating expenses | |||||||||||||||||||||||||
| Cost of services and other revenues (exclusive of depreciation and amortization) | 131,481 | 2,308,529 | - | 2,308,529 | (8,784) | 9B | (205) | 7FF | - | - | 1,715,515 | - | 1,715,515 | ||||||||||||
| (696,893) | 9G | (18,613) | 7GG | ||||||||||||||||||||||
| Cost of sales | 8,896 | 43,456 | - | 43,456 | - | - | - | - | 52,352 | - | 52,352 | ||||||||||||||
| General and administrative expense | 105,019 | 653,513 | - | 653,513 | - | 64,176 | 7BB | - | - | 774,020 | - | 774,020 | |||||||||||||
| (60,604) | 7GG | ||||||||||||||||||||||||
| 11,916 | 7HH | ||||||||||||||||||||||||
| Depreciation and amortization | 314,810 | 801,679 | - | 801,679 | - | (366,588) | 7CC | - | - | 771,432 | - | 771,432 | |||||||||||||
| 21,531 | 7DD | ||||||||||||||||||||||||
| Transaction related and other costs | 38,734 | 26,519 | - | 26,519 | - | - | - | - | 65,253 | - | 65,253 | ||||||||||||||
| Net (gain) loss on asset retirement and dispositions | - | (24,959) | - | (24,959) | 41,603 | 9H | - | - | - | 16,644 | - | 16,644 | |||||||||||||
| Net (gain) loss on sale of operating assets | (18,953) | (128,969) | - | (128,969) | - | - | - | - | (147,922) | - | (147,922) | ||||||||||||||
| Total operating expenses | 579,987 | 3,679,768 | - | 3,679,768 | (664,074) | (348,387) | - | - | 3,247,294 | - | 3,247,294 | ||||||||||||||
| Operating (loss) income | 586,940 | 38,585 | - | 38,585 | (161,088) | 348,387 | - | - | 812,824 | - | 812,824 | ||||||||||||||
| Interest expense, net | (511,364) | (239,576) | 29,830 | 5AA | (209,746) | 6,224 | 9C | (10,123) | 7EE | - | (11,886) | 10BB | (745,012) | - | (745,012) | ||||||||||
| 3,320 | 9J | (11,437) | 10AA | ||||||||||||||||||||||
| Loss on early extinguishment of debt | - | (18,531) | - | (18,531) | - | - | - | - | (18,531) | - | (18,531) | ||||||||||||||
| Other (expense) income, net | 301 | (11,569) | - | (11,569) | - | - | 1,061,489 | - | 1,050,221 | 1,050,221 | |||||||||||||||
| (Loss) income before income taxes | 75,877 | (231,091) | 29,830 | (201,261) | (151,544) | 338,264 | 1,061,489 | (23,323) | 1,099,502 | 1,099,502 | |||||||||||||||
| Income tax (benefit) expense | (17,555) | (19,896) | 7,458 | 7KK | (12,438) | (200,736) | 9E | 84,565 | 7KK | 265,372 | 7KK | (5,831) | 7KK | (431,148) | 883,622 | 7NN | 452,474 | ||||||||
| - | 162,850 | 9I | (206,629) | 7LL | |||||||||||||||||||||
| (500,746) | 7MM | ||||||||||||||||||||||||
| Net (loss) income | 93,432 | (211,195) | 22,372 | (188,823) | (113,658) | 961,074 | 796,117 | (17,492) | 1,530,650 | (883,622) | 647,028 | ||||||||||||||
| Net income (loss) attributable to noncontrolling interests | 26 | - | - | - | - | (26) | 7AA | - | - | - | - | - | |||||||||||||
| Net (loss) income attributable to shareholders | 93,406 | (211,195) | 22,372 | (188,823) | (113,658) | 961,100 | 796,117 | (17,492) | 1,530,650 | (883,622) | 647,028 | ||||||||||||||
| Participating securities’ share in earnings | (2,080) | - | - | - | - | (27,756) | 7II | - | - | (29,836) | 17,952 | 7II | (11,884) | ||||||||||||
| Dividends declared on convertible preferred stock | (20) | - | - | - | - | 20 | 7AA | - | - | - | - | - | |||||||||||||
| Dividends accumulated on New Uniti preferred stock | - | - | - | - | - | (62,098) | 7JJ | - | - | (62,098) | - | (62,098) | |||||||||||||
| Net (loss) income attributable to common shares | $91,306 | $(211,195) | $22,372 | $(188,823) | $(113,658) | $871,266 | $796,117 | $(17,492) | $1,438,716 | $(865,670) | $573,046 | ||||||||||||||
| Earnings per common share | |||||||||||||||||||||||||
| Basic | $0.38 | ||||||||||||||||||||||||
| Diluted | $0.38 | ||||||||||||||||||||||||
| Weighted-average number of common shares outstanding | |||||||||||||||||||||||||
| Basic | 237,306 | ||||||||||||||||||||||||
| Diluted | 237,306 | ||||||||||||||||||||||||
| Pro forma earnings per common share | |||||||||||||||||||||||||
| Basic | $0.63 | 11A | $5.69 | 11B | $2.26 | 11B | |||||||||||||||||||
| Diluted | $0.63 | 11A | $4.38 | 11B | $1.88 | 11B | |||||||||||||||||||
| Pro forma weighted-average number of common shares outstanding | |||||||||||||||||||||||||
| Basic | 144,591 | 11A | 253,059 | 11B | 253,059 | 11B | |||||||||||||||||||
| Diluted | 144,591 | 11A | 348,674 | 11B | 348,674 | 11B | |||||||||||||||||||
See accompanying notes to unaudited pro forma condensed combined financial information.
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