Uniti Group Stock Earnings Reports

Uniti reported strong Q1 2026 execution driven by accelerated fiber builds and hyperscaler activity. Total fiber revenue grew 15% year-over-year, with Fiber Infrastructure up 13% and Kinetic consumer fiber revenue up 26%. Kinetic expanded fiber passings by ~88,000 homes during the quarter (ending ~1.94M homes passed) and added 30,000 net new fiber subscribers (564,000 fiber subs total). Management reiterated 2026 operational targets: Kinetic aims to pass 450k–500k new homes with fiber in 2026 and reach 2.3M–2.35M homes passed by year-end, with an expected 675k–700k fiber subs and $635M–$655M consumer fiber revenue. Consolidated 2026 guidance (midpoint) is ~$3.63B revenue, ~$1.45B adjusted EBITDA and ~ $1.4B consolidated net CapEx (Kinetic net CapEx midpoint ~$1.2B; Fiber Infrastructure net CapEx midpoint ~$140M). Hyperscaler AI demand remains a major tailwind: Uniti recorded strong hyperscaler sales-type lease activity (including a 20-terabit wave sale) and expects ~6,000 new route miles and nearly $1B of cumulative nonrecurring cash revenue by 2028, with the potential for up to $500M of recurring annual cash revenue over time. Management highlighted improved operational metrics at Kinetic (record gross adds, best-ever consumer fiber churn and improved installation/repair efficiency) and reiterated progress on key milestones (over 50% of Kinetic subs on fiber and over 50% of Kinetic consumer revenue on fiber achieved). Capital structure actions have materially lowered blended debt yields (~12.5% to ~6.5% over three years) and management plans to continue using ABS selectively while maintaining a balanced funding mix. They also noted $500M–$1B of potential noncore asset monetization opportunities over the next 12–36 months. Overall, Uniti frames 2026 as an investment and inflection year, with a multi-year opportunity from hyperscaler builds, lease-up/inference phases, and improving recurring fiber economics.