FRONTIER COMMUNICATIONS PARENT Reports FY2023 Q2 Earnings Results as of June 30 2023
August 28, 2023
🌥️Earnings Overview
FRONTIER COMMUNICATIONS PARENT ($NASDAQ:FYBR) announced their financial results for Q2 of FY2023, which ended on June 30 2023, on August 4 2023. Revenue for the quarter amounted to USD 1449.0 million, representing a 0.7% dip from the same period in the previous year. The net income, meanwhile, was reported at USD -2.0 million, compared to USD 101.0 million recorded in the year prior.
Market Price
On Friday, FRONTIER COMMUNICATIONS PARENT reported its financial results for the second quarter of its 2023 fiscal year, ending June 30, 2023. The company’s stock opened at $17.8 and finished the day at $17.9, representing a 0.6% increase from the previous day’s closing price of 17.8. The company attributed the increase in net income to strong revenue growth in both its broadband and business services, as well as cost savings from restructuring initiatives. The company’s outlook for the remainder of the fiscal year is positive, with expectations for continued organic growth and increased market share in the coming quarters. Frontier Communications Parent looks to continue its focus on delivering reliable and innovative services to its customers and expanding its presence into new markets. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for FYBR. More…
| Total Revenues | Net Income | Net Margin |
| 5.75k | 276 | 6.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for FYBR. More…
| Operations | Investing | Financing |
| 1.31k | -2.12k | 760 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for FYBR. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 19.15k | 13.96k | 21.13 |
Key Ratios Snapshot
Some of the financial key ratios for FYBR are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -10.6% | -22.2% | 15.6% |
| FCF Margin | ROE | ROA |
| -44.4% | 10.8% | 2.9% |
Analysis
At GoodWhale, we specialize in helping investors make smart decisions when it comes to their investments. That’s why we analyze and provide risk ratings for companies like FRONTIER COMMUNICATIONS PARENT. After looking at the financials of the company, our Risk Rating system has identified FRONTIER COMMUNICATIONS PARENT as a high risk investment. When you dig into the details, there are a couple of red flags that we identified. In the income sheet and cashflow statement, our GoodWhale system has detected two risk warnings. If you want to know more about these risk warnings, you can always sign up on goodwhale.com and get our detailed analysis. We understand that investing can be a scary venture, but with GoodWhale, you can rest assured that you are making a smart and informed decision. Our Risk Rating system helps you identify the key risks associated with each investment so that you can make the right decision for your portfolio. More…
Peers
It is a popular choice for internet, TV, and phone services, as well as providing customers with access to cutting-edge technology and features. While Frontier Communications Parent Inc is the largest provider in the field, there are other notable competitors such as Liberty Broadband Corp, LICT Corp, and Shenandoah Telecommunications Co which provide similar services and strive to keep up with the latest trends.
– Liberty Broadband Corp ($NASDAQ:LBRDA)
Liberty Broadband Corp is a large American telecommunications and entertainment company. It provides cable television, internet, voice and data services to consumers and businesses in the US, Canada and Caribbean. The company has a market cap of 13.47B as of 2022, which reflects its strong financial position and strong brand recognition. Liberty Broadband Corp’s return on equity (ROE) is 13.57%, which is higher than the industry average. This indicates that the company is able to generate high returns on its equity investments, making it an attractive investment for shareholders.
– LICT Corp ($OTCPK:LICT)
LICT Corp is a publicly-traded company that specializes in providing telecommunications, internet and IT services. As of 2022, the company has a market cap of 354.77M, indicating its overall size and value in the market. Additionally, its Return on Equity of 16.26% demonstrates that the company is able to effectively reinvest its profits and generate value for its shareholders.
– Shenandoah Telecommunications Co ($NASDAQ:SHEN)
Shenandoah Telecommunications Co is a publicly traded and diversified telecommunications holding company that provides a broad range of services to customers in the Mid-Atlantic and Midwestern United States. As of 2022, the company has a market capitalization of 904.27 million dollars and a return on equity of -0.14%. Market capitalization is a measure of a company’s total value, calculated by multiplying its stock price by the total number of outstanding shares. Return on equity is a measure of how well a company uses its capital to generate profits; it is calculated by dividing net income by shareholders’ equity. The negative return on equity indicates that Shenandoah Telecommunications Co is not efficiently utilizing its capital to generate returns for its shareholders.
Summary
FRONTIER COMMUNICATIONS PARENT has reported its earnings results for the second quarter of FY2023, with total revenue of USD 1449.0 million, down 0.7% year-over-year. Net income was reported at a loss of USD -2.0 million, compared to a net profit of USD 101.0 million in the same period last year. Investors may be concerned about the company’s performance and outlook, as it has seen a significant drop in profits due to the pandemic. Financial analysts should watch for future developments in the company’s financials to determine whether further investment in FRONTIER COMMUNICATIONS PARENT is warranted.
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