Sprint To Report Financial Results Week Ahead of Schedule
Sprint moved up the expected date of the release of fiscal Q3 financial results by a week to Tuesday at 8:30 a.m. Wells Fargo analyst Jennifer Fritzsche said the move was likely aimed at stopping its bond and equity “free…
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fall.” Fritzsche said in a note to investors that she welcomes the report. “Our checks would show that S saw some momentum with net adds and continued low churn,” she wrote, referring to its stock symbol. “We continue to believe the bonds (which are trading at distressed levels) and equity are trading a worst case scenario and well below the asset value of the 2.5 GHz spectrum” owned by Sprint, she wrote. Jonathan Chaplin, analyst at New Street Research, said recent Sprint moves on its network mean the carrier won’t be deploying additional macro cell sites (see 1601150061). “We always thought Sprint needed to significantly boost the number of cell sites in order to have a competitive network,” Chaplin wrote. “They may be able to get there more cheaply and quickly using small cells for 2.5 GHz rather than traditional macro cells. The expense savings come primarily from using wireless backhaul for the small cells rather than fibre. The time savings come from a significantly streamlined zoning and permitting process (in many cases none is required at all).” Sprint did not comment.