Frontier Begins Laying Out Fiber Plans
Frontier emerged from Chapter 11 bankruptcy with a 6.3% decline in Q1 revenue from the year-ago quarter to $1.68 billion, the company announced Friday (see 2104230055). Frontier extended its fiber network to 100,000 locations in Q1 as part of its…
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goal to reach 495,000 by year-end. Video subscribers declined 141,000, excluding Dish Network. Frontier expects to give investors more details about fiber expansion in August. The carrier expects to begin trading Tuesday on Nasdaq as FYBR. Incoming Executive Chairman John Stratton said that “we have a ton of opportunity right ahead." Fitch Ratings said the telco may get "the opportunity to increase investments in key strategic areas." New management (see 2104200087) "came across as confident and optimistic," said analyst Nick Del Deo of MoffettNathanson. Management "gets the sense of urgency," said New Street's Jonathan Chaplin.