Frontier Communications reports 2017 Q3 results

Frontier Communications Corporation (NASDAQ:FTR) has reported financial results for the third quarter ended September 30, 2017, the company said.

Consolidated revenues for the third quarter were USD 2.25 billion. Within consolidated revenue, consumer revenue was USD 1.1 billion, commercial revenue was USD 958 million and regulatory revenue was USD 191 million.

Net loss for the third quarter of 2017 was USD 38 million. Net loss attributable to common shares was USD 92 million for a diluted net loss per common share of USD 1.19. Adjusted EBITDA2 totaled USD 914 million for an adjusted EBITDA margin3 of 40.6%. During the third quarter of 2017, we revised our methodology for calculating adjusted EBITDA. See footnote 1, above, for a detailed description of the revision and the reasons for making the revision.

The company achieved more than USD 19 million of synergies in Q3 and remains on track to achieve its target of USD 350 million in annual savings by mid-2018.

Net cash provided from operating activities was USD 356 million for the third quarter of 2017. Adjusted free cash flow4 was USD 182 million for the third quarter.

Frontier Communications provides communications services to urban, suburban, and rural communities in 29 states. Frontier offers a variety of services to residential customers over its fiber-optic and copper networks, including video, high-speed Internet, advanced voice, and Frontier Secure® digital protection solutions. Frontier Business Edge™ offers communications solutions to small, medium, and enterprise businesses. More information about Frontier is available at www.frontier.com.