10-K · March 2, 2026
Uniti Group completed the Windstream/Old Uniti merger on August 1, 2025 and restructured into a combined digital infrastructure company organized into Kinetic, Uniti Solutions and Fiber Infrastructure. For the year…
Earnings analysis · 10-Q
UNIT earnings analysis
Filed May 11, 2026 · Our reading of the company's report
The latest report
Uniti Group reported a solid revenue growth in Q1 2026, achieving $987.5 million, which exceeds market expectations and represents a year-over-year increase of $693.6 million. Despite the revenue beat, the company…
Read full summary
Uniti Group reported a solid revenue growth in Q1 2026, achieving $987.5 million, which exceeds market expectations and represents a year-over-year increase of $693.6 million. Despite the revenue beat, the company recorded a net loss of $70.3 million, with diluted EPS at -$0.34, missing estimates slightly. Management remains focused on long-term growth through its segments, particularly Kinetic, which showed promising subscriber metrics.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $-0.34
- Segment
- Kinetic
- Segment
- Uniti Solutions
- Segment
- Fiber Infrastructure
What stood out
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Revenue Exceeds Expectations
Actual revenue of $987.5 million for Q1 2026, up 64.6% from $293.9 million in Q1 2025, exceeding estimates by $63.1 million.
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Steady Customer Growth in Kinetic
Kinetic segment service revenues reached $511.8 million, contributing significantly to total company revenues.
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Operating Income Improvement
The company reported an operating income of $110.9 million, despite a decrease from $145.7 million year-over-year, reflecting operational adjustments post-merger.
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Strong Revenue Performance
Sales revenues from dark fiber and equipment grew substantially, contributing $98.5 million compared to just $3.1 million in the prior year.
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Positive Cash Flow from Operations
Operating cash flow increased to $260.9 million in Q1 2026, a significant rise from $8.6 million in Q1 2025.
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Kinetic Segment Customer Base Growth
Kinetic segment ended Q1 2026 with 564,000 fiber subscribers, demonstrating a 29% penetration rate with ongoing growth initiatives.
What to watch
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Significant Net Loss
Net loss for Q1 2026 was $70.3 million compared to a gain of $12.2 million a year ago, highlighting financial volatility.
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Transaction-Related Costs Impact
Transaction-related and other costs increased to $30.1 million, up by $22.3 million from Q1 2025, impacting overall profitability.
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High Capital Expenditures
Capex of $349.2 million for Q1 2026, reflecting aggressive network expansion strategies that may strain liquidity.
Management's outlook
Management reiterated its full-year 2026 guidance, expecting revenues between $3,605 million and $3,655 million, and a net loss in the range of $(450) to $(400) million.
Earlier filings 4
10-Q · November 7, 2025
Uniti reported total revenues of $722.6 million for the three months ended September 30, 2025, up $430.4 million from $292.2 million in the prior-year quarter. Operating loss was $42.6 million (operating margin -5.9%),…
10-Q · July 31, 2025
This 10-Q shows Windstream Parent, Inc. (New Uniti) has no operating activity to date and holds a minimal balance sheet in advance of the planned merger of Windstream and Uniti. Management states Windstream expects the…
10-K · March 24, 2025
This 10-K is for Windstream Parent, Inc., a shell company formed April 19, 2024 to effect the merger of Windstream and Uniti; the Company reports no assets, operations or cash flows as of December 31, 2024. The filing…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.