Uniti Group Inc. Reports Third Quarter 2026 Results
Uniti Group Inc. (UNIT) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Press Release Release date: November 9, 2026 Uniti Group Inc. Reports Third Quarter 2026 Results Two Straight Quarters of Record Waves Bookings Raising Full Year Revenue Guidance • Net Loss of $244.5 Million for the Third Quarter • Consolidated Revenue and Adjusted E
How this was made
The 30-second read
Why it matters
The updated guidance reflects strong demand from hyperscalers and large enterprises, but the increased net loss highlights higher capital spending.
Market read
Earnings and guidance update are primary drivers for the stock; sector peers may be impacted by the highlighted demand trends.
What to watch
Capital expenditures remain high, and future financing costs could constrain profitability.
Two Straight Quarters of Record Waves Bookings; Raising Full Year Revenue Guidance. Q3 net loss of $244.5 million; consolidated revenue $848.1 million and Adjusted EBITDA $289.3 million.
Revenue rose to $848.1 million from $722.6 million and the company reports record Kinetic premises constructed and net adds, with bookings MRR of approximately $1.9 million. Against that, Q3 net loss was $(244.5) million against net income of $1,608.9 million in the prior-year quarter, Adjusted EBITDA fell to $289.3 million from $327.8 million, Fiber Infrastructure contribution margin fell to $98.4 million from $156.7 million, and interest expense rose to $205.5 million from $168.2 million.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total revenues and sales, Q3 2026 (three months ended Sept 30)GAAP | $848.1M | – | – |
| Service revenues, Q3 2026GAAP | $809.6M | – | – |
| Sales revenues, Q3 2026GAAP | $38.5M | – | – |
| Cost of services (exclusive of D&A), Q3 2026GAAP | $350.9M | – | – |
| Cost of sales (exclusive of D&A), Q3 2026GAAP | $40M | – | – |
| Selling, general and administrative, Q3 2026GAAP | $188.2M | – | – |
| Depreciation and amortization, Q3 2026GAAP | $292.8M | – | – |
| Transaction related and other costs, Q3 2026GAAP | $19.7M | – | – |
| Total costs and expenses, Q3 2026GAAP | $891.6M | – | – |
| Operating (loss) income, Q3 2026GAAP | −$43.5M | – | – |
| Interest expense, net, Q3 2026GAAP | −$205.5M | – | – |
| Income tax (expense) benefit, Q3 2026GAAP | −$4M | – | – |
| Net (loss) income, Q3 2026GAAP | −$244.5M | – | – |
| Net (loss) income attributable to common shareholders, Q3 2026GAAP | −$260.3M | – | – |
| Diluted (loss) earnings per common share, Q3 2026GAAP | ($1.03) | – | – |
| Basic (loss) earnings per common share, Q3 2026GAAP | ($1.03) | – | – |
| EBITDA, Q3 2026non-GAAP | $260.5M | – | – |
| Adjusted EBITDA, Q3 2026non-GAAP | $289.3M | – | – |
| Kinetic contribution margin, Q3 2026other | $190.2M | – | – |
| Fiber Infrastructure contribution margin, Q3 2026other | $98.4M | – | – |
| Uniti Solutions contribution margin, Q3 2026other | $85.9M | – | – |
| Total contribution margin, Q3 2026other | $374.5M | – | – |
| Kinetic contribution margin margin level, Q3 2026other | approximately 37% | – | – |
| Fiber Infrastructure contribution margin level, Q3 2026other | approximately 49% | – | – |
| Uniti Solutions contribution margin level, Q3 2026other | approximately 49% | – | – |
| Consolidated fiber revenue growth, Q3 2026 (pro forma)other | 6% | – | 6% year-over-year (pro forma) |
| Kinetic consumer fiber revenue growth, Q3 2026 (pro forma)other | 22% | – | 22% year-over-year (pro forma) |
| Fiber Infrastructure new bookings MRR, Q3 2026other | ~$1.9 million | – | 20% increase from the same period in the prior year |
| Kinetic consumer fiber net adds, Q3 2026other | ~46,000 | – | – |
| Kinetic consumer fiber premises constructed, Q3 2026other | 162,000 | – | – |
| Kinetic capital expenditures, Q3 2026other | $371.2M | – | – |
| Fiber Infrastructure capital expenditures, Q3 2026other | $80.4M | – | – |
| Uniti Solutions capital expenditures, Q3 2026other | $7.2M | – | – |
| Total revenues and sales, nine months 2026GAAP | $2.75B | – | – |
| Service revenues, nine months 2026GAAP | $2.55B | – | – |
| Sales revenues, nine months 2026GAAP | $193.8M | – | – |
| Cost of services, nine months 2026GAAP | $1.05B | – | – |
| Cost of sales, nine months 2026GAAP | $111.4M | – | – |
| Selling, general and administrative, nine months 2026GAAP | $535.3M | – | – |
| Depreciation and amortization, nine months 2026GAAP | $888.5M | – | – |
| Transaction related and other costs, nine months 2026GAAP | $59.4M | – | – |
| Total costs and expenses, nine months 2026GAAP | $2.65B | – | – |
| Operating income, nine months 2026GAAP | $99.6M | – | – |
| Interest expense, net, nine months 2026GAAP | −$589.4M | – | – |
| Income tax (expense) benefit, nine months 2026GAAP | −$4.9M | – | – |
| Net (loss) income, nine months 2026GAAP | −$470.7M | – | – |
| Net (loss) income attributable to common shareholders, nine months 2026GAAP | −$517.7M | – | – |
| Diluted (loss) earnings per common share, nine months 2026GAAP | ($2.05) | – | – |
| Basic (loss) earnings per common share, nine months 2026GAAP | ($2.05) | – | – |
| EBITDA, nine months 2026non-GAAP | $1.01B | – | – |
| Adjusted EBITDA, nine months 2026non-GAAP | $1.09B | – | – |
| Kinetic contribution margin, nine months 2026other | $654.1M | – | – |
| Fiber Infrastructure contribution margin, nine months 2026other | $412.9M | – | – |
| Uniti Solutions contribution margin, nine months 2026other | $273.5M | – | – |
| Total contribution margin, nine months 2026other | $1.34B | – | – |
| Net cash provided from operating activities, nine months 2026GAAP | $467.1M | – | – |
| Capital expenditures, nine months 2026GAAP | −$1.27B | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| KineticContributed $190.2 million of contribution margin, approximately 37% per the release. Kinetic capital expenditures were $371.2 million. Release states Kinetic consumer fiber revenue grew 22% year-over-year on a pro forma basis, record 162,000 premises constructed and approximately 46,000 net adds, with 50% of Kinetic's total footprint now passed with fiber. | $515.3M | – | – |
| Fiber InfrastructureContributed $98.4 million of contribution margin, approximately 49% per the release, against $156.7 million in the prior-year quarter. Capital expenditures were $80.4 million and upfront payments received from customers were $50.4 million. New bookings MRR of approximately $1.9 million, described as the second highest level on record and a 20% increase from the same period in the prior year. | $201.5M | – | – |
| Uniti SolutionsContributed $85.9 million of contribution margin, approximately 49% per the release, against $68.0 million in the prior-year quarter. Capital expenditures were $7.2 million. Nine-month contribution margin of $273.5 million compared with $68.0 million in the prior-year period as printed. | $175.9M | – | – |
Amounts quoted below without a unit are in millions, as in the filing’s tables. Per-share figures are as printed.
Full year 2026 (updated outlook) outlook
- Revenue$3,665 to $3,695 million
- NoteNet loss $(620) to $(590) million
- NoteAdjusted EBITDA (non-GAAP) $1,460 to $1,490 million
- NoteInterest expense, net 800 to 800 million
- NoteEBITDA (non-GAAP) $1,370 to $1,400 million
- NoteDepreciation and amortization $1,185 million
- NoteIncome tax expense $5 million
- NoteStock-based compensation $30 million
- NoteTransaction related and other costs $60 million (future transaction costs not mentioned in the release are excluded)
Capital returns
- Preferred stock dividends declared: $15.8 million in Q3 2026 versus $9.9 million in Q3 2025; $47.0 million in nine months 2026 versus $9.9 million in nine months 2025 (GAAP).
- Payments of preferred stock dividends: $(33.4) million in nine months 2026 (cash flow statement).
- Share repurchases are not reported in the release.
What drove it
- Company states Consolidated Fiber Revenue grew 6% year-over-year in the third quarter on a pro forma basis.
- Company states Kinetic consumer fiber revenue grew 22% year-over-year in the third quarter on a pro forma basis.
- Company states Kinetic consumer fiber premises constructed were 162,000, the highest level on record, and net adds of approximately 46,000 were the most ever in a quarter.
- Company states 50% of Kinetic's total footprint is now passed with fiber, and it remains on track to pass 3.5 million homes with fiber by the end of 2029.
- Company attributes the bookings strength to demand from Hyperscalers, Superscalers and increasingly traditional large enterprises for dark and lit wave solutions.
- Company says the outlook update reflects business unit level revisions, recent financing transactions, and transaction related and other costs incurred to date.
- Release headline describes the company as raising full year revenue guidance; the prior range is not included in the documents provided.
Concerns
- Net loss of $(244.5) million in Q3 2026 compares with net income of $1,608.9 million in Q3 2025. The prior-year statement of operations shows a gain on settlement of preexisting relationships of $1,685.4 million in that quarter.
- Adjusted EBITDA of $289.3 million compares with $327.8 million in Q3 2025, and total contribution margin of $374.5 million compares with $385.7 million.
- Fiber Infrastructure contribution margin of $98.4 million compares with $156.7 million in the prior-year quarter.
- Interest expense, net of $205.5 million compares with $168.2 million, and nine-month interest expense of $589.4 million compares with $426.5 million.
- Total shareholders' deficit of $(79.5) million at September 30, 2026, against equity of $380.4 million at December 31, 2025.
- Noncurrent notes and other debt rose to $11,273.0 million from $9,529.4 million at year-end 2025.
- Capital expenditures were $(1,273.9) million in nine months 2026 against operating cash flow of $467.1 million; free cash flow is not reported in the release.
What to watch
- Whether Kinetic consumer fiber revenue growth and net adds continue at the pro forma pace reported for Q3 2026.
- Fiber Infrastructure contribution margin trajectory, given the decline from $156.7 million to $98.4 million year over year.
- Interest expense trend against the full-year 2026 outlook of 800 to 800 million.
- Progress on the full-year 2026 Adjusted EBITDA range of $1,460 to $1,490 million and net loss range of $(620) to $(590) million.
- Fiber Infrastructure bookings MRR and upfront customer payments as indicators of large-enterprise and hyperscale demand.
- Refinancing and debt levels, given debt issuance of $3,213.3 million in nine months 2026 and the cash balance of $861.5 million at quarter end.
Balance sheet and cash flow
- Cash and cash equivalents: $861.5 million at September 30, 2026 versus $53.5 million at December 31, 2025 (balance sheet comparison is to year-end, not to prior-year quarter).
- Restricted cash: $159.6 million at September 30, 2026 versus $80.6 million at December 31, 2025.
- Notes and other debt, net (noncurrent): $11,273.0 million at September 30, 2026 versus $9,529.4 million at December 31, 2025. Current portion of notes and other debt: $2.0 million versus $10.0 million.
- Total assets: $13,475.4 million at September 30, 2026 versus $12,036.7 million at December 31, 2025.
- Total liabilities: $13,554.9 million at September 30, 2026 versus $11,656.3 million at December 31, 2025.
- Total shareholders' (deficit) equity: $(79.5) million at September 30, 2026 versus $380.4 million at December 31, 2025.
- Nine-month cash flow: proceeds from issuance of debt $3,213.3 million; repayments of debt $(1,430.0) million; capital expenditures $(1,273.9) million; capital expenditures funded by government grants $(36.1) million; grant funds received for broadband expansion $47.0 million.
- Interest paid, net of interest capitalized: $540.9 million in nine months 2026 versus $455.8 million in nine months 2025 (non-cash section of cash flow statement).
- Cash, restricted cash and cash equivalents at end of period: $1,021.1 million versus $231.9 million in nine months 2025.
Analysis
Uniti reported third quarter 2026 consolidated revenues and sales of $848.1 million, up from $722.6 million in the third quarter of 2025, with service revenues of $809.6 million against $695.3 million and sales revenues of $38.5 million against $27.3 million. The company reports pro forma growth of 6% in Consolidated Fiber Revenue and 22% in Kinetic consumer fiber revenue. It also reports 162,000 Kinetic premises constructed, approximately 46,000 net adds and 50% of Kinetic's footprint passed with fiber. The release presents these operating metrics as records, and the operating scale of the build is the main positive in the quarter.
Profitability moved in the other direction. Total costs and expenses rose to $891.6 million from $765.2 million, with depreciation and amortization of $292.8 million against $202.3 million, cost of services of $350.9 million against $261.4 million, and SG&A of $188.2 million against $121.2 million. Operating loss was $(43.5) million against $(42.6) million. Transaction related and other costs were $19.7 million against $157.7 million, which the filing lists as a separate line. Interest expense, net was $(205.5) million against $(168.2) million. Net loss was $(244.5) million, and diluted loss per share was $(1.03). The prior-year net income of $1,608.9 million includes a gain on settlement of preexisting relationships of $1,685.4 million shown on the statement of operations, so the year-over-year comparison of net results is not like for like. Adjusted EBITDA, a non-GAAP measure, was $289.3 million against $327.8 million.
By segment, the release shows Kinetic revenue of $515.3 million with contribution margin of $190.2 million, Fiber Infrastructure revenue of $201.5 million with contribution margin of $98.4 million (against $156.7 million in the prior-year quarter), and Uniti Solutions revenue of $175.9 million with contribution margin of $85.9 million (against $68.0 million). Total contribution margin was $374.5 million against $385.7 million. The release does not print prior-year revenue by segment, so segment revenue growth cannot be compared from these documents. Capital expenditures were $371.2 million for Kinetic, $80.4 million for Fiber Infrastructure and $7.2 million for Uniti Solutions, with $50.4 million of upfront payments received from Fiber Infrastructure customers.
On the balance sheet, cash and cash equivalents rose to $861.5 million from $53.5 million at December 31, 2025, and noncurrent notes and other debt rose to $11,273.0 million from $9,529.4 million. Total shareholders' equity moved to a deficit of $(79.5) million from $380.4 million at year-end. Nine-month operating cash flow was $467.1 million against $229.8 million, while capital expenditures were $(1,273.9) million against $(461.2) million. The release does not report free cash flow, and the documents do not explain the cash build beyond the debt issuance of $3,213.3 million and repayments of $1,430.0 million shown in the cash flow statement.
The full year 2026 outlook was updated, with revenue of $3,665 to $3,695 million, net loss of $(620) to $(590) million, Adjusted EBITDA of $1,460 to $1,490 million and interest expense, net of 800 to 800 million. The company states the update reflects business unit level revisions, recent financing transactions and transaction related and other costs. The headline describes raised revenue guidance, but the previous range is not in the documents provided, so no comparison to prior guidance is made here. Consensus expectations and any share price reaction are not in the filing.
Management, verbatim
We once again had a record-breaking quarter at Uniti on several fronts, highlighted by our highest level of Kinetic consumer fiber premises constructed in a single quarter of 162,000 households.
Kenny Gunderman, President and Chief Executive Officer
At Fiber Infrastructure, we recorded $1.9 million of new bookings MRR, our second highest level on record and a 20% increase from the same period in the prior year.
Kenny Gunderman, President and Chief Executive Officer
Not in the filing
stated, not guessed- Prior full-year 2026 outlook (no previous release provided), so the change in guidance and vs_prior_guidance comparison cannot be made from the documents.
- Prior-year (Q3 2025) revenue by segment: Kinetic, Fiber Infrastructure and Uniti Solutions revenue comparatives are not printed.
- Year-over-year and quarter-over-quarter percentage changes for consolidated revenue, costs, operating loss, net loss and Adjusted EBITDA are not printed.
- Second quarter 2026 comparatives (quarter-over-quarter changes) are not included in the documents.
- Free cash flow is not reported.
- Consolidated Fiber Revenue and Kinetic consumer fiber revenue in dollar amounts are not printed; only the growth percentages are given, on a pro forma basis.
- Share repurchase activity is not reported.
- Prior-year and prior-quarter comparatives for Fiber Infrastructure bookings MRR and Kinetic net adds are not printed.
- Consensus estimates and share price reaction are not in the documents.
- Basis of the contribution margin percentages (approximately 37%, 49%, 49%) beyond the printed approximation is not given.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.
Background
Uniti Group is a Nasdaq‑listed fiber provider that disclosed its Q3 2026 earnings and raised its full‑year revenue outlook.
Ticker impact
Uniti Group reported Q3 2026 results with $848.1M revenue, $244.5M net loss and updated full-year 2026 revenue guidance to $3.665‑$3.695B.
mixed pressure as investors weigh higher revenue against a larger net loss and updated guidance
Large‑cap fiber provider with material numbers; guidance lift is new information that can move the stock immediately.
Market effects
May boost outlook for telecom infrastructure and fiber‑to‑home providers.
Positive for U.S. broadband and data‑center demand outlook.
Limited to U.S. telecom sector; no broader macro effect.
Counterpoint
The widening loss could signal cost pressures that outweigh revenue growth, suggesting a short‑term downside.
Key entities
- CompanyUniti Group Inc.
Nasdaq‑listed fiber infrastructure provider.
