Compared to Estimates, Uniti (UNIT) Q2 Earnings: A Look at Key Metrics
Uniti Group (UNIT) reported $283.7 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 0.1%. EPS of $0.34 for the same period compares to $0.21 a year ago.
The reported revenue represents a surprise of -2.35% over the Zacks Consensus Estimate of $290.51 million. With the consensus EPS estimate being $0.34, the company has not delivered EPS surprise.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Uniti performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Leasing: $212.45 million compared to the $210.56 million average estimate based on three analysts. The reported number represents a change of +3.3% year over year.
Revenues- Fiber infrastructure: $71.25 million versus $79.29 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -9.1% change.
Net Earnings Per Share (Diluted): $0.11 versus $0.12 estimated by three analysts on average.
View all Key Company Metrics for Uniti here>>>
Shares of Uniti have returned +11.9% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Uniti Group Inc. (UNIT) : Free Stock Analysis Report
