News & Events zu Frontier Communications Parent Inc (FYBR)FYBRFrontier Communications Parent Inc

Verizon Completes Acquisition of Frontier Communications, Expanding to 30 Million Fiber Passings

Verizon (VZ) and Frontier Communications (FYBR) have received all regulatory approvals and expect to close the acquisition on January 20. The pending transaction will bring Frontier's fiber internet together with Verizon's 5G mobile network. Upon closing, Verizon will have an expanded reach of almost 30 million fiber passings across 31 states and Washington, D.C. This acquisition is expected to accelerate the company's national fiber strategy at scale. Following the closing of the transaction, the common stock of Frontier will be delisted from Nasdaq and deregistered. The last day of trading for the common stock of Frontier is expected to be January 16.

Frontier Communications announces Q3 earnings per share of 30 cents, below consensus estimate of 32 cents.

Reports Q3 revenue $1.55B, consensus $1.54B. "The team absolutely crushed it - once again delivering our best quarter ever," said Nick Jeffery, President and Chief Executive Officer of Frontier. "We achieved outstanding results across our operational and financial metrics, delivered double-digit EBITDA growth and reached an all-time high in customer growth."

Frontier says not providing guidance given Verizon transaction

As previously announced, on September 4, 2024, Verizon Communications (VZ) and Frontier (FYBR) entered into a definitive agreement for Verizon to acquire Frontier. In light of the pending transaction, Frontier will not be hosting a conference call or providing a financial outlook. The transaction is expected to close by the first quarter of 2026, subject to certain required regulatory approvals, and the satisfaction or waiver of the other conditions to the transaction described in the merger agreement.