Uniti Group (UNIT) Citi’s 2026 Global TMT Conference summary

Progress since merger

• Achieved scale with 250,000 route miles of fiber and over 2 million fiber-to-the-home customers, both growing rapidly.

• Simplified capital structure and improved cost of capital by 600 basis points.

• Realized over $100 million in operational synergies and successfully integrated wholesale businesses to capture hyperscaler and AI opportunities.

• Ramped up fiber build at Kinetic, now constructing 50,000 homes per month.

• Positioned for proactive M&A and ongoing execution over the next 12-24 months.

Key operational milestones and metrics

• Targeting 475,000-525,000 homes built for the year, with capacity to exceed 600,000 annually.

• Penetration at Kinetic is tracking toward a 40% goal, with recent cohorts reaching 35% within a year.

• Achieved record fiber infrastructure bookings of $2.2 million MRR, with a diversified customer mix.

• Focused on reducing churn and maintaining strong bookings as the fiber opportunity grows.

Competitive landscape and pricing dynamics

• Lower ARPU in the first half of the year due to competitive pressures from wireless carriers and cable promos.

• Expecting stabilization in pricing and ARPU in the second half, with upsell opportunities in value-added services and higher-speed tiers.

• Operates mainly in less competitive, tier 2 and 3 markets, with limited direct competition from major wireline carriers.

• Starlink is both a customer and a competitor, but fiber is seen as a superior product in target markets.