Uniti Group (UNIT) Q3 2025 earnings summary

Executive summary

• Completed transformative merger with Windstream, creating a leading national wholesale fiber provider with 240,000 fiber route miles and over 1.1 million customers across 47 states, and positioning for fiber-focused growth in tier 2 and 3 markets.

• Reported Q3 2025 net income of $1.609 billion, including a $1.685 billion nonrecurring gain from the settlement of preexisting relationships as part of the merger.

• Consolidated revenue reached $722.6 million and Adjusted EBITDA was $327.8 million for Q3 2025, with strong fiber business growth and record Kinetic consumer fiber net adds.

• 85% of Kinetic Fiber footprint is now multi-gig capable, up from less than 20% at the start of the year.

• Named "Best North America Connectivity Provider" for 2025 by Capacity Media.

Financial highlights

• Q3 2025 consolidated revenue: $722.6 million; Adjusted EBITDA: $327.8 million (45% margin); net income: $1.609 billion, driven by a $1.685 billion one-time merger gain.

• Fiber revenue grew 13% year-over-year; Kinetic consumer fiber revenue up 26% year-over-year; total Kinetic fiber subscribers grew 17% from prior year.

• Kinetic Consumer Fiber ARPU up 10% YoY to $75.81; fiber penetration at 28.6% in Q3 2025.

• Fiber Infrastructure new bookings MRR reached $1.6 million, highest in over two years.

• Service revenues for Q3 2025 were $695.3 million, up from $287.5 million in Q3 2024.

Outlook and guidance

• Full-year 2025 revenue guidance: $2,215–$2,265 million; net income: $1,440–$1,490 million; Adjusted EBITDA: $1,110–$1,160 million.

• 2025 pro forma revenue expected at $3.74B–$3.79B, with adjusted EBITDA of $1.48B–$1.53B.

• Targeting 1.9M homes passed and 536,000 Kinetic Fiber subscribers by year-end 2025.

• Fiber to become majority of revenue by end of 2026; year-over-year revenue and adjusted EBITDA growth for core fiber businesses expected in 2026, and for the entire company in 2027.

• Accelerated FTTH build plan aims for fiber to represent ~75% of total revenue by 2029.