Frontier Communications Parent, Inc. (NASDAQ:FYBR) Q2 2023 Earnings Call Transcript August 4, 2023 8:30 AM ET

Company Participants

Spencer Kurn - SVP, IR

Nick Jeffery - President and CEO

Scott Beasley - CFO

Conference Call Participants

Greg Williams - TD Cowen

Phil Cusick - JP Morgan

Brett Feldman - Goldman Sachs

Frank Louthan - Raymond James

Jonathan Chaplin - New Street Research

Peter Supino - Wolfe Research

Nick Del Deo - MoffettNathanson

Simon Flannery - Morgan Stanley

Michael Rollins - Citi

Operator

Good morning. Thank you for attending today's Frontier Communications Second Quarter 2023 Earnings Call. My name is Megan, and I'll be your moderator for today's call. All lines will be muted during the presentation portion of the call with an opportunity for questions-and-answers at the end.

I would now like to pass the conference over to Spencer Kurn, Senior Vice President, Investor Relations at Frontier Communications.

Spencer Kurn

Good morning, and welcome to Frontier Communications second quarter 2023 earnings call. This is Spencer Kurn, Frontier’s Head of Investor Relations. Joining me on the call today are Nick Jeffery, our President and Chief Executive Officer, and Scott Beasley, our Chief Financial Officer. Today's presentation can be followed within the webcast available in the Events and Presentation section of our Investor Relations website.

Before we start, please see our safe harbor disclaimer on Slide 2. This is a reminder that this conference call may include forward-looking statements that involve risks and uncertainties that may cause actual results to differ materially from those expressed today. During the call, we may also refer to certain non-GAAP financial measures, which are defined and reconciled in our earnings presentation, press release, and trending schedule.

With that, I'll turn the call over to our President and Chief Executive Officer, Nick Jeffrey.

Nick Jeffery

Thanks, Spencer, and good morning, everybody. As you saw in our press release, we delivered another quarter of strong operational results. Before we dive into the quarter, let's briefly step back and take a look at our market dynamics.

On Slide 4, you'll see that we operate in an attractive industry, which is underpinned by explosive growth in data usage and an influx of government funding that recognizes the critical need for reliable high-speed broadband connectivity. Fiber as a technology, is best positioned to meet this demand with faster symmetrical speeds and lower latency than either cable or wireless alternatives.

There are four factors that differentiate Frontier from other fiber broadband companies. Firstly, our scale gives us a significant advantage on the speed and cost of our fiber build. Secondly, in 85% of the markets where we operate, we have one or zero competitors who are capable of competing with Frontier in delivering gigabit speeds. Thirdly, our business generates healthy operating cash flow that we carefully reinvest back into our high-return fiber expansion. And fourthly, we have what I believe is the best team in the business, experienced, disciplined, and full of grit. They are the driving force of our results quarter after quarter.