Uniti Group Inc. (NASDAQ:UNIT) Q2 2022 Earnings Conference Call August 4, 2022 8:30 AM ET

Company Participants

Kenny Gunderman – President and Chief Executive Officer

Paul Bullington – Chief Financial Officer, Treasurer and Senior Vice President

Conference Call Participants

Gregory Williams – Cowen

Michael Rollins – Citi

Frank Louthan – Raymond James

David Barden – Bank of America

Simon Flannery – Morgan Stanley

Operator

Welcome to Uniti Group's Second Quarter 2022 Conference Call. My name is Daniel and I will be your operator for today. A webcast of this call will be available on the company's website, www.uniti.com, beginning today, and will remain available for 14 days. [Operator instructions]

The company would like to remind you that today's remarks include forward-looking statements and actual results could differ materially from those projected in these statements. The factors that could cause actual results to differ are discussed in the company's filings with the SEC. The company's remarks this morning will reference slides posted on its website, and you are encouraged to refer to those materials during the call. Discussions during this call will also include certain financial measures that were not prepared in accordance with generally accepted accounting principles. Reconciliation of those non-GAAP financial measures to the most directly comparable GAAP financial measures can be found in the company's current report on Form 8-K dated today.

I would now like to turn the call over to Uniti Group's Chief Executive Officer, Kenny Gunderman. Please go ahead, Mr. Gunderman.

Kenny Gunderman

Thank you. Good morning everyone and thank you for joining. Starting on Slide 3, the demand for our mission-critical fiber infrastructure continues to accelerate across virtually all of our customer segments. Our results for the second quarter exceeded our expectations and we continued to be enthusiastic about our prospects for the second half of the year. As a result we announced today that we're once again raising our full year outlook.

We received our fifth consecutive quarter of elevated, consolidated new sales bookings, while also realizing our highest level of gross install activity since 2017. As the second largest independent fiber operator in the country with 133,000 route mile network, Uniti is successfully enabling broadband connectivity for our customers from local businesses to large national carriers. We remain uniquely positioned to benefit from the favorable trends within our industry and our strategy also further demonstrates that the shared infrastructure benefits of fiber result in healthy adjusted EBITDA and AFFO growth.