Frontier reported adjusted earnings of $53.7 million, or 5 cents a share. Revenue declined to $1.15 billion from $1.19 billion in the same period one year earlier. These results were in line with the consensus estimate of 5 cents a share on revenue of $1.15 billion.
The company also maintained its full-year guidance for capital expenditures and free cash flow for Frontier business operations in a range of $575 million to $625 million and $725 million to $775 million, respectively.
The stock was down -4.77% to $6.49 at 11:03 a.m.
Separately, TheStreet Ratings team rates FRONTIER COMMUNICATIONS CORP as a "hold" with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:
"We rate FRONTIER COMMUNICATIONS CORP (FTR) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its expanding profit margins and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, disappointing return on equity and weak operating cash flow."