Windstream Reports $129M 3Q Loss


Windstream Reports $129M 3Q Loss

Windstream Holdings Inc. of Little Rock on Thursday reported a third-quarter loss of $129.3 million.

On a per-share basis, the publicly traded telecommunications firm lost $3.03 per share. Losses, adjusted for restructuring costs, came to $2.38 per share.

The broadband and communications company posted revenue of $1.27 billion in the period, down from $1.38 billion in the same period a year ago.

Revenue was down in each of the company's businesses. Kinetic service revenue was $506 million, down from $525 million in the same period a year ago. Enterprise service revenue was $650 million, down from $737 million in the same period a year ago. Wholesale service revenue was $86 million, down from $96 million in the same period a year ago.

Still, the company boasted growth in its Kinetic broadband customer base for the sixth consecutive quarter, and said it added about 19,000 new broadband subscribers year-to-date, a 126 percent increase year-over-year. 

Windstream is working its way through Chapter 11 bankruptcy. In a news release, the company said it "remains focused on securing a result that maximizes value for all of the company’s stakeholders." 

Windstream said that as part of the restructuring, it is working through mediation to modify its lease arrangement with Uniti Group Inc. of Little Rock, which provides Windstream access to telecommunications infrastructure and other assets.

"Absent an acceptable negotiated resolution, Windstream is prepared to pursue its litigation claims to conclusion," the company said. "The trial is currently scheduled to begin the first week of March."

(The Associated Press contributed to this report.)