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Windstream Reports Preliminary 2Q Results

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Windstream Holdings Inc. of Little Rock, which is working to emerge from bankruptcy in August, reported on Tuesday preliminary second-quarter results that included total revenue of $1.19 billion and operating income of $24.8 million. 

That is down from total revenue of $1.29 billion, but far better than the $422.9 million loss reported for the same quarter of last year.

The company is set to release its full second-quarter financial results at 7:30 a.m. on July 30. Pre-recorded remarks will be available at that time as well, via a webcast at investor.windstream.com

Windstream also reported approximately $4.5 million in COVID-19-related costs, primarily consisting of paying premiums to Kinetic field technicians.

Segment Results

During the quarter, Kinetic service revenue was $502 million, down from $509 million in the same period a year ago. Enterprise service revenue was $577 million, down from $673 million. Wholesale service revenue was $86 million, down from $88 million.

Still, Windstream added more than 22,000 Kinetic broadband subscribers during the second quarter, the most quarterly growth it has seen in a decade.

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