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Frontier Communications reported fourth-quarter and full-year 2024 earnings last week.
The company reported revenue of $1.51 billion for Q4, an increase of 5.6% year-over-year, as growth in fiber-based products was partly offset by declines in copper-based products.
Also for the quarter, Frontier added 241,000 fiber passings to reach 7.8 million total locations passed with fiber and 97,000 fiber broadband customers, resulting in fiber customer growth of 19.2% year-over-year.
For the full year, the company added 1.3 million new fiber passings to reach 7.8 million locations passed with fiber, and 385,000 fiber broadband customers, in 2024.
"2024 was a landmark year for Frontier, marking the culmination of an ambitious turnaround that started when we emerged from bankruptcy in 2021,” said Nick Jeffery, President and CEO of Frontier. “Our goal was to return the company to growth, and in less than four years, we delivered. For the first time in more than 15 years, we achieved full-year organic revenue growth, propelled by 19.2% growth in fiber customers and 13.5% growth in fiber revenues.”
Jeffery continued, “This transformation is a testament to our entire leadership team, our employees’ relentless execution, and the power of a clear strategy and shared purpose. Today, we stand as the nation’s largest pure-play fiber internet provider, bringing critical connectivity to nearly 8 million homes and businesses. I am incredibly proud of what this team has accomplished in Building Gigabit America and creating a fiber network that will have lasting value for this country for years to come."
Pending Acquisition by Verizon
As previously announced, Verizon and Frontier entered into a definitive agreement for Verizon to acquire Frontier.
The transaction is expected to close by the first quarter of 2026, subject to certain required regulatory approvals, and the satisfaction or waiver of the other conditions to the transaction described in the merger agreement.