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Uniti Uniti Group Inc. Reports Second Quarter 2021 Results August 5 , 2021 8:05 PM EDT Completes Strategic Transaction with Everstream • Revenues of $ 268.2 Million for the Second Quarter • Net Income of $ 0.20 Per Diluted Common Share for the Second Quarter ; Increase of $ 3.26 Per Diluted Common Share from the Prior Year Second Quarter • AFFO Per Diluted Common Share of $ 0.41 for the Second Quarter • Adjusted EBITDA and AFFO Grew 6 % and 10 % in the Second Quarter , Respectively , from the Prior Year Second Quarter Updates 2021 Outlook LITTLE ROCK , Ark . , Aug. 05 , 2021 ( GLOBE NEWSWIRE ) -- Uniti Group Inc. ( " Uniti " or the " Company " ) ( Nasdaq : UNIT ) today announced its results for the second quarter 2021 . “ Uniti delivered another strong quarter of results including consolidated bookings during the quarter of approximately $ 1.0 million in monthly recurring revenue , representing an increase of over 80 % from consolidated bookings in the first quarter of 2021 , and industry leading monthly churn of 0.2 % . Demand for our fiber infrastructure remains very strong and is fueled by the continued virtualization of our society , " commented Kenny Gunderman , President and Chief Executive Officer . Mr. Gunderman continued , " Given the tailwinds we are seeing for more investment needed by our customers to enable 5G networks , fiber to the home , and greater cloud - based connectivity , we expect these strong demand trends will continue for the foreseeable future . " QUARTERLY RESULTS Consolidated revenues for the second quarter of 2021 were $ 268.2 million . Net income and Adjusted EBITDA were $ 49.6 million and $ 215.7 million , respectively , for the same period . Net income attributable to common shares was $ 48.6 million for the period and included a $ 28.1 million gain on the sale of Uniti Fiber's Northeast operations and certain dark fiber contracts relating to the Everstream transaction , and $ 0.4 million of transaction related and other costs . Adjusted Funds From Operations ( " AFFO " ) attributable to common shareholders was $ 103.2 million , or $ 0.41 per diluted common share , an increase of 10 % when compared to the second quarter of 2020 . Uniti Fiber contributed $ 72.1 million of revenues and $ 29.4 million of Adjusted EBITDA for the second quarter of 2021 , achieving Adjusted EBITDA margins of approximately 40.8 % , up from 36.1 % Adjusted EBITDA margins in the second quarter of 2020. Uniti Fiber's net success - based capital expenditures during the quarter were $ 37.4 million . Uniti Leasing contributed revenues of $ 196.1 million and Adjusted EBITDA of $ 192.1 million for the second quarter , representing growth of 6 % and 5 % , respectively , when compared to the second quarter of 2020. During the quarter , Uniti Leasing deployed capital expenditures of $ 50.0 million primarily related to the construction of over 1,500 new route miles of valuable fiber infrastructure . INVESTMENT TRANSACTION On June 1 , 2021 , Uniti announced it had completed its previously mentioned strategic transaction with Everstream Solutions LLC ( " Everstream " ) . As part of the transaction that was initially announced on November 9 , 2020 , Uniti entered into two 20 year IRU agreements with Everstream on Uniti - owned fiber . In addition , Uniti sold to Everstream a portion of Uniti Fiber's Northeast operations and certain dark fiber IRU customer contracts acquired as part of the Windstream settlement . Total cash consideration to Uniti , including upfront IRU payments , was approximately $ 135 million . In addition to the upfront proceeds , Uniti will receive fees of approximately $ 3 million annually from Everstream over the initial 20 year term of the IRU lease agreements , subject to an annual escalator of 2 % . LIQUIDITY At quarter - end , the Company had approximately $ 574 million of unrestricted cash and cash equivalents , and undrawn borrowing availability under its revolving credit agreement . The Company's leverage ratio at quarter - end was 5.65x based on Net Debt to Annualized Adjusted EBITDA . On August 3 , 2021 , the Company's Board of Directors declared a quarterly cash dividend of $ 0.15 per common share , payable on October 1 , 2021 , to stockholders of record on September 17 , 2021 . UPDATED FULL YEAR 2021 OUTLOOK The Company is updating its 2021 outlook primarily for the impact of the gain on sale of operations and income tax expense related to the Everstream transaction , the impact of transaction - related and other costs incurred to date , and revised estimates of interest expense . Our outlook excludes future