Uniti raises its 2026 sales outlook and projects a larger loss
Uniti’s 2026 sales outlook rose $25 million at the midpoint. A $95 million swing in projected taxes accounts for most of the increase in its expected loss.
Uniti Group (Nasdaq: UNIT) raised the midpoint of its 2026 revenue forecast by $25 million on Monday and increased its expected net loss by $100 million. The fiber and communications company kept its adjusted EBITDA midpoint at $1.475 billion. A change in projected taxes accounts for most of the gap between the steady adjusted profit outlook and the larger expected loss. November 9 earnings release
What changed in the 2026 forecast
| Measure | July | November |
|---|---|---|
| Revenue | 3,655 | 3,680 |
| GAAP net loss | 505 | 605 |
| Adjusted EBITDA | 1,475 | 1,475 |
Uniti now forecasts a full-year net loss of $590 million to $620 million. In July it projected a loss of $480 million to $530 million. The company’s reconciliation tables show the tax line moving from a $90 million benefit to a $5 million expense. That increases the projected loss by $95 million. An extra $20 million of transaction and other costs pushes the loss higher, while lower depreciation and interest expense offset $15 million. July guidance · November reconciliation
That bridge compares rounded forecasts. The release gives no reason for the change in the tax assumption and does not say how it will affect cash taxes. Adjusted EBITDA strips out interest, taxes, depreciation and amortization, along with certain other items. The midpoint can stay steady even as the company forecasts a larger loss.
The cash question sits outside adjusted EBITDA
For the quarter ended September 30, Uniti reported $848.1 million in revenue, a $244.5 million net loss and $289.3 million in adjusted EBITDA. Over the first nine months of 2026, operating activities provided $467.1 million in cash, and the cash-flow statement shows $1.27 billion on its capital expenditures line. The spending and operating cash figures measure something the adjusted earnings forecast leaves out. Quarterly results and cash-flow statement
The larger projected loss raises a question about the tax forecast. The higher sales forecast raises a separate one about how much additional revenue turns into cash as Uniti invests in its network.