Uniti Group Inc. (UNIT), a real estate investment trust, Friday reported net income of $40.89 million or $0.16 per share for the first quarter, compared with net loss of $19.45 million or $0.08 per share in the same quarter a year ago, mainly due to lower expenses.
The company posted Funds From Operations or FFO of $84.48 million or $0.29 per share, up from $35.47 million or $0.15 per share last year.
Excluding one-time items, adjusted FFO, however, declined to $94.60 million or $0.32 per share from $114.50 million or $0.39 per share a year ago.
Revenues for the quarter declined to $286.42 million from $289.82 million in the previous year.
Analysts, on average polled by Thomson-Reuters expected the company to report earnings of $0.11 per share on revenue of $287.54 million. Analysts' estimates typically exclude special items.
For the full year, the company expects revenue in the range of $1.154 billion to $1.174 billion. The consensus estimate is for $1.16 billion.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.