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    Philip Cusick

    Managing Director and Senior Analyst at JPMorgan

    Philip Cusick is a Managing Director and Senior Analyst at J.P. Morgan Chase & Co., specializing in telecom services, cable, and satellite coverage. His coverage universe includes major companies such as Verizon Communications, Crown Castle, Equinix, Charter, and T-Mobile US, and his research has driven high-performing calls, notably Charter’s 800% return over eight years, highlighted by top rankings in Institutional Investor and The Wall Street Journal analyst surveys. Cusick began his analyst career with roles at Bear Stearns and Macquarie Group before joining J.P. Morgan, and more recently transitioned to become CFO at Tillman FiberCo. He holds an MBA from NYU, a B.S. from the University of Michigan, is a CFA charterholder, and maintains industry-standard securities licenses.

    Philip Cusick's questions to Frontier Communications Parent (FYBR) leadership

    Philip Cusick's questions to Frontier Communications Parent (FYBR) leadership • Q3 2023

    Question

    Asked for clarification on the strategy of accelerating fiber penetration versus pushing ARPU, and whether the expected increase in fiber adds for Q4 and 2024 was on a sequential or year-over-year basis.

    Answer

    Management responded that they are pursuing both penetration and ARPU growth simultaneously, citing strong progress in base market penetration and ARPU growth from pricing strategy adjustments. They clarified that Q4 net adds are expected to be up both sequentially (vs. Q3 '23) and year-over-year (vs. Q4 '22), and that total 2024 net adds will be up versus 2023.

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