GTT Reports Fourth Quarter and Full Year 2019 Financial Results

GTT Communications has announced its financial results for the year and quarter ended December 31, 2019.

Full year highlights include:

  • Revenue of $1,727.8 million grew 15.9% over 2018.
  • Net loss was $105.9 million, compared to net loss of $243.4 million in 2018. 2019 net loss was primarily the result of several non-recurring costs, including $36.0 million in exit, transaction and integration costs and $31.4 million non-cash losses due to the change in fair value related to our interest rate swaps.
  • Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) of $439.3 million grew 21.0% over 2018.
  • Capital expenditures were $102.2 million (5.9% of revenue) compared to $77.7 million in 2018 (5.2% of revenue).
  • Using constant currency 2019 revenue and Adjusted EBITDA would have been higher than reported by $45.0 million and $15.2 million, respectively, compared to 2018.

Check out the full release.