MODESTO, Calif., Oct. 31, 2024 (GLOBE NEWSWIRE) -- Verizon is providing reliable connectivity solutions to the East Side Mosquito Abatement District, supporting their mission to protect the Northern California community against mosquitoes and vector-borne diseases. Verizon’s reliable network boosts connectivity in the District Verizon Mobile Device Management (MDM) updates and manages field devices while its reliable network keeps them connected to one another. Aided by Verizon support personnel, the Distri ...

Verizon (NYSE: VZ ) (NEOE: VZ:CA ) recently reported their Q3 earnings, and Mr. Market didn't seem too happy with the company's report. For me, it was a typical Verizon quarter. But the price dip offered me a buying opportunity that IContributing analyst to the iREIT+Hoya Capital investment group. The Dividend Collectuh is not a registered investment professional nor financial advisor and these articles should not be taken as financial advice. This is for educational purposes only and I encourage everyone t ...

The telecom giant has a vast amount of unused fiber-optic infrastructure. With the AI revolution, it likely won't stay unused for long.You probably don't think of Verizon Communications (VZ -0.23%) as an artificial intelligence (AI) stock. After all, it's a boring old telecommunications giant, far removed from the exciting world of AI research.Well, that might change soon.On last week's earnings call, Verizon CEO Hans Vestberg painted a picture of how generative AI services could make game-changing contribu ...

If you'd like to learn more about how to best position yourself in under valued stocks mispriced by the market to end October, consider joining Out Fox The Street . In no surprise here, Verizon Communications Inc. (NYSE: VZ ) shareholders are getting increasingly frustrated with the performance of the wireless giant. The company recently hiked the quarterly dividend again, yet lots of questions exist in why payouts are rising Mark leads the investing group Out Fox The Street where he shares stock picks and ...

The stock carries an attractive 6.5% yield. Despite seeing solid wireless subscriber growth, shares of Verizon Communications (VZ -1.15%) fell after the company posted yet another overall mixed report. Nonetheless, the stock is still up over 30% over the past year, although up just over 10% year to date. Investors continue to be drawn to the stock for its robust dividend. The stock currently has a forward dividend yield of about 6.5%. Let's take dive into Verizon's third-quarter results to see why the stock ...

The telecom giant appears to be in a strong position to extend its streak of 18 consecutive dividend increases.Many investors didn't like Verizon Communications' (VZ -1.15%) third-quarter update on Tuesday. That's obvious from Verizon stock sinking around 5% after the telecommunications giant reported its Q3 results. But some investors should be pleased with Verizon's latest update. Why? The company just gave good news to income investors who love its ultra-high dividend yield of nearly 6.5%.The numbers tha ...

I am a full-time analyst interested in a wide range of stocks. With my unique insights and knowledge, I hope to provide other investors with a contrasting view of my portfolio, given my particular background.If you have any questions, feel free to reach out to me via a direct message on Seeking Alpha or leave a comment on one of my articles.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the ...

Financial Performance - Verizon's operating revenues for the three months ended September 30, 2024, were $33.33 billion, a slight decrease of 0.02% compared to $33.34 billion in the same period of 2023[174]. - The Consumer segment's operating revenues for the three months ended September 30, 2024, totaled $25.36 billion, representing an increase of 0.4% from $25.26 billion in 2023[163]. - The Business segment's operating revenues for the three months ended September 30, 2024, were $7.35 billion, reflecting a decrease of 2.3% compared to $7.53 billion in 2023[164]. - Total operating revenues for the three months ended September 30, 2024, increased by $103 million, or 0.4%, to $25,360 million compared to $25,257 million in the same period of 2023[211]. - Wireless service revenue for the three months ended September 30, 2024, increased by $414 million, or 2.6%, to $16,377 million compared to $15,963 million in the same period of 2023[211]. - Wireless equipment revenue decreased by $424 million, or 8.6%, to $4,478 million for the three months ended September 30, 2024, compared to $4,902 million in the same period of 2023[211]. - Consolidated Net Income for the three months ended September 30, 2023, was $3,411 million, a decrease from $4,884 million in the same period of 2024, representing a decline of approximately 30.2%[196]. - Consolidated EBITDA for the three months ended September 30, 2023, was $10,432 million, down from $12,056 million in the same period of 2024, reflecting a decrease of about 13.5%[196]. - Consolidated Adjusted EBITDA for the three months ended September 30, 2023, was $12,491 million, slightly up from $12,238 million in the same period of 2024, indicating an increase of approximately 2.1%[196]. Expenses and Costs - Consolidated operating expenses for the three months ended September 30, 2024, were $27.40 billion, an increase of 6.0% from $25.86 billion in 2023[175]. - Selling, general and administrative expenses increased by $1.7 billion during the three months ended September 30, 2024, primarily due to severance charges related to a voluntary separation program[181]. - Cost of services decreased by $247 million in access costs and $176 million in personnel costs during the nine months ended September 30, 2024 compared to the same period in 2023[178]. - Cost of wireless equipment decreased by $594 million and $2.1 billion for the three and nine months ended September 30, 2024, respectively, due to lower volume of wireless devices sold[179]. - Total operating expenses for the three months ended September 30, 2024, increased by $46 million, or 0.3%, to $17,756 million compared to $17,710 million in the same period of 2023[216]. - Cost of services increased by $148 million, or 3.3%, to $4,567 million for the three months ended September 30, 2024, compared to $4,419 million in the same period of 2023[216]. Capital Expenditures and Investments - Capital expenditures for the nine months ended September 30, 2024, amounted to $12.0 billion, with expectations for total capital expenditures in 2024 to be between $17.0 billion and $17.5 billion[167]. - Verizon entered into a prepaid lease agreement with Vertical Bridge for over 6,000 wireless towers, with an upfront payment of approximately $2.8 billion[171]. - The company announced a license purchase agreement to acquire spectrum licenses from United States Cellular Corporation for a total consideration of $1.0 billion, pending regulatory approvals[172]. - The company made payments of $269 million for obligations related to wireless licenses during the nine months ended September 30, 2024[253]. Debt and Cash Flow - Total debt as of September 30, 2024, was $150.6 billion, with unsecured debt at $126.4 billion and secured debt at $24.3 billion[256]. - Cash provided by operating activities for the nine months ended September 30, 2024, was $26,480 million, a decrease of $2,318 million from $28,798 million in the same period of 2023[249]. - Net cash used in financing activities for the nine months ended September 30, 2024, was $11.5 billion, slightly down from $11.6 billion in the same period of 2023[255]. - Cash dividends paid during the nine months ended September 30, 2024, amounted to $8.4 billion, compared to $8.2 billion in 2023[261]. - Free cash flow for the nine months ended September 30, 2024, was $14.461 billion, a decrease from $14.634 billion in the same period of 2023[265]. - Cash and cash equivalents increased to $5.0 billion as of September 30, 2024, up by $2.9 billion from December 31, 2023[263]. Mergers and Acquisitions - Verizon completed the acquisition of TracFone Wireless for approximately $3.5 billion in cash and stock, with an additional contingent consideration of up to $650 million based on performance measures[278]. - Verizon entered into a merger agreement to acquire Frontier Communications for $38.50 per share in cash, subject to shareholder and regulatory approvals[280]. - If the merger agreement is terminated, Frontier may owe Verizon a termination fee of $320 million, while Verizon may owe Frontier $590 million under certain circumstances[280]. - In the nine months ended September 30, 2024 and September 30, 2023, Verizon made contingent consideration payments of $52 million and $182 million, respectively[279]. Regulatory and Compliance - The FCC's decision to regulate broadband services as common carrier services is currently under appeal, affecting future regulatory trends[281]. - Verizon's disclosure controls and procedures were deemed effective as of September 30, 2024, following an evaluation by the CEO and CFO[284]. - The company is implementing a new global ERP system to enhance financial information flow and reporting, expected to be completed in phases over several years[285]. - There were no changes in the company's internal control over financial reporting during the third quarter of 2024 that materially affected its effectiveness[286]. - Verizon is involved in various litigation and regulatory proceedings but does not believe any are material as of the report date[287]. Employee and Severance Charges - A severance charge of $1.7 billion ($1.3 billion after-tax) was recorded during the three and nine months ended September 30, 2024, due to a voluntary separation program affecting approximately 4,800 employees[170]. - The company reported severance charges of $1,733 million for the three months ended September 30, 2023, with no charges reported in the same period of 2024[196]. - The company recorded pre-tax severance charges of $1.7 billion during the three and nine months ended September 30, 2024, related to voluntary separation programs[243].

In 2024, Verizon Communications, Inc. (NYSE: VZ ) has attempted to generate a sustainable recovery after falling from long-term highs in 2020. Looking back, the stock was trading at highs of $61.95 in early December 2020 and the extended downturn thatAnalyst’s Disclosure: I/we have a beneficial long position in the shares of VZ either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ...

The company will be buffeted by some strong, oncoming headwinds, one pundit believes.Telecom giant Verizon Communications (VZ -2.33%) was looking somewhat diminished on the penultimate trading day of the week, at least on the stock exchange. The company's share price took a more-than 2% hit on Thursday "thanks" to the move of one analyst tracking its fortunes. This was contrasted by the S&P 500 index having a slightly upbeat session, ultimately closing 0.2% higher on the day.Recommendation cutWell before th ...