3Q 2024 Earnings October 22, 2024 "Safe Harbor" Statement In this presentation we have made forward-looking statements. These statements are based on our estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements include the information concerning our possible or assumed future results of operations. Forward-looking statements also include those preceded or followed by the words "anticipates," "assumes," "believes," "estimates," "expects," "forecasts," "hopes," "intends ...

Verizon Communications TodayVZVerizon Communications$41.90 -1.80 (-4.12%) 52-Week Range$31.26▼$45.36Dividend Yield6.47%P/E Ratio15.69Price Target$46.31Add to WatchlistVerizon NYSE: VZ is a total package for investors interested in stress-free total returns. The stock trades at a deep value relative to its historical average and the S&P 500; it pays more than 6% in yield and trades with a beta of nearly 0.5x. The factor that seals the deal is the outlook for capital appreciation, which is central to the inve ...

For the quarter ended September 2024, Verizon Communications (VZ) reported revenue of $33.33 billion, down 0% over the same period last year. EPS came in at $1.19, compared to $1.22 in the year-ago quarter.The reported revenue represents a surprise of -0.60% over the Zacks Consensus Estimate of $33.53 billion. With the consensus EPS estimate being $1.18, the EPS surprise was +0.85%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to de ...

Verizon Communications Inc. (VZ) recorded relatively healthy third-quarter results with adjusted earnings beating the Zacks Consensus Estimate but the top line missing the same. Find the latest EPS estimates and surprises on Zacks Earnings Calendar.The company recorded consolidated postpaid net additions of 349,000 in the quarter along with retail postpaid phone net additions of 239,000. Total broadband net additions for the quarter were 389,000, including 363,000 fixed wireless net additions.Net IncomeOn a ...

Key TakeawaysVerizon shares fell Tuesday morning after the company's third-quarter revenue and net income came in below analysts' expectations.Adjusted profits narrowly beat estimates after accounting for over $2 billion in one-time costs.The telecommunications giant also affirmed its full-year outlook. Verizon (VZ) reported third-quarter results below analysts' expectations Tuesday morning, despite continuing to add wireless phone and internet subscribers. The telecommunications giant reported $33.33 billi ...

Key Takeaways: Verizon reaches fixed wireless access subscriber target 15 months ahead of scheduleCustomer demand for broadband solutions accelerates fixed wireless and fiber rolloutFixed wireless subscribers on path to double to 8-9 million by 2028Fiber network expected to expand to 35-40 million passings over time NEW YORK, Oct. 22, 2024 (GLOBE NEWSWIRE) -- Verizon Communications Inc. (NYSE, Nasdaq: VZ) today announced an update to its broadband strategy, with new fixed wireless subscriber goals, househol ...

Verizon Communications (VZ) came out with quarterly earnings of $1.19 per share, beating the Zacks Consensus Estimate of $1.18 per share. This compares to earnings of $1.22 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 0.85%. A quarter ago, it was expected that this largest U.S. cellphone carrier would post earnings of $1.14 per share when it actually produced earnings of $1.15, delivering a surprise of 0.88%.Over the last f ...

Wireless Service Revenue - Total wireless service revenue for Q3 2024 was $19.8 billion, a 2.7% increase year over year[1] - Verizon expects total wireless service revenue growth of 2.0% to 3.5% for 2024[14] - Wireless service revenue increased by 2.6% to $16,377 million from $15,965 million[29] - Wireless service revenue rose by 2.9% to $3,466 million from $3,367 million[34] - Wireless service revenue for the total wireless segment grew by 2.7% to $19,843 million from $19,330 million[36] Postpaid and Prepaid Connections - Retail postpaid phone net additions for Q3 2024 were 239,000, with retail postpaid net additions of 349,000[1] - Wireless retail postpaid connections increased by 1.4% to 94,005,000 from 92,704,000[29] - Wireless retail prepaid connections decreased by 5.7% to 20,206,000 from 21,420,000[29] - Wireless retail postpaid connections increased by 3.7% to 30,532,000 from 29,455,000[34] - Retail postpaid phone net additions were 239,000 compared to 100,000 in the previous year[36] Broadband and Fixed Wireless - Total broadband net additions for Q3 2024 were 389,000, marking the ninth consecutive quarter with over 375,000 additions[1] - Fixed wireless net additions for Q3 2024 were 363,000, reaching a base of nearly 4.2 million subscribers[1] - Total broadband connections grew to more than 11.9 million, a nearly 16% increase year over year[1] - Fixed wireless access (FWA) broadband connections surged by 52.2% to 2,498,000 from 1,641,000[29] - Total broadband connections grew by 11.0% to 9,762,000 from 8,792,000[29] - FWA broadband connections surged by 63.6% to 1,698,000 from 1,038,000[34] - Total broadband connections grew by 43.9% to 2,157,000 from 1,499,000[34] Financial Performance - Consolidated net income for Q3 2024 was $3.4 billion, down from $4.9 billion in Q3 2023[3] - Adjusted EBITDA for Q3 2024 was $12.5 billion, up from $12.2 billion in Q3 2023[3] - Earnings per share for Q3 2024 were $0.78, compared to $1.13 in Q3 2023[4] - Total Operating Revenues for Q3 2024 were $33.33 billion, showing a slight decrease of 0.02% compared to Q3 2023[22] - Net Income for Q3 2024 was $3.41 billion, a decrease of 30.2% compared to Q3 2023[22] - Consolidated Net Income for the 3 months ended 9/30/24 was $3,411 million, compared to $4,884 million for the same period in 2023[37] - Consolidated Adjusted EBITDA for the 12 months ended 9/30/24 was $48,542 million, up from $47,789 million for the 12 months ended 12/31/23[38] - Adjusted EPS for the 3 months ended 9/30/24 was $1.19, compared to $1.22 for the same period in 2023[40] - Free Cash Flow for the 9 months ended 9/30/24 was $14,461 million, slightly down from $14,634 million for the same period in 2023[41] - Net income decreased by $1.833 billion to $12.835 billion for the 9 months ended 9/30/24 compared to the same period in 2023[26] - Net cash provided by operating activities decreased by $2.318 billion to $26.480 billion for the 9 months ended 9/30/24[26] Expenses and Debt - Selling, General and Administrative Expenses for Q3 2024 increased by 21.4% to $9.71 billion compared to Q3 2023[22] - Total Debt as of 9/30/24 was $150.64 billion, slightly down from $150.67 billion at the end of 2023[24] - Long-term Debt decreased by $8.82 billion to $128.88 billion as of 9/30/24 compared to 12/31/23[23] - Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio was 2.5x as of 9/30/24, down from 2.6x as of 12/31/23[39] - Total Debt as of 9/30/24 was $150,641 million, compared to $150,674 million as of 12/31/23[39] - Severance charges for the 3 months ended 9/30/24 were $1,733 million, compared to $237 million for the same period in 2023[37] Capital Expenditures and Cash Flow - Capital expenditures decreased by $2.145 billion to $12.019 billion for the 9 months ended 9/30/24[26] - Cash and Cash Equivalents increased by $2.92 billion to $4.99 billion as of 9/30/24 compared to 12/31/23[23] - Capital expenditures for the 9 months ended 9/30/24 were $12,019 million, down from $14,164 million for the same period in 2023[41] Consumer Segment - Consumer segment operating revenues increased by 0.4% to $25.360 billion for the 3 months ended 9/30/24[27] - Consumer segment wireless equipment revenues decreased by 8.6% to $4.478 billion for the 3 months ended 9/30/24[27] - Consumer segment operating income increased by 0.8% to $7.604 billion for the 3 months ended 9/30/24[27] - Consumer segment operating income margin remained stable at 30.0% for the 3 months ended 9/30/24[27] - Consumer segment EBITDA increased by 1.8% to $11.015 billion for the 3 months ended 9/30/24[27] - Consumer segment EBITDA margin increased to 43.4% for the 3 months ended 9/30/24[27] - Consumer Segment EBITDA for the 9 months ended 9/30/24 was $32,694 million, up 3.1% year-over-year[42] - Consumer Segment EBITDA Margin for the 9 months ended 9/30/24 was 43.4%, up from 42.5% for the same period in 2023[42] Enterprise and Public Sector - Enterprise and Public Sector operating revenues decreased by 6.6% to $3,538 million from $3,787 million[31] - Total operating revenues fell by 2.3% to $7,351 million from $7,527 million[31] - Segment EBITDA decreased by 3.7% to $1,605 million from $1,666 million[31] - Segment EBITDA for the 3 months ended 9/30/24 was $1,605 million, a decrease of 3.7% year over year[43] - Total operating revenues for the 3 months ended 9/30/24 were $7,351 million, down from $7,527 million in 2023[43] - Segment EBITDA Margin for the 3 months ended 9/30/24 was 21.8%, slightly down from 22.1% in 2023[43] - For the 9 months ended 9/30/24, Operating Income was $1,464 million, compared to $1,623 million in 2023[43] - Segment EBITDA for the 9 months ended 9/30/24 was $4,710 million, a decrease of 4.8% year over year[43] - Total operating revenues for the 9 months ended 9/30/24 were $22,027 million, down from $22,504 million in 2023[43] - Segment EBITDA Margin for the 9 months ended 9/30/24 was 21.4%, down from 22.0% in 2023[43] ARPA and ARPU - Wireless retail postpaid ARPA rose by 4.2% to $139.06 from $133.47[30] - Wireless retail prepaid ARPU declined by 3.7% to $30.70 from $31.87[30] - Retail postpaid ARPA increased by 3.8% to $162.05 from $156.13[36] - Retail prepaid ARPU decreased by 3.7% to $30.70 from $31.87[36] Fixed Wireless Revenue - Fixed wireless revenue for Q3 2024 was $562 million, up $215 million year over year[1] - FWA revenue increased by 62.0% to $562 million from $347 million[36] Total Wireless Revenue - Total wireless revenue increased by 0.7% to $26,848 million from $26,650 million[36] Property, Plant, and Equipment - Property, Plant and Equipment, Net decreased by $782 million to $107.53 billion as of 9/30/24 compared to 12/31/23[23] Employees and Dividends - Total Employees decreased by 4,200 to 101,200 as of 9/30/24 compared to 12/31/23[24] - Quarterly Cash Dividends Declared per Common Share increased to $0.6775 from $0.6650[24] Operating Income and Margin - Operating Income for the 3 months ended 9/30/24 was $565 million, compared to $539 million for the same period in 2023[43] - Operating Income Margin for the 3 months ended 9/30/24 improved to 7.7%, up from 7.2% in 2023[43] - Operating Income Margin for the 9 months ended 9/30/24 was 6.6%, down from 7.2% in 2023[43]

Achieves fixed wireless subscriber target 15 months ahead of schedule and double-digit growth in total broadband connections Company remains on track to meet full-year 2024 financial guidance 3Q 2024 Highlights Wireless: More than doubled wireless postpaid phone net additions year over year Total wireless service revenue1 of $19.8 billion, a 2.7 percent increase year over year.Retail postpaid phone net additions of 239,000, and retail postpaid net additions of 349,000.Retail postpaid phone churn of 0.89 pe ...

Verizon Communications Inc. VZ will release earnings results for its third quarter, before the opening bell on Tuesday, Oct. 22,Analysts expect the New York-based company to report quarterly earnings at $1.18 per share. That’s up from $1.11 per share in the year-ago period. Verizon projects to report revenue of $33.43 billion for the recent quarter, compared to $30.48 billion a year earlier, according to data from Benzinga Pro.United States Cellular Corporation USM recently agreed to sell part of its retain ...