Verizon Q3 EPS $1.13 ($1.22 adj), revenue down 2.6%, raises free cash flow guidance above $18B

VERIZON COMMUNICATIONS INC

2023-Q3 EPS reported $3.40 revenue$98,844,000,000

Adjusted Q3 EPS $1.22 (GAAP $1.13) vs $1.32 a year ago; revenue $33.3B (-2.6%).
Net income $4.9B (-2.8%); consolidated adjusted EBITDA $12.2B (+0.2%).
Raises FY free cash flow guidance to >$18B from ~$17B; capex at upper end of $18.25-19.25B.
Total broadband net adds 434k (384k fixed wireless); wireless service revenue up 2.9% to $19.3B.
Consumer operating margin improved to 29.9%; Business operating income fell 22.8% on wireline declines.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

VERIZON COMMUNICATIONS INC reported third quarter of 2023 results: revenue $33.3 billion, net income $4.9 billion, EPS $1.13. Guidance raised.

Period: third quarter of 2023
Revenue: $33.3 billion
Net income: $4.9 billion
EPS: $1.13
Guidance: raised
Result: reported results

Exact text from the filing

in EPS, compared with $1.17 in third-quarter 2022; adjusted EPS 1 , excluding special items, of $1.22, compared with $1.32 in third-quarter 2022. • Total operating revenue of $33.3 billion, a decrease of 2.6 percent from third-quarter 2022. • Year-to-date cash flow from operations of $28.8 billion, an increase from $28.2 billion in 2022. • Free cash flow 1

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Source: SEC EDGAR

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