Verizon Communications (VZ) Misses Q2 EPS by 2c, Lowers FY Guidance

Verizon Communications (NYSE: VZ) reported Q2 EPS of $1.31, $0.02 worse than the analyst estimate of $1.33. Revenue for the quarter came in at $33.8 billion versus the consensus estimate of $33.71 billion.

GUIDANCE:

Verizon Communications sees FY2022 EPS of $5.10-$5.25, versus the consensus of $5.41.

• Reported wireless service revenue growth of 8.5 to 9.5 percent, an update from prior guidance for reported wireless service revenue growth of 9 to 10 percent.
• Reported service and other revenue growth of minus 1 percent to flat, an update from prior guidance for reported service and other revenue growth to be approximately flat.
• Adjusted EBITDA1 growth of minus 1.5 percent to flat, an update from prior guidance for adjusted EBITDA1 growth of 2 to 3 percent.
• Adjusted EPS1 of $5.10 to $5.25, an update from prior guidance for adjusted EPS1 of $5.40 to $5.55.
• Additionally, Verizon continues to expect the following results for full-year 2022:
• Adjusted effective income tax rate1 in the range of 23 percent to 25 percent.
• Capital spending, excluding C-Band, in the range of $16.5 billion to $17.5 billion. Additional expenditures related to the deployment of the company's C-Band 5G network are expected to be in the range of $5 billion to $6 billion.

For earnings history and earnings-related data on Verizon Communications (VZ) click here.

You May Also Be Interested In

• AeroVironment restates quarterly financials, citing $89M goodwill error
• OneMain (OMF) Reiterated at Market Outperform by Citizens on Updated Estimates
• Bernstein SocGen Group Upgrades X-Fab Silicon Foundries SE (XFAB:FP) to Outperform