Verizon Communications (VZ) Tops Q3 EPS by 3c, Offers Guidance

Verizon Communications (NYSE: VZ) reported Q3 EPS of $1.32, $0.03 better than the analyst estimate of $1.29. Revenue for the quarter came in at $34.2 billion versus the consensus estimate of $33.78 billion.

GUIDANCE:

Verizon Communications sees FY2022 EPS of $5.10-$5.25, versus the consensus of $5.19.

• Reported wireless service revenue growth4 of 8.5 to 9.5 percent.
• Reported service and other revenue growth of minus 1 percent to flat.
• Adjusted EBITDA1 growth of minus 1.5 percent to flat.
• Adjusted EPS1 of $5.10 to $5.25.
• 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.

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