Verizon Communications Inc (WBO:VZ)

€ 39.76 0.2 (0.51%) Market Cap: 168.83 Bil Enterprise Value: 322.79 Bil PE Ratio: 16.64 PB Ratio: 1.94 GF Score: 66/100

Q2 2024 Verizon Communications Inc Earnings Call Transcript

Jul 22, 2024 / 12:30PM GMT

Release Date Price: €35.95 (-5.84%)

Transcript 10-Q8-K

Key Points

Positve

Wireless service revenue climbed 3.5% year over year.
Adjusted EBITDA rose by 2.8%, showing operational efficiency.
Free cash flow increased by 3% compared to last year.
Consumer postpaid growth adds are up 12% year over year.
Strong quarter for postpaid phone net adds in Verizon Business at 156,000.

Negative

Consumer postpaid phone churn was 0.79%, up slightly from the prior-year period.
Consumer postpaid phone net losses were 8,000 for the second quarter.
Overall prepaid net losses were 624,000, including 410,000 losses related to the ACP shutdown.
Adjusted EPS in the quarter was down 5% compared to the prior-year period.
Higher cash taxes and interest expenses impacted cash flow from operating activities.

Operator

Good morning, and welcome to the Verizon's second-quarter 2024 earnings conference call. (Operator Instructions) Today's conference is being recorded. If you have any objections, you may disconnect at this time.

It is now my pleasure to turn the call over to your host, Mr. Brady Connor, Senior Vice President, Investor Relations.

Brady Connor

Verizon Communications Inc - Senior Vice President, Investor Relations

Thanks, Brad. Good morning, everyone, and welcome to our second-quarter earnings conference call. I'm Brady Connor, and I'm joined by our Chairman and Chief Executive Officer, Hans Vestberg; as well as our Chief Financial Officer, Tony Skiadas.

Before we begin, I'd like to draw your attention to our Safe Harbor statement, which can be found on slide 2 of the presentation. Information in this presentation contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Discussions of factors that may affect future results is contained in Verizon's filings with the

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