Q3 2024 Verizon Communications Inc Earnings Call- Sell Side Analyst Transcript
Key Points
- Verizon Communications Inc (VZ) reported the highest-ever adjusted EBITDA of $12.5 billion in the third quarter.
- Wireless service revenue grew by 2.7%, indicating strong performance in the wireless segment.
- The company achieved its fixed wireless access target 15 months ahead of schedule, reaching 4 million to 5 million subscribers.
- Verizon Communications Inc (VZ) continues to generate strong cash flow, with $6 billion in the quarter.
- The company is on track with its 2024 guidance, being at or above the midpoint for both wireless service revenue and adjusted EBITDA.
- Verizon Communications Inc (VZ) faces headwinds from promo amortization, impacting financial performance.
- The company anticipates increased cash taxes, which could affect free cash flow.
- There are concerns about the sustainability of fixed wireless access growth as the deployment moves to suburban and rural areas with less density.
- The pending acquisition of Frontier is not expected to be immediately free cash flow positive.
- Verizon Communications Inc (VZ) is facing pressure from some Frontier shareholders to increase the acquisition price.
Good morning. Hello, everybody. Welcome to the Essex House, and welcome to our event this morning. And for everybody on the webcast, thank you for listening in. Got a couple of items that I need to cover up front first. And I'm missing the clicker, is there a clicker? Okay, there we go.
Safe Harbor statement -- so our presentation today contains things about statements that are forward looking and contain risk and uncertainties. Those are covered on our website with the Safe Harbor Statement. A couple of items -- also, we have some non-GAAP disclosures or non-GAAP items in the presentation. The reconciliations of those are provided on the website. Next slide, please.
And one administrative item for today, the camera's going to be focused on the stage during live Q&A. For the folks in the audience, we ask that you announce your name and your firm when called on for Q&A.
With that, we're really excited for the content today, so let me hand it over to Hans and we'll get going. Hans?
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
