Capex
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Капзатраты
VZ
FY2026 Q1
Улучшается
Отчётный звонок Verizon Communications Inc.
Вывод Buzzberg
CapEx guided down to $16-$16.5 billion with $4B savings
Verizon management discussed the transformation under new CEO Dan Schulman, emphasizing cost cuts, volume growth, and convergence with the closed Frontier acquisition. Forward guidance for 2026 points to material improvements in postpaid phone net adds, service revenue growth, EPS growth, and free cash flow, alongside a disciplined capital allocation strategy. Targeting 750k-1M postpaid phone net adds in 2026 (2-3x 2025), driven primarily by churn reduction.
Вывод Buzzberg CapEx guided down to $16-$16.5 billion with $4B savings Verizon management discussed the transformation under new CEO Dan Schulman, emphasizing cost cuts, volume growth, and convergence with the closed Frontier acquisition. Forward guidance for 2026 points to material improvements in postpaid phone net adds, service revenue growth, EPS growth, and free cash flow, alongside a disciplined capital allocation strategy. Targeting 750k-1M postpaid phone net adds in 2026 (2-3x 2025), driven primarily by churn reduction. Читать полный анализСвернуть анализ
Verizon management discussed the transformation under new CEO Dan Schulman, emphasizing cost cuts, volume growth, and convergence with the closed Frontier acquisition. Forward guidance for 2026 points to material improvements in postpaid phone net adds, service revenue growth, EPS growth, and free cash flow, alongside a disciplined capital allocation strategy. Targeting 750k-1M postpaid phone net adds in 2026 (2-3x 2025), driven primarily by churn reduction.
- Service revenue (mobility & broadband) guided to 2%-3% growth; adjusted EPS growth of 4%-5%; free cash flow at least $21.5B.
- CapEx reduced to $16-16.5B with a focus on C-band completion (90% done) and fiber builds (2M new premises passed this year).
- Cost-out program of $5B is under way, with workforce reductions and network decommissioning contributing.
Выручка$34.44B-5% к/к
EPS$1.20+10% к/к
Валовая маржа60.3%Факт
Операционная маржа23.93%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
Capex
Fiber build to pass 40-50 million homes medium-term, 2M this year
Demand
Churn reduction of 5bps would deliver more than half of net add target
Показать ещё 3 тезиса
AI
AI Connect signed deals with hyperscalers, more in funnel
Guidance
2026 transitional year for wireless service revenue
Buybacks
Return to leverage target by 2027, at least $3B buybacks in 2026
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $34.44B | -5% к/к |
| EPS | $1.20 | +10% к/к |
| Валовая маржа | 60.3% | Факт |
| Операционная маржа | 23.93% | Факт |
| Свободный денежный поток | $3.783B | -13% к/к |
| Капзатраты | $4.201B | Факт |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| Капзатраты | FY2026 | $16B–$16.5B | $16.25B | Обозначен |
| EPS | FY2026 | 4%–5% | 4.5% | Обозначен |
| Свободный денежный поток | FY2026 | $21.5B | $21.5B | Обозначен |
| ВыручкаMOBILITY_BROADBAND_SERVI | FY2026 | 2%–3% | 2.5% | Обозначен |
| ОбъёмPOSTPAID_PHONE | FY2026 | 750000–1e+06 | 875000 | Обозначен |
| ОбъёмFIBER_PASSINGS | FY2026 | 2e+06 | 2e+06 | Обозначен |
AI, капзатраты и спрос
Оценка менеджмента
Upbeat
Management expressed renewed optimism and confidence, highlighting strong execution, significant cost savings, and a clear growth strategy, with repeated emphasis on momentum and urgency.
Оценка AI от менеджмента
Management discussed AI Connect, its fiber-based product for hyperscalers and other customers, seeing significant demand and signed deals, with more in the funnel, positioning it as a potential offset to legacy wireline declines.
Инвестиции и мощности
CapEx is guided lower to $16-$16.5 billion, with $4 billion in savings, as the C-band build is nearly complete (90% done) and focus shifts to small cells and efficient fiber builds. Investment is targeted at mobility and broadband growth, rationalizing or eliminating non-core areas.
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 0. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.