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Verizon: Outlook, Fios, Capex, 5G, and More

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Verizon: Outlook, Fios, Capex, 5G, and More PART 1 OF 11

Analyzing Verizon’s Outlook for the Rest of 2017

Verizon’s outlook on consolidated results for 2017

Verizon (VZ) and AT&T (T) are facing intense competition from smaller rivals T-Mobile (TMUS) and Sprint (S), which are using price cuts as an aggressive way to gain subscribers. Verizon’s long-term plan continues to focus on network leadership and growing and maintaining a high-quality customer base. Verizon is also focusing on developing new ecosystems such as Media, Telematics, and IoT (Internet of Things), as well as long-term value creation for shareholders.

Wall Street analysts foresee Verizon’s adjusted EPS (earnings per share) falling ~2.8% YoY (year-over-year) to ~$3.76 in 2017 compared to $3.87 in 2016.

Analyzing Verizon’s Outlook for the Rest of 2017

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Key points from Verizon’s guidance

During Verizon’s recent 3Q17 earnings conference call, management guided 2017 consolidated total revenues to be similar to 2016 on an organic basis. While wireless service revenue growth is expected to improve, it’s not expected to turn positive until 2018.

Additionally, management foresees 2017 adjusted EPS to be similar to 2016, which excludes the impact from one-time items. Capital expenditures for 2017 are expected to be at the lower end of the previously guided range of $16.8 billion–$17.5 billion. The 2017 effective tax rate is expected to be ~34%, excluding the impact of a potential tax reform.

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