Key points from Sprint’s outlook
Sprint’s (S) strong fiscal fourth-quarter[1. ended March 2018] financial results demonstrated that its turnaround is on track and the mobile operator is, indeed, holding its own in an intensely competitive wireless market. It has begun to recover from years of customer losses and continues to make progress both in expense optimization initiatives and customer retention and acquisitions.
For fiscal 2018,[2. ended March 2019] Sprint expects its adjusted EBITDA to be $11.3 billion–$11.8 billion, mainly due to an ongoing focus on significant cost reductions. However, including the impact of the new revenue recognition accounting standard, its adjusted EBITDA is expected to be $11.6 billion–$12.1 billion. It expects its cash capital expenditure to be $5 billion–$6 billion, excluding leased devices, in fiscal 2018 as the company ramps up its densification plan.
As of the end of this year’s first quarter, Sprint remains the fourth-largest player by customers in the US (SPY) wireless industry. The other large telecommunication companies in the market are AT&T (T), Verizon (VZ), and T-Mobile (TMUS). T-Mobile had the third-largest wireless customer base in the United States at the end of the same quarter.
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