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Why Sprint Raised Its Fiscal 2018 Outlook

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Dec. 4 2020, Updated 10:53 a.m. ET

Sprint’s fiscal 2018 outlook

Last month, Sprint (S) reported strong second-quarter fiscal 2018 (ended in September) financial results, beating its earnings and sales expectations. Sprint’s net sales grew ~6.4% YoY (year-over-year) to $8.4 billion, beating analysts’ expectation of $8.0 billion, and it reported EPS of $0.05, exceeding analysts’ estimate of -$0.01.

Following the strong results, Sprint raised its fiscal 2018 (ending March 2019) adjusted EBITDA guidance to $12.4 billion–$12.7 billion from $12.0 billion–$12.5 billion. Excluding the effects of its new revenue recognition accounting standards, Sprint expects adjusted EBITDA of $11.7 billion–$12.0 billion.

In fiscal 2018, Sprint expects cash capital expenditure (excluding leased devices) of $5.0 billion–$5.5 billion as it ramps up its densification plan. The company expects adjusted free cash flow between -$1 billion and -$500 million.

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Peer comparison

In the quarter ended September 30, AT&T’s (T) total revenue grew ~15.3% YoY to $45.7 billion, while Verizon’s (VZ) total revenue rose ~2.8% YoY to $32.6 billion. T-Mobile’s (TMUS) total revenue rose ~8.2% YoY to $10.8 billion.

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