Verizon Communications 8-K

EarningsNew guidanceRestructuringImpairment / charge

Frontier's close expands the fiber footprint; severance and rationalization charges weigh on Q4 earnings.

Filed 2026-01-30 06:30 ET

Summary

Q4 and FY2025 results with FY2026 guidance. FY2025 revenue grew 2.5% and free cash flow rose, while consolidated net income declined 1.9%; Q4 earnings fell amid higher expenses, including severance and rationalization charges. Verizon reported its strongest quarterly postpaid phone net additions since 2019. Frontier closed on 1/20/2026, expanding Verizon’s fiber footprint to over 30 million homes and businesses; Verizon also amended its long-term MVNO agreement with Charter and Comcast.

Key Figures

Metric Q4 2025 Q4 2024 Y/Y
Total operating revenue $36.4B $35.7B 2.0%
Operating income $5.0B $7.4B (32.6)%
Consolidated net income $2.4B $5.1B (52.1)%
Diluted EPS attributable to Verizon $0.55 $1.18 (53.4)%
Adjusted EPS, non-GAAP $1.09 $1.10 (0.9)%
  • FY2025 revenue was $138B vs $135B (up 2.5%); operating income was $29.3B vs $28.7B (up 2.0%). Consolidated net income was $17.6B vs $17.9B (down 1.9%); diluted EPS attributable to Verizon was $4.06 vs $4.14 (down 1.9%), while adjusted EPS was $4.71 vs $4.59.
  • FY2025 operating cash flow was $37.1B vs $36.9B (up 0.6%); free cash flow was $20.1B vs $19.8B (up 1.5%), after $17.0B in capital expenditures. Q4 included $1.7B of severance charges and $583M of asset and business rationalization charges.
  • At year-end, total debt was $158B and unsecured debt was $131B; net unsecured debt was $110B vs $114B a year earlier, and the net unsecured debt / adjusted EBITDA ratio was 2.2x vs 2.3x. Cash and cash equivalents were $19.0B. Q4 postpaid phone net additions were 616,000, up 22.2%; broadband net additions were 372,000.

Guidance

Metric Period Guidance Prior Direction
Retail postpaid phone net additions FY2026 750,000–1.0M — —
Mobility and broadband service revenue growth FY2026 2.0%–3.0%; ≈$93B — —
Wireless service revenue growth FY2026 ≈flat — —
Adjusted EPS, non-GAAP FY2026 $4.90–$4.95; 4.0%–5.0% Y/Y growth — —
Cash flow from operations FY2026 $37.5B–$38.0B — —
Capital expenditures FY2026 $16.0B–$16.5B — —
Fiber build FY2026 At least 2.0M passings — —
Free cash flow, non-GAAP FY2026 At least $21.5B; 6.8% growth forecast — —

Investor Takeaways

  • Track whether postpaid phone additions and service revenue progress toward FY2026 guidance as Verizon pursues volume-based growth.
  • Watch free cash flow and fiber build delivery against the FY2026 outlook.

The summary is written by an AI model reading the filing.

Model 005 · prompt 01d34d48e3

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