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
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
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