Verizon Communications 8-K
PositiveEarningsGuidance raised
New-to-Verizon customers helped deliver the first positive Q1 postpaid phone additions since 2013; management raised EPS and phone-addition outlooks.
Filed 2026-04-27 07:00 ET
- 2.02 Results of Operations
- 9.01 Financial Statements and Exhibits
Summary
Q1 2026 results with raised FY2026 guidance. Verizon reported its first positive first-quarter postpaid phone net additions since 2013 and raised its Adjusted EPS outlook and expected postpaid phone additions. Management attributed the quarter to healthier customer economics and operating efficiency.
Key Figures
| Metric | Q1 2026 | Q1 2025 | Y/Y |
|---|---|---|---|
| Total operating revenue | $34.4B | $33.5B | 2.9% |
| Operating income | $8.24B | $7.98B | 3.3% |
| Consolidated net income | $5.15B | $4.98B | 3.3% |
| Diluted EPS | $1.20 | $1.15 | 4.3% |
| Adjusted EPS, non-GAAP | $1.28 | $1.19 | 7.6% |
| Cash flow from operating activities | $7.98B | $7.78B | 2.6% |
| Free cash flow, non-GAAP | $3.78B | $3.64B | 4.0% |
- Postpaid phone net additions were 55,000, a Y/Y improvement of more than 340,000, driven in part by a higher mix of new-to-Verizon gross additions. Broadband additions were 341,000: 214,000 fixed wireless and 127,000 fiber.
- The January network outage reduced wireless service revenue growth by 80 bp; March mobility and broadband service revenue growth was in the middle of the 2.0%-3.0% range. Verizon said disciplined promotional spending and moderated upgrades affected wireless equipment revenue.
- Share repurchases were $2.5B; shares outstanding declined to 4.176B from 4.217B at 12/31/2025, about 1.0%. Unsecured debt was $142.5B and net unsecured debt was $130.1B at quarter-end; the net unsecured debt-to-adjusted-EBITDA ratio was 2.6x.
Guidance
| Metric | Period | Guidance | Prior | Direction |
|---|---|---|---|---|
| Adjusted EPS, non-GAAP | FY2026 | $4.95-$4.99; 5.0%-6.0% Y/Y growth | — | Raised |
| Total retail postpaid phone net additions | FY2026 | Upper half of 750,000-1,000,000 | 750,000-1,000,000 | Raised |
| Mobility and broadband service revenue | FY2026 | 2.0%-3.0% growth; ≈$93B | — | Reaffirmed |
| Wireless service revenue | FY2026 | ≈flat growth | — | Reaffirmed |
| Cash flow from operating activities | FY2026 | $37.5B-$38B | — | Reaffirmed |
| Capital expenditures | FY2026 | $16B-$16.5B | — | Reaffirmed |
| Free cash flow, non-GAAP | FY2026 | At least $21.5B; 6.8% forecast growth (described as ≈7.0% or more) | — | Reaffirmed |
| Share repurchases | FY2026 | At least $3B | — | Reaffirmed |
Investor Takeaways
- Track postpaid phone additions against the FY2026 upper-half target and service revenue growth against the 2.0%-3.0% outlook.
- Verizon expects to repay substantially all Frontier debt by year-end.
The summary is written by an AI model reading the filing.
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