Verizon Communications Inc. (NYSE:VZ) closed 2018 with fourth-quarter results highlighted by strong growth and retention at Verizon Wireless, increased cash flow and momentum leading into the 5G era.
A news release out Tuesday morning revealed that, for fourth-quarter 2018, Verizon reported Earnings per Share of 47 cents, compared with $4.56 in fourth-quarter 2017.
On an adjusted basis (non-GAAP), fourth-quarter 2018 EPS, excluding special items, was $1.12, compared with adjusted EPS of 86 cents in fourth-quarter 2017. Verizon’s fourth-quarter 2018 EPS included a nine-cent impact due to the effects of accounting changes for revenue recognition.
Meantime, full year EPS of $3.76, compared with $7.36 in 2017; adjusted EPS (non-GAAP), excluding special items, of $4.71, compared with 2017 adjusted EPS of $3.74.
Full-year 2018 operating cash flow of $34.3 billion, an increase of $10 billion year over year.
Unsecured debt is lower by $5.2 billion and total net debt is lower by $4.7 billion from year-end 2017.
According to CEO Hans Vestberg. "2018 was a remarkable year full of 5G firsts, including being first in the world to commercially deploy 5G with our 5G Home product. As we head into 2019 and the 5G era, we’re beginning a period of transformational change. We are laser focused on delivering customers a best-in-class and game-changing experience on our networks."
Full-year 2018 capital expenditures totaled $16.7 billion. In 2018, Verizon made $9.8 billion in cash dividend payments to shareholders. The company’s unsecured debt decreased by $5.2 billion and its total net debt decreased by $4.7 billion during 2018.
Shares retreated $2.04, or 3.7%, to $53.05
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