Verizon 10-Q: Q3 EPS $1.25, Nine-Month Profit Slips on $2.42B Special Items
VZ is trading near its 52-week low of $38.68 (14% above the low) on light trading volume (0.2× avg).
Summary
Verizon's Q3 10-Q confirms $1.25 EPS and shows nine-month profit down to $14.1 billion on $2.42 billion of special items, while free cash flow rose to $18.0 billion and buybacks totaled $4.0 billion.
Key Events · Earnings and Guidance · VZ
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Q3 EPS $1.25, Profit Up 5%
Net income attributable to Verizon was $5,198 million, or $1.25 per diluted share, versus $4,950 million and $1.17 in Q3 2025; revenue rose 1.5% to $34,313 million.
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Nine-Month Profit Falls on Special Items
Nine-month net income attributable to Verizon fell to $14,078 million from $14,832 million, with $2,420 million of pre-tax special items including a $746 million loss on the BT joint-venture business held for sale.
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Interest Expense Climbs With Debt
Nine-month interest expense rose to $5,875 million from $4,935 million as average debt outstanding increased to $168,591 million from $145,154 million, largely reflecting the Frontier acquisition.
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Free Cash Flow Rises to $18.0B
Free cash flow for the nine months was $18,010 million versus $15,760 million a year earlier, as operating cash flow rose to $29,936 million and capital expenditures fell to $11,926 million.
Analysis · VZ · Technology
The headline Q3 numbers were already out on October 26, but the full 10-Q fills in what the press release did not. Nine-month net income fell to $14,078 million from $14,832 million a year earlier, dragged by $2,420 million of pre-tax special items: a $746 million loss on the BT joint-venture business being moved to held-for-sale, $453 million of Frontier integration costs, $397 million of severance and $258 million of asset rationalization. Interest expense climbed to $5,875 million from $4,935 million as average debt rose to $168,591 million, largely from the Frontier deal. Against that, free cash flow improved to $18,010 million from $15,760 million on higher operating cash flow and lower capex, and the company bought back 82.4 million shares for $4.0 billion with $21.0 billion left on its $25 billion authorization. Cash fell to $4.5 billion from $19.0 billion at year-end, reflecting the Frontier purchase and debt repayment. The filing also amends CEO Daniel Schulman's contract to run through December 31, 2028 with a 2028 long-term incentive award targeted at no less than $25 million.
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At the time of this filing, VZ was trading at $43.99 on NYSE in the Technology sector, with a market capitalization of approximately $182.7B. The 52-week trading range was $38.68 to $51.68. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.