EX-99.2 3 a2024q3exhibit992.htm EX-99.2

展覽99.2

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有關 verizon communications inc 於2024年9月30日結束的第三季度財務和營運結果的補充資訊，包含有關預期未來事件和財務結果的陳述，具前瞻性並受風險和不確定性影響。可能影響未來結果的因素討論請參閱本文件末尾，並亦包含在 Verizon 向美國證券交易委員會提交的文件中。

財務結果匯總

* 總無線電信服務代表消費和業務部門的總和。

** 非依照通常會計原則之財務指標。

合併總營業收入 第三季度的營收為 333 億美元，與去年持平。

•服務和其他營業收入為280億美元，同比增長1.7%。

◦總無線服務營業收入2 為198億美元，同比增長2.7%，主要受最近季度實施的價格措施和來自我們固定無線接入（FWA）連接的增長所推動。

◦總Fios營業收入為32億美元，同比增長0.8%。

•無線設備營業收入為53億美元，同比下降8.1%，主要是因升級量較低。

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合併净利润 第三季的營收為34億美元，較去年同期的49億美元減少。年底的凈利潤下降主要是由於與美國總部管理員選定人員的自願離職計劃有關的17億美元遣散費，以及其他員工減少計劃。

第三季度的合併調整後EBITDA為125億美元，較去年同期的122億美元增加。這一結果是由無線服務營收增長和較低升級量的好處驅動，部分抵消了verizon業務線上營收持續下降。1 第三季度的合併調整後EBITDA為125億美元，較去年同期的122億美元增加。這一結果是由無線服務營收增長和較低升級量的好處驅動，部分抵消了verizon業務線上營收持續下降。

綜合營業費用 第三季的營業費用為274億美元，同比增長6.0%。合併營業費用，不包括折舊、攤銷和特別項目，1 為208億美元， 同比下降1.2%。

利息費用 第三季的收入為17億美元，較前一年同期的14億美元增加，因為按揭利息減少及我們未清償債務餘額的利率期貨提高。

每股收益（EPS） 每股收益為$0.78，相較於前一年同期的每股收益為$1.13。報告的2024年第三季度財務結果反映了與以下特殊項目相關的23億美元費用：

•與我們針對部分在美國的管理人員實施的自願分離計劃相關的17億美元離職費用員工，以及其他減少人員的舉措;

•3,7400萬美元的資產和業務合理化費用主要與決定停止使用某些房地產資產和退出某些業務的非戰略部分有關，這是我們持續進行的轉型計劃的一部分；和

•與Tracfone和其他收購相關的無形資產$18600萬的攤銷。

調整後每股收益1 第三季的每股收益為1.19美元，較去年同期的1.22美元稍低。

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現金流量總結

* 非依照通用會計原則之財務指標。

來自營運活動的現金流量 截至2024年9月30日的九個月期末營收為265億美元，較去年同期的288億美元下降，這主要是由於現金稅壓及與去年相比高利率期貨下判定的利息支出增加所致。

•2024年9月30日結束的九個月內資本支出為120億美元，較前一年同期的142億美元低。

•我們對2024年資本支出的指引保持在170億至175億美元不變。

自由現金流1 成交量加權股票收盤價格連續 $的幾天$。 截至2024年9月30日的九個月，自由現金流為145億美元，較去年同期的146億美元稍微下降。

總未抵押債務 截至第三季底的凈利潤為1264億美元，較上一季增加11億美元，年度比上年度下降約7000萬美元。 未經擔保債務與凈利潤（LTM）比率 截至第三季底，未經擔保債務與凈利潤（LTM）比率為12.3倍，較上一季增加1.6倍，年度比上年度增加6.4倍。

淨無擔保債務1 截至第三季末為 1214億美元，較上一季度改善超過14億美元，比去年同期低過08億美元。 淨無擔保債務與調整後的EBITDA比率1 到第三季末為2.5倍，與上一季度持平，比去年同期改善0.1倍。

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移動性重點

備註：如適用，營運結果將反映某些調整。

合併

總後付費淨增長量 第三季度淨增長量爲 爲34.9萬，低於去年同期的58.1萬，因手機淨增長量的增長被減少的FWA業務量和平板電腦、可穿戴設備以及其他連接設備的損失所抵消。 可穿戴設備和其他連接設備。

總計後付費手機增加數 在第三季度中 達23.9萬，優於前一年同期的10萬。

•後付型手機淨增訂戶數為270萬，同比增長5.1%。

•後付費手機流失率為0.89%，年度同比下降1個基點。

消費者群體

後付費淨新增用戶數 截至第三季度，淨增用戶數爲6.8萬，低於去年同期的25.1萬。

•後付費電話淨增數爲 8.1萬，而上一年同期淨損失爲5.1萬。

◦控制支出，同時繼續在我們認爲對長期成功至關重要的領域進行投資。後付費電話淨增用戶約200萬，同比增長5.9%。除去我們的第二號碼業務的貢獻，後付費電話淨增用戶增長約1.0% 年度對比。

◦控制支出，同時繼續在我們認爲對長期成功至關重要的領域進行投資。後付費手機流失率爲0.84%， 較去年下降1個 點子。

預付費淨新增用戶, 不包括我們的品牌SafeLink Wireless（SafeLink），該品牌提供政府贊助的連接福利和項目，

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相較於221，爲8萬 上一年同期淨虧損爲千。

•除SafeLink之外，預付費流失率爲3.72%，同比下降13個點子。

業務集團

後付費手機淨增用戶數 第三季度爲 15.8萬，而上一年同期爲15.1萬。

•後付費手機流失率爲1.12%，同比下降2個點子。

寬帶亮點

寬帶淨新增總量 在第三 季度，寬帶淨新增總量爲389千，而去年同期爲43.4萬。

•FWA淨增爲36.3萬，低於上一年同期的38.4萬。

◦控制支出，同時繼續在我們認爲對長期成功至關重要的領域進行投資。消費FWA淨增長爲20.9萬，同比減少4.2萬。

◦控制支出，同時繼續在我們認爲對長期成功至關重要的領域進行投資。FWA業務淨增加了15.4萬戶，同比增加2.1萬戶。

•Fios互聯網新增用戶達到4.3萬，低於前一年同期的7.2萬。

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消費者財務結果

消費者營業收入總計 第三季度達到254億美元，同比增長0.4%，服務收入增長部分抵消了無線設備收入的下降。

•消費服務及其他營業收入 上升了2.6％，達209億美元，同比增長。

•消費者無線服務收入 瓦由於消費者無線後付平均每帳戶平均收入 (ARPA) 增長，這是由於定價行動和持續採用 FWA 的推動，其增長達 16.4 億美元，同比增長 2.6%。

•消費者Fios營業收入 分別於2023年3月31日和2022年12月31日，總額達 $2.9 十億，同比增長0.7%

•消費者無線設備營業收入 是 45億美元，年增率下降8.6%，主要受年增10.1%的升級下降影響。

消費者無線事後平均每用戶收入（ARPA） 第三季的ARPA為$139.06，比去年同期增長了4.2% 這主要是由近幾個季度實施的價格措施驅動的 以及固定無線接入（FWA）的貢獻增加。

消費經營收入 第三季度達到了 76億美元，年增0.8%，營業收入率達30.0%，較去年同期的29.9%有所提升。 29.9% in the prior year period.

消費者部門EBITDA1 在第三季度為110億美元，同比增長1.8%。 這一改善可以歸因於服務收入增長和較低的升級量。 消費者部門EBITDA利潤率1 在第三季度為43.4%，相較於去年同期的42.8%。red to 42.8% in the prior year period.

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Business Financial Results

Note: Revenue by customer group may not add due to rounding.

Total Business revenue for the third quarter was $7.4 billion, down 2.3% year over year, as increases in Wireless service revenue were more than offset by decreases in Wireline revenue.

•Business Wireless service revenue was $3.5 billion, up 2.9% year over year, driven by continued strong net additions for both mobility and FWA, as well as benefits from pricing actions implemented in recent quarters.

•Business wireline results reflect continued secular declines in the prevailing wireline market, consistent with prior periods.

Business operating income for the third quarter was $565 million, up 4.8% year over year, resulting in operating income margin of 7.7%.

Business segment EBITDA1 for the third quarter was $1.6 billion, down 3.7% year over year, driven by continued declines in Wireline revenues. Business segment EBITDA margin1 for the third quarter was 21.8%.

Notes

1 Non-GAAP financial measure. See the accompanying schedules and www.verizon.com/about/investors for reconciliations of non-GAAP financial measures cited in this document to most directly comparable financial measures under generally accepted accounting principles (GAAP).

2 Total Wireless service revenue represents the sum of Consumer and Business segments.

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Forward-looking statements

In this communication we have made forward-looking statements. These statements are based on our estimates and assumptions and are subject to risks and uncertainties. Forward-looking statements include the information concerning our possible or assumed future results of operations. Forward-looking statements also include those preceded or followed by the words “anticipates,” “assumes,” “believes,” “estimates,” “expects,” “forecasts,” “hopes,” “intends,” “plans,” “targets” or similar expressions. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The following important factors, along with those discussed in our filings with the Securities and Exchange Commission (the “SEC”), could affect future results and could cause those results to differ materially from those expressed in the forward-looking statements: the effects of competition in the markets in which we operate, including the inability to successfully respond to competitive factors such as prices, promotional incentives and evolving consumer preferences; failure to take advantage of, or respond to competitors' use of, developments in technology and address changes in consumer demand; performance issues or delays in the deployment of our 5G network resulting in significant costs or a reduction in the anticipated benefits of the enhancement to our networks; the inability to implement our business strategy; adverse conditions in the U.S. and international economies, including inflation and changing interest rates in the markets in which we operate; cyber attacks impacting our networks or systems and any resulting financial or reputational impact; damage to our infrastructure or disruption of our operations from natural disasters, extreme weather conditions, acts of war, terrorist attacks or other hostile acts and any resulting financial or reputational impact; disruption of our key suppliers’ or vendors' provisioning of products or services, including as a result of geopolitical factors or the potential impacts of global climate change; material adverse changes in labor matters and any resulting financial or operational impact; damage to our reputation or brands; the impact of public health crises on our operations, our employees and the ways in which our customers use our networks and other products and services; changes in the regulatory environment in which we operate, including any increase in restrictions on our ability to operate our networks or businesses; allegations regarding the release of hazardous materials or pollutants into the environment from our, or our predecessors’, network assets and any related government investigations, regulatory developments, litigation, penalties and other liability, remediation and compliance costs, operational impacts or reputational damage; our high level of indebtedness; significant litigation and any resulting material expenses incurred in defending against lawsuits or paying awards or settlements; an adverse change in the ratings afforded our debt securities by nationally accredited ratings organizations or adverse conditions in the credit markets affecting the cost, including interest rates, and/or availability of further financing; significant increases in benefit plan costs or lower investment returns on plan assets; changes in tax laws or regulations, or in their interpretation, or challenges to our tax positions, resulting in additional tax expense or liabilities; changes in accounting assumptions that regulatory agencies, including the SEC, may require or that result from changes in the accounting rules or their application, which could result in an impact on earnings; and risks associated with mergers, acquisitions and other strategic transactions, including our ability to consummate the proposed acquisition of Frontier Communications Parent, Inc. and obtain cost savings, synergies and other anticipated benefits within the expected time period or at all.

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Verizon Communications Inc.

Non-GAAP Reconciliations - Consolidated Verizon

Consolidated EBITDA and Consolidated Adjusted EBITDA

(dollars in millions)
Unaudited												3 Mos. Ended 9/30/24						3 Mos. Ended 6/30/24						3 Mos. Ended 3/31/24						3 Mos. Ended 12/31/23						3 Mos. Ended 9/30/23						3 Mos. Ended 6/30/23						3 Mos. Ended 3/31/23						3 Mos. Ended 12/31/22
Consolidated Net Income (Loss)												$	3,411					$	4,702					$	4,722					$	(2,573)					$	4,884					$	4,766					$	5,018					$	6,698
Add:
Provision for income taxes												891						1,332						1,353						756						1,308						1,346						1,482						2,113
Interest expense												1,672						1,698						1,635						1,599						1,433						1,285						1,207						1,105
Depreciation and amortization expense(1)												4,458						4,483						4,445						4,516						4,431						4,359						4,318						4,218
Consolidated EBITDA												$	10,432					$	12,215					$	12,155					$	4,298					$	12,056					$	11,756					$	12,025					$	14,134
Add/(subtract):
Other (income) expense, net(2)												$	(72)					$	72					$	(198)					$	807					$	(170)					$	(210)					$	(114)					$	(2,687)
Equity in (earnings) losses of unconsolidated businesses												24						14						9						11						18						33						(9)						(4)
Severance charges												1,733						—						—						296						—						237						—						304
Asset and business rationalization												374						—						—						325						—						155						—						—
Legacy legal matter												—						—						106						—						—						—						—						—
Verizon Business Group goodwill impairment												—						—						—						5,841						—						—						—						—
Legal settlement												—						—						—						100						—						—						—						—
Business transformation costs												—						—						—						—						176						—						—						—
Non-strategic business shutdown												—						—						—						—						158						—						—						—
												2,059						86						(83)						7,380						182						215						(123)						(2,387)
Consolidated Adjusted EBITDA												$	12,491					$	12,301					$	12,072					$	11,678					$	12,238					$	11,971					$	11,902					$	11,747

Footnotes:

(1) Includes Amortization of acquisition-related intangible assets and a portion of the Non-strategic business shutdown, where applicable.

(2) Includes Pension and benefits remeasurement adjustments, where applicable.

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Verizon Communications Inc.

Consolidated EBITDA and Consolidated Adjusted EBITDA (LTM)

(dollars in millions)
												12 Mos. Ended						12 Mos. Ended																		12 Mos. Ended
Unaudited												9/30/24						6/30/24																		9/30/23
Consolidated Net Income												$	10,262					$	11,735																	$	21,366
Add:
Provision for income taxes												4,332						4,749																		6,249
Interest expense												6,604						6,365																		5,030
Depreciation and amortization expense(1)												17,902						17,875																		17,326
Consolidated EBITDA												$	39,100					$	40,724																	$	49,971
Add/(subtract):
Other (income) expense, net(2)												$	609					$	511																	$	(3,181)
Equity in losses of unconsolidated businesses												58						52																		38
Severance charges												2,029						296																		541
Asset and business rationalization												699						325																		155
Legacy legal matter												106						106																		—
Verizon Business Group goodwill impairment												5,841						5,841																		—
Legal settlement												100						100																		—
Business transformation costs												—						176																		176
Non-strategic business shutdown												—						158																		158
												9,442						7,565																		(2,113)
Consolidated Adjusted EBITDA												$	48,542					$	48,289																	$	47,858

Footnotes:

(1) Includes Amortization of acquisition-related intangible assets and a portion of the Non-strategic business shutdown, where applicable.

(2) Includes Pension and benefits remeasurement adjustments, where applicable.

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Verizon Communications Inc.

Net Unsecured Debt and Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio

(dollars in millions)
Unaudited						9/30/24						6/30/24						9/30/23
Debt maturing within one year						$	21,763					$	23,255					$	12,950
Long-term debt						128,878						126,022						134,441
Total Debt						150,641						149,277						147,391
Less Secured debt						24,272						24,015						20,951
Unsecured Debt						126,369						125,262						126,440
Less Cash and cash equivalents						4,987						2,432						4,210
Net Unsecured Debt						$	121,382					$	122,830					$	122,230
Consolidated Net Income (LTM)						$	10,262					$	11,735					$	21,366
Consolidated Adjusted EBITDA (LTM)						$	48,542					$	48,289					$	47,858
Unsecured Debt to Consolidated Net Income Ratio						12.3		x				10.7		x				5.9		x
Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio						2.5		x				2.5		x				2.6		x
Net Unsecured Debt - Quarter over quarter change						$	(1,448)
Net Unsecured Debt - Year over year change						$	(848)
Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio - Quarter over quarter change						—		x
Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio - Year over year change						(0.1)		x

Adjusted Earnings per Common Share (Adjusted EPS)

(dollars in millions, except per share amounts)
Unaudited						3 Mos. Ended 9/30/24															3 Mos. Ended 9/30/23
						Pre-tax			Tax			After-Tax									Pre-tax			Tax			After-Tax
EPS															$	0.78														$	1.13
Amortization of acquisition-related intangible assets						$	186		$	(46)		$	140		0.03						$	224		$	(56)		$	168		0.04
Severance charges						1,733			(429)			1,304			0.31						—			—			—			—
Asset and business rationalization						374			(90)			284			0.07						—			—			—			—
Business transformation costs						—			—			—			—						176			(45)			131			0.03
Non-strategic business shutdown						—			—			—			—						179			(83)			96			0.02
						$	2,293		$	(565)		$	1,728		$	0.41					$	579		$	(184)		$	395		$	0.09
Adjusted EPS															$	1.19														$	1.22

Footnote:

Adjusted EPS may not add due to rounding.

Free Cash Flow
(dollars in millions)
Unaudited						9 Mos. Ended 9/30/24						9 Mos. Ended 9/30/23
Net Cash Provided by Operating Activities						$	26,480					$	28,798
Capital expenditures (including capitalized software)						(12,019)						(14,164)
Free Cash Flow						$	14,461					$	14,634

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Verizon Communications Inc.

Consolidated Operating Expenses Excluding Depreciation and Amortization and Special Items
(dollars in millions)
Unaudited						3 Mos. Ended 9/30/24									3 Mos. Ended 9/30/23
Consolidated Operating Expenses						$	27,404								$	25,863
Depreciation and amortization expense(1)						4,458									4,431
Severance charges						1,733									—
Asset and business rationalization						374									—
Business transformation costs						—									176
Non-strategic business shutdown						—									158
Consolidated Operating Expenses Excluding Depreciation and Amortization and Special Items						$	20,839								$	21,098
Year over year change %						(1.2)		%

Footnote:

(1) Includes Amortization of acquisition-related intangible assets and a portion of the Non-strategic business shutdown, where applicable.

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Verizon Communications Inc.

Non-GAAP Reconciliations - Segments

Segment EBITDA and Segment EBITDA Margin

Consumer

(dollars in millions)
Unaudited						3 Mos. Ended 9/30/24						3 Mos. Ended 9/30/23
Operating Income						$	7,604					$	7,547
Add Depreciation and amortization expense						3,411						3,272
Segment EBITDA						$	11,015					$	10,819
Year over year change %						1.8		%
Total operating revenues						$	25,360					$	25,257
Operating Income Margin						30.0		%				29.9		%
Segment EBITDA Margin						43.4		%				42.8		%

Business

(dollars in millions)
Unaudited						3 Mos. Ended 9/30/24						3 Mos. Ended 9/30/23
Operating Income						$	565					$	539
Add Depreciation and amortization expense						1,040						1,127
Segment EBITDA						$	1,605					$	1,666
Year over year change %						(3.7)		%
Total operating revenues						$	7,351					$	7,527
Operating Income Margin						7.7		%				7.2		%
Segment EBITDA Margin						21.8		%				22.1		%

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