EX-99.2 3 a2024q3exhibit992.htm EX-99.2

展览99.2

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有关 verizon communications inc 于2024年9月30日结束的第三季度财务和营运结果的补充资讯，包含有关预期未来事件和财务结果的陈述，具前瞻性并受风险和不确定性影响。可能影响未来结果的因素讨论请参阅本文件末尾，并亦包含在 Verizon 向美国证券交易委员会提交的文件中。

财务结果汇总

* 总无线电信服务代表消费和业务部门的总和。

** 非依照通常会计原则之财务指标。

合并总营业收入 第三季度的营收为 333 亿美元，与去年持平。

•服务和其他营业收入为280亿美元，同比增长1.7%。

◦总无线服务营业收入2 为198亿美元，同比增长2.7%，主要受最近季度实施的价格措施和来自我们固定无线接入（FWA）连接的增长所推动。

◦总Fios营业收入为32亿美元，同比增长0.8%。

•无线设备营业收入为53亿美元，同比下降8.1%，主要是因升级量较低。

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合并净利润 第三季的营收为34亿美元，较去年同期的49亿美元减少。年底的净利润下降主要是由于与美国总部管理员选定人员的自愿离职计划有关的17亿美元遣散费，以及其他员工减少计划。

第三季度的合并调整后EBITDA为125亿美元，较去年同期的122亿美元增加。这一结果是由无线服务营收增长和较低升级量的好处驱动，部分抵消了verizon业务线上营收持续下降。1 第三季度的合并调整后EBITDA为125亿美元，较去年同期的122亿美元增加。这一结果是由无线服务营收增长和较低升级量的好处驱动，部分抵消了verizon业务线上营收持续下降。

综合营业费用 第三季的营业费用为274亿美元，同比增长6.0%。合并营业费用，不包括折旧、摊销和特别项目，1 为208亿美元， 同比下降1.2%。

利息费用 第三季的收入为17亿美元，较前一年同期的14亿美元增加，因为按揭利息减少及我们未清偿债务余额的利率期货提高。

每股收益（EPS） 每股收益为$0.78，相较于前一年同期的每股收益为$1.13。报告的2024年第三季度财务结果反映了与以下特殊项目相关的23亿美元费用：

•与我们针对部分在美国的管理人员实施的自愿分离计划相关的17亿美元离职费用员工，以及其他减少人员的举措;

•3,7400万美元的资产和业务合理化费用主要与决定停止使用某些房地产资产和退出某些业务的非战略部分有关，这是我们持续进行的转型计划的一部分；和

•与Tracfone和其他收购相关的无形资产$18600万的摊销。

调整后每股收益1 第三季的每股收益为1.19美元，较去年同期的1.22美元稍低。

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现金流量总结

* 非依照通用会计原则之财务指标。

来自营运活动的现金流量 截至2024年9月30日的九个月期末营收为265亿美元，较去年同期的288亿美元下降，这主要是由于现金税压及与去年相比高利率期货下判定的利息支出增加所致。

•2024年9月30日结束的九个月内资本支出为120亿美元，较前一年同期的142亿美元低。

•我们对2024年资本支出的指引保持在170亿至175亿美元不变。

自由现金流1 成交量加权股票收盘价格连续 $的几天$。 截至2024年9月30日的九个月，自由现金流为145亿美元，较去年同期的146亿美元稍微下降。

总未抵押债务 截至第三季底的净利润为1264亿美元，较上一季增加11亿美元，年度比上年度下降约7000万美元。 未经担保债务与净利润（LTM）比率 截至第三季底，未经担保债务与净利润（LTM）比率为12.3倍，较上一季增加1.6倍，年度比上年度增加6.4倍。

净无担保债务1 截至第三季末为 1214亿美元，较上一季度改善超过14亿美元，比去年同期低过08亿美元。 净无担保债务与调整后的EBITDA比率1 到第三季末为2.5倍，与上一季度持平，比去年同期改善0.1倍。

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移动性重点

备注：如适用，营运结果将反映某些调整。

合并

总后付费净增长量 第三季度净增长量为 为34.9万，低于去年同期的58.1万，因手机净增长量的增长被减少的FWA业务量和平板电脑、可穿戴设备以及其他连接设备的损失所抵消。 可穿戴设备和其他连接设备。

总计后付费手机增加数 在第三季度中 达23.9万，优于前一年同期的10万。

•后付型手机净增订户数为270万，同比增长5.1%。

•后付费手机流失率为0.89%，年度同比下降1个基点。

消费者群体

后付费净新增用户数 截至第三季度，净增用户数为6.8万，低于去年同期的25.1万。

•后付费电话净增数为 8.1万，而上一年同期净损失为5.1万。

◦控制支出，同时继续在我们认为对长期成功至关重要的领域进行投资。后付费电话净增用户约200万，同比增长5.9%。除去我们的第二号码业务的贡献，后付费电话净增用户增长约1.0% 年度对比。

◦控制支出，同时继续在我们认为对长期成功至关重要的领域进行投资。后付费手机流失率为0.84%， 较去年下降1个 基点。

预付费净新增用户, 不包括我们的品牌SafeLink Wireless（SafeLink），该品牌提供政府赞助的连接福利和项目，

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相较于221，为8万 上一年同期净亏损为千。

•除SafeLink之外，预付费流失率为3.72%，同比下降13个基点。

业务集团

后付费手机净增用户数 第三季度为 15.8万，而上一年同期为15.1万。

•后付费手机流失率为1.12%，同比下降2个基点。

宽带亮点

宽带净新增总量 在第三 季度，宽带净新增总量为389千，而去年同期为43.4万。

•FWA净增为36.3万，低于上一年同期的38.4万。

◦控制支出，同时继续在我们认为对长期成功至关重要的领域进行投资。消费FWA净增长为20.9万，同比减少4.2万。

◦控制支出，同时继续在我们认为对长期成功至关重要的领域进行投资。FWA业务净增加了15.4万户，同比增加2.1万户。

•Fios互联网新增用户达到4.3万，低于前一年同期的7.2万。

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消费者财务结果

消费者营业收入总计 第三季度达到254亿美元，同比增长0.4%，服务收入增长部分抵消了无线设备收入的下降。

•消费服务及其他营业收入 上升了2.6％，达209亿美元，同比增长。

•消费者无线服务收入 瓦由于消费者无线后付平均每账户平均收入 (ARPA) 增长，这是由于定价行动和持续采用 FWA 的推动，其增长达 16.4 亿美元，同比增长 2.6%。

•消费者Fios营业收入 分别于2023年3月31日和2022年12月31日，总额达 $2.9 十亿，同比增长0.7%

•消费者无线设备营业收入 是 45亿美元，年增率下降8.6%，主要受年增10.1%的升级下降影响。

消费者无线事后平均每用户收入（ARPA） 第三季的ARPA为$139.06，比去年同期增长了4.2% 这主要是由近几个季度实施的价格措施驱动的 以及固定无线接入（FWA）的贡献增加。

消费经营收入 第三季度达到了 76亿美元，年增0.8%，营业收入率达30.0%，较去年同期的29.9%有所提升。 29.9% in the prior year period.

消费者部门EBITDA1 在第三季度为110亿美元，同比增长1.8%。 这一改善可以归因于服务收入增长和较低的升级量。 消费者部门EBITDA利润率1 在第三季度为43.4%，相较于去年同期的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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