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Verizon Communications Inc. is a leading global provider of communications, technology, information, and entertainment products and services, primarily operating through two segments: Verizon Consumer Group and Verizon Business Group. The company offers a range of wireless and wireline communications services and products, including broadband, data, video, and IoT services, leveraging its high-performing networks to drive growth . Verizon focuses on enhancing and monetizing its networks, platforms, and solutions to retain and grow its customer base while improving financial performance .
- Verizon Consumer Group - Offers wireless and wireline communications services and products, including fixed wireless access (FWA) broadband through its 5G and 4G LTE networks, and wireline services via its 100% fiber-optic network, Verizon Fios, and a traditional copper-based network.
- Verizon Business Group - Provides wireless and wireline communications services and products, such as FWA broadband, data, video and conferencing services, corporate networking solutions, security and managed network services, and Internet of Things (IoT) services, catering to businesses, government customers, and carriers across the U.S. and globally.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Hans Vestberg ExecutiveBoard | Chairman and Chief Executive Officer | Board Member of BlackRock, Inc.; Member of the Board of Directors of the United Nations Foundation. | Hans Vestberg has been CEO since 2018 and Chairman since 2019. He has driven Verizon's leadership in 5G deployment and strategic planning. | |
Anthony Skiadas Executive | Executive Vice President and Chief Financial Officer | None. | Anthony Skiadas became CFO in 2023. Specific achievements or external roles are not detailed in the documents. | |
Joseph Russo Executive | Executive Vice President and President of Global Networks and Technology | None. | Joseph Russo has been with Verizon for nearly 29 years. He oversees network operations and has led broadband growth strategies, including fixed wireless and fiber expansion. | |
Kyle Malady Executive | Executive Vice President and Group CEO of Verizon Business | None. | Kyle Malady has been with Verizon for decades and became Group CEO of Verizon Business in March 2023. He has led network expansion and strategic restructuring efforts. | |
Mary-Lee Stillwell Executive | Senior Vice President and Controller | None. | Mary-Lee Stillwell joined Verizon in August 2020 and became SVP and Controller in May 2023. She oversees accounting and external reporting. | |
Samantha Hammock Executive | Executive Vice President and Chief Human Resources Officer | None. | Samantha Hammock joined Verizon in December 2020 and became CHRO in December 2021. She oversees HR functions and previously held leadership roles at American Express. | |
Sowmyanarayan Sampath Executive | Executive Vice President and Group CEO of Verizon Consumer Group | None. | Sowmyanarayan Sampath joined Verizon in 2020 and became Group CEO of Verizon Consumer Group in March 2023. He has driven fiber and broadband growth and introduced flexible plans like "myPlan". | |
Vandana Venkatesh Executive | Executive Vice President - Public Policy and Chief Legal Officer | None. | Vandana Venkatesh became Chief Legal Officer in 2022. She oversees legal, regulatory, and public policy matters for Verizon. | |
Caroline A. Litchfield Board | Director | Executive Vice President and Chief Financial Officer of Merck & Co., Inc.. | Caroline A. Litchfield joined Verizon's Board of Directors in October 2024. She is also the CFO of Merck & Co., Inc.. | |
Clarence Otis, Jr. Board | Lead Director | Director at The Travelers Companies, Inc.; Director at VF Corporation; Trustee/Director of MFS Mutual Funds Complex. | Clarence Otis, Jr. has been an Independent Director at Verizon since 2006 and currently serves as Lead Director. He has extensive experience in governance and financial oversight. |
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Given that your current pace of fiber expansion is slower than some competitors and considering the aggressive targets for fiber passings industry-wide, how do you justify not accelerating your build-out to capture this market opportunity before it's saturated?
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With your leverage target updated to 2.0 to 2.25x net unsecured debt to adjusted EBITDA, and current leverage at 2.50x, how confident are you that you can achieve this target while also meeting your capital expenditure plans, dividend commitments, and potential share buybacks?
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Your competitors are using alternative investment models like joint ventures for fiber deployment to optimize capital efficiency; why has Verizon not pursued such partnerships, and how do you plan to remain competitive in fiber without adopting these strategies?
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Given the significant capital investments in both expanding your 5G ultra-wideband network and in fiber deployments, how are you ensuring adequate returns on these investments, especially when considering potential market saturation and increased competition?
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With the anticipated increases in cash taxes, capital expenditures, and potential working capital needs due to factors like the iPhone cycle, how will these pressures impact your free cash flow and capital allocation priorities moving forward?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
TracFone Wireless, Inc. | 2021 | Verizon’s acquisition was completed on November 23, 2021, with a total purchase price of $3.125 billion in cash and $3.125 billion in common stock, plus up to $650 million in future performance-based cash, and involved issuing between 47,124,445 and 57,596,544 shares. This strategic move was aimed at strengthening Verizon’s position in the prepaid and value mobile services market and included a Registration Rights Agreement with América Móvil. |
Recent press releases and 8-K filings for VZ.
- Verizon achieved Adjusted EBITDA of $12.6B (up 4.0% YoY) and free cash flow of $3.6B (up 34.3% YoY), showcasing strong financial discipline .
- Reported wireless service revenue of $20.8B (up 2.7% YoY) and total revenue of $33.5B (up 1.5% YoY), reflecting robust market performance .
- Delivered diluted EPS of $1.15 (up from $1.09) and consolidated net income of $5.0B, underscoring solid profitability .
- Launched a 3-year price lock and value guarantee, driving strong consumer net adds including 339,000 broadband net adds and a turnaround in prepaid performance .
- Advanced strategic growth with broadband expansion via fiber and fixed wireless access, and the pending acquisition of Frontier to boost its fiber footprint .
- Improved operational efficiency with enhanced net add performance, lower postpaid churn, and a $11B reduction in net unsecured debt (net debt-to-EBITDA ratio of 2.3x) .
- Q1 Mobile Performance: Verizon reported challenges in Q1 due to aggressive competitor promotions which led to elevated churn, while internal price increases generated incremental revenue of more than $1 billion.
- Broadband Expansion Focus: The company is advancing its Verizon Home Internet strategy with both fiber and fixed wireless access, leveraging the Frontier acquisition to boost market share and aiming for significant fiber penetration.
- Transformative myPlan Initiative: More than half of Verizon’s customer base is now on myPlan, with the company targeting to exceed 14 million perks sold by year-end as a key element to drive retention and revenue growth.
- Consumer segment operating revenues for the quarter reached significant levels with details on service, wireless equipment, and other revenue components—totaling $102,904 million for the year ended 12/31/24.
- The document provides key operating statistics for the Consumer division, including wireless retail postpaid phone connections, net additions (with a 12/31/24 net addition of 82 (in 000s)), churn rates around 0.83%, and ARPA values nearing $145.
- Detailed Business segment metrics are also presented, including wireless service revenues and operating statistics, with aggregated wireless results indicating combined total wireless revenues of $108,888 million for the full year.
- Net add growth and churn reduction are the primary priorities for 2025, with the company aiming to grow phone net adds year-over-year and guide wireless service revenue to increase between 2% and 2.8%, while investing in personalized customer treatment to lower churn.
- Price-up initiatives have already generated over $1 billion in wireless service revenue, supporting an accretive ARPA performance through increased premium plan adoption and nonconnectivity services.
- The prepaid business turnaround is highlighted by the TracFone acquisition, with rebranding efforts and rapid retail store expansion (from 700 to an expected 2,000 stores) driving renewed revenue growth expectations in 2025.
- Adjustments in device financing terms from 24 to 36 months have led to extended device usage (over 41 months on average), influencing upgrade cycles and a shift to mid-single-digit upgrade rates year-over-year.
- Verizon Communications Inc. filed an 8-K report on March 11, 2025, detailing significant operational updates.
- At an investor event, the company noted that its Consumer Group expects 3-5 basis points of increased churn and flat to slightly down gross postpaid phone additions in Q1 2025, while remaining confident in achieving its full year financial guidance.