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verizon communications inc (VZ) Snapshot

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verizon communications inc (VZ) Details

Verizon Communications Inc. provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. Its Wireless segment offers access to various wireless voice and data services comprising Internet access through smart and basic phones, and notebook computers and tablets; messaging services; and consumer and business focused multimedia applications under Verizon Wireless brand. This segment also provides location-based services; global data services; HomeFusion Broadband, a high-speed Internet service for homes; other connection-related services, such as network access and value added services to support telemetry-type applications; and machine-to-machine services that support devices used in healthcare, manufacturing, utilities, distribution, and consumer products markets, as well as sells smart phones and basic phones, tablets, and other Internet access devices. As of May 15, 2014, it served 103.3 million retail customers. The company’s Wireline segment offers video services over its fiber-optic network; data services comprising high-speed Internet and FiOS broadband data products, as well as local exchange capacity, managed, mobility, and security services; voice services, such as local exchange, regional, long distance, wire maintenance, and voice messaging services, as well as VoIP, and landline and wireless services; and local dial tone and broadband services to local, long distance, and other carriers. This segment also provides networking products and solutions, such as private Internet protocol services, and Ethernet access and ring services; and infrastructure and cloud services. In addition, it offers FiOS Quantum TV service in New York and New Jersey. The company was formerly known as Bell Atlantic Corporation and changed its name to Verizon Communications Inc. in June 2000. Verizon Communications Inc. was founded in 1983 and is headquartered in New York, New York.

177,300 Employees
Last Reported Date: 01/22/15
Founded in 1983

verizon communications inc (VZ) Top Compensated Officers

Chairman, Chief Executive Officer and Chairma...
Total Annual Compensation: $1.5M
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $760.6K
Executive Vice President, Chief Executive Off...
Total Annual Compensation: $880.8K
Executive Vice President and President of Glo...
Total Annual Compensation: $715.4K
Executive Vice President and Strategic Policy...
Total Annual Compensation: $666.2K
Compensation as of Fiscal Year 2013.

verizon communications inc (VZ) Key Developments

Verizon Agrees to $5 Million Settlement in Rural Call Completion Investigation

Verizon has agreed to a $5 million settlement to resolve a Federal Communications Commission inquiry into the company's failure to investigate whether rural customers could receive long distance or wireless calls to landline phones. The inquiry, led by the FCC's Enforcement Bureau, centered on whether, over a period of many months in 2013, Verizon failed to investigate evidence of low call answer rates to 26 different rural areas across the country. Verizon will pay a fine of $2 million and will implement a compliance plan in which it commits to spend an additional $3 million over the next three years to improve call completion to rural areas across the country. In its consent decree with the Enforcement Bureau, Verizon has agreed to: pay a fine of $2 million to the U.S. Treasury; commit an additional $3 million over the next three years to address the problem of rural call completion on a company and industry-wide basis; appoint a Rural Call Completion Ombudsman within Verizon to centralize analysis of rural call completion problems; develop a system to automatically identify customer complaints that may be related to rural call completion issues; limit its use of intermediate providers, i.e., telecommunications providers between the Verizon network and the local rural provider, that are often the source of call completion problems; monitor its call answer rates to individual rural areas and conduct an investigation when rates to an area fall below a set threshold in any month; host industry workshops and sponsor an academic study on methods to detect and resolve rural call completion problems; provide quarterly summaries of its investigations to the FCC and meet periodically with Commission staff to identify lessons learned; and prepare a report to be publicly filed with the Commission at the end of the three-year compliance period. Although the Bureau had significant concerns with Verizon's failure to investigate, it is encouraged by Verizon's commitment of significant resources over the next three years toward addressing rural call completion and encourages participation by other industry players and the academic community in the workshops and other broader efforts that are required under the consent decree. This is the fourth major resolution of a rural call completion investigation and is part of a coordinated effort to address rural call completion problems. The Bureau entered into consent decrees related to rural call completion performance with Matrix Telecom Inc. and Windstream Corporation in 2014 and with Level 3 Communications, LLC in 2013. Rules requiring long distance providers to record, retain, and report to the Commission call answer and completion data are expected to take effect in 2015.

Verizon Communications Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the Year 2015

Verizon Communications Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported operating revenues of USD 33,192 million compared to USD 31,065 million a year ago. Operating loss was USD 2,136 million compared to operating income of USD 12,063 million a year ago. Loss before benefit for the income taxes was USD 3,886 million compared to income before benefit for the income taxes of USD 10,760 million a year ago. Net loss attributable to the company was USD 2,231 million compared to net income attributable to the company of USD 5,067 million a year ago. Diluted loss per share attributable to the company was USD 0.54 compared to diluted net income per share of USD 1.76 a year ago. Adjusted EBITDA was USD 9,773 million against USD 10,234 million a year ago. EBITDA was USD 1,932 million against USD 16,246 million a year ago. Adjusted earnings per share were USD 0.71 against USD 0.66 a year ago. Capital expenditure was USD 4.6 billion. For the full year, the company reported operating revenues of USD 127,079 million compared to USD 120,550 million a year ago. Operating income was USD 19,599 million compared to USD 31,968 million a year ago. Income before benefit for the income taxes was USD 15,270 million compared to USD 29,277 million a year ago. Net income was USD 11,956 million compared to USD 23,547 million a year ago. Net income attributable to the company was USD 9,625 million compared to USD 11,497 million a year ago. Diluted income per share attributable to the company was USD 2.42 compared to USD 4.00 a year ago. Net cash provided by operating activities were USD 30,631 million compared to USD 38,818 million a year ago. Capital expenditures were USD 17,191 million compared to USD 16,604 million a year ago. Adjusted operating revenues were USD 126,823 million against USD 119,951 million a year ago. Net Debt was USD 102,673 million as on December 31, 2014 against USD 40,063 million as on December 31, 2013. Adjusted earnings per share were USD 3.35 against USD 2.84 a year ago. Consolidated adjusted EBITDA was USD 43.3 billion in 2014, an increase of 2.9%. The company provided consolidated earnings guidance for the year 2015. For the year, the company expects consolidated revenue growth of at least 4%, sustained profitability with a consolidated adjusted EBITDA margin at a level consistent with full-year 2014 performance. The company expected strong free cash flow generation with consolidated capital spending of between USD 17.5 billion and USD 18.0 billion. The company expected an increase in total cash income taxes, with an expected effective tax rate for book purposes in the range of 34% to 36%.

Verizon Communications Inc. Announces Board Changes

On January 9, 2015, Robert W. Lane, a member of the Board of Directors of Verizon Communications Inc. indicated that he will not stand for re-election when his term expires at the company's 2015 Annual Meeting of Shareholders on May 7, 2015.


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Valuation VZ Industry Range
Price/Earnings 19.4x
Price/Sales 1.5x
Price/Book 15.9x
Price/Cash Flow 7.5x
TEV/Sales 0.5x

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