Verizon Affirms FY18 Outlook - Quick Facts

(RTTNews) - While reporting its first-quarter financial results today, Verizon Communications Inc. (VZ) affirmed its financial outlook for fiscal 2018.

The company continues to forecast consolidated revenues to grow at low-single-digit percentage rates on a reported basis. The company also affirmed its outlook for low single-digit percentage growth in adjusted earnings per share before the impact of tax reform and the revenue recognition standard.

Verizon also maintained its forecast for 2018 capital spending in a range of $17.0 billion to $17.8 billion, including the commercial launch of 5G.

The company noted that the expected savings from tax reform will generate a net $3.5 billion to $4 billion uplift to cash flow from operations in 2018. This is expected to yield a 55 to 65 cent increase in 2018 earnings per share, net of impacts from employee and Verizon Foundation initiatives.