What is the main purpose of this 8-K filing?

The main purpose of this 8-K filing is to publicly disclose Verizon's financial results and provide updated financial information through an attached press release and financial tables dated April 22, 2022. It serves to inform investors about the company's recent performance and outlook.

Why does Verizon use non-GAAP financial measures in its filings?

Verizon uses non-GAAP financial measures, such as Adjusted EBITDA and Adjusted EPS, to provide investors with additional insights into the company's operational performance and financial condition. Management believes these measures enhance comparability with other companies and offer a clearer view of underlying business trends by excluding certain items like severance charges, acquisition-related intangible asset amortization, and losses on spectrum licenses that may not reflect ongoing operational performance.

Where can I find the actual financial results and outlook presented in this filing?

The specific financial results, performance metrics, and forward-looking guidance are detailed in the press release and financial tables dated April 22, 2022, which are attached as an exhibit to this 8-K filing. Investors should refer to these exhibits for the quantitative data.

What are some of the key non-GAAP metrics Verizon focuses on, and why are they important?

Key non-GAAP metrics highlighted include EBITDA, Adjusted EBITDA, Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio, Adjusted Earnings Per Share (EPS), and Free Cash Flow. These are important because they are believed by management to offer a more relevant and comparable assessment of the company's profitability, operational efficiency, and ability to service debt, often by excluding one-time or non-operational items.

VZ 8-K: Earnings & Results

Summary

Verizon Communications Inc. (VZ) filed an 8-K on April 22, 2022, primarily to furnish a press release and financial tables dated April 22, 2022. This filing is crucial for investors as it provides an update on the company's financial performance and outlook, utilizing a mix of GAAP and non-GAAP financial measures to offer a comprehensive view. The report details various non-GAAP metrics, including EBITDA, Adjusted EBITDA, Net Unsecured Debt to Adjusted EBITDA ratio, Adjusted Earnings Per Share (EPS), and Free Cash Flow, which management believes enhance the understanding of operational effectiveness and business trends by minimizing impacts from capital structure, taxes, and special items. While the 8-K itself doesn't present the specific financial figures from the press release, it directs investors to these exhibits for detailed results and forward-looking guidance. The emphasis on non-GAAP measures signals Verizon's intent to provide investors with metrics that allow for better comparability with peers and a clearer view of core operational performance. Investors should pay close attention to the reconciliations provided within the referenced exhibits to understand how these non-GAAP figures are derived from the company's GAAP financial statements.

Key Highlights

1Verizon Communications Inc. filed an 8-K on April 22, 2022, to provide updated financial information through a furnished press release and financial tables.
2The filing emphasizes the use of non-GAAP financial measures to provide investors with a clearer understanding of operational performance and business trends.
3Key non-GAAP metrics discussed include EBITDA, Adjusted EBITDA, Net Unsecured Debt to Adjusted EBITDA Ratio, Adjusted Earnings Per Share (EPS), and Free Cash Flow.
4Management believes these non-GAAP measures help in assessing performance, comparing with competitors, and evaluating operational effectiveness by excluding certain non-operational items and special charges.
5Reconciliations between non-GAAP financial measures and their corresponding GAAP measures are available in the accompanying schedules within the furnished exhibits.
6The company will not be providing reconciliations for forward-looking non-GAAP measures (Consolidated Adjusted EBITDA Growth Forecast, Adjusted EPS Forecast, Adjusted ETR Forecast) due to the unpredictability of future special items.

VERIZON COMMUNICATIONS INC 8-K Report, Financial Results (Apr 22, 2022)

Summary

Key Highlights

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