Time Warner (TWX) Tops Q4 EPS by 5c; Approves $5B Common Stock Buyback Plan

(Updated - February 10, 2016 7:04 AM EST)

Time Warner (NYSE: TWX) reported Q4 EPS of $1.06, $0.05 better than the analyst estimate of $1.01. Revenue for the quarter came in at $7.08 billion versus the consensus estimate of $7.53 billion.

Adjusted EPS included the unfavorable impact of foreign exchange rates of $0.12 in the current year quarter. Diluted Income per Common Share from Continuing Operations was $1.06 compared to $0.84 in the prior year quarter.

Stock Buyback Update:

From January 1, 2015 through February 5, 2016, the Company repurchased approximately 52 million shares of common stock for approximately $4.1 billion. These amounts reflect the purchase of approximately 11 million shares of common stock for approximately $787 million since the amounts reported in the Company’s third quarter earnings release on November 4, 2015.

In January 2016, the Company’s Board of Directors authorized a total of $5 billion in share repurchases beginning January 1, 2016, including the amount remaining under the prior authorization.

Guidance:

Time Warner provided its 2016 full-year business outlook. The Company expects its 2016 full-year Adjusted Diluted Income per Common Share from Continuing Operations (“Adjusted EPS”) to be in the range of $5.30 to $5.40.

*** The Street sees FY16 EPS of $5.26.

The outlook above does not include the impact of any future merger or unplanned restructuring and severance charges, the impact from future sales and acquisitions of operating assets or the impact of taxes on the above items that may occur from time to time due to management decisions and changing business circumstances. The Company is currently unable to forecast precisely the timing and/or magnitude of any such events and resulting impacts.

For earnings history and earnings-related data on Time Warner (TWX) click here.

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