CenturyLink (CTL) Tops Q1 EPS by 3c, Withdraws FY Guidance
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CenturyLink (NYSE: CTL) reported Q1 EPS of $0.37, $0.03 better than the analyst estimate of $0.34. Revenue for the quarter came in at $5.23 billion versus the consensus estimate of $5.46 billion.
2020 Business Outlook
"As we exit the first quarter 2020, we are in a strong financial position as a result of our capital allocation decisions and refinancing activity in 2019," said Neel Dev, CenturyLink's executive vice president and chief financial officer. "Given the uncertainty caused by COVID-19 and timing related to an economic recovery, we are withdrawing our full year 2020 financial outlook for Adjusted EBITDA, Free Cash Flow and Capital Expenditures. With a strong liquidity position, we are supporting and investing in our customers, our employees and our business."
Metric (1), (2) | Revised Outlook | 2020 Outlook (3) |
Adjusted EBITDA | Withdrawn | $9.0 billion to $9.2 billion |
Free Cash Flow | Withdrawn | $3.1 billion to $3.4 billion |
Dividends (4) | Unchanged | $1.1 billion |
GAAP Interest Expense | Unchanged | $1.8 billion |
Net Cash Interest | Unchanged | $1.75 billion to $1.80 billion |
Capital Expenditures | Withdrawn | $3.6 billion to $3.9 billion |
Depreciation and Amortization | Unchanged | $4.7 billion to $4.9 billion |
Share-based Compensation Expenses | Unchanged | $200 million |
Cash Income Taxes | Unchanged | $100 million |
Full Year Effective Income Tax Rate | Unchanged | ~28% |
rnings history and earnings-related data on CenturyLink (CTL) click here.
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