CenturyLink (CTL) Tops Q1 EPS by 3c; Guides Q2 Relativity In-Line

CenturyLink (NYSE: CTL) reported Q1 EPS of $0.71, $0.03 better than the analyst estimate of $0.68. Revenue for the quarter came in at $4.4 billion versus the consensus estimate of $4.43 billion.

"CenturyLink achieved another solid quarter, with core revenues, operating cash flow and adjusted diluted earnings per share in-line with our previous guidance," said Glen F. Post III, chief executive officer and president. "Additionally, since the first of the year, we have completed two debt issuances totaling more than $1.2 billion, which strengthens our ability to invest in our business while returning cash to shareholders.

"We remain on track with our data centers and colocation business strategic alternatives process and are pleased with the level of interest and progress to date. We continue to focus on leveraging our strategic asset portfolio and financial strength to execute on our operational initiatives and better serve our customers," Post concluded.

First Quarter 2016 Highlights

• Achieved core revenues of approximately $4.0 billion.
• Grew revenue from high-bandwidth data services provided to Business customers, including MPLS(4) and Ethernet, by more than 7% year-over-year and revenue from Consumer strategic(5) services by approximately 5% year-over-year.
• Generated free cash flow of $824 million, excluding special items.
• Added more than 16,900 CenturyLink® PrismTM TV customers during first quarter 2016, ending the period with approximately 302,000 customers.
• Ended the quarter with approximately 6.1 million high-speed Internet customers, an increase of approximately 7,800 customers in first quarter 2016.
• Announced placement of approximately $1.2 billion of debt to refinance substantially all 2016 debt maturities.

GUIDANCE:

CenturyLink sees Q2 2016 EPS of $0.57-$0.62, versus the consensus of $0.63. CenturyLink sees Q2 2016 revenue of $4.38-4.43 billion, versus the consensus of $4.41 billion.

For earnings history and earnings-related data on CenturyLink (CTL) click here.

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