Verizon Communications Inc. - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Verizon Communications Inc. on April 27, 2026. The filing reports the release of financial results and a press release dated April 27, 2026, under Item 2.02 (Results of Operations and Financial Condition). The company is incorporated in Delaware and maintains its principal executive offices in New York, New York.
Key Financial Metrics and Non-GAAP Measures
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. Instead, it defines the methodology for several non-GAAP financial measures included in the attached press release and financial tables:
- Consolidated EBITDA: Calculated by adding back interest, taxes, depreciation, and amortization to net income.
- Consolidated Adjusted EBITDA: Excludes non-operational items (equity in earnings/losses of unconsolidated businesses) and special items (severance, asset rationalization, acquisition/integration charges).
- Net Unsecured Debt: Calculated by subtracting secured debt, a 50% equity credit for junior subordinated notes, and cash equivalents from total debt.
- Adjusted EPS: Excludes special items such as amortization of acquisition-related intangibles, pension charges, acquisition costs, legacy legal matters, and early debt redemption costs.
- Free Cash Flow: Defined as net cash provided by operating activities minus capital expenditures (including capitalized software).
Material Changes and Special Items
The filing highlights specific special items impacting financial results for 2025 and 2026:
- Severance Charges (2025): Related to workforce reduction initiatives.
- Asset and Business Rationalization (2025): Predominantly relates to ceasing use of certain real estate assets and exiting non-strategic business portions as part of transformation initiatives.
- Acquisition and Integration Charges (2025-2026): Transaction and integration expenses associated with the acquisition of Frontier Communications Parent, Inc., which was completed in January 2026.
Guidance, Outlook, and Risks
Management notes that an Adjusted EPS Forecast is provided in the attached materials but explicitly states that a reconciliation for this forecast is not provided because the company cannot predict special items that could arise during 2026 without unreasonable effort. The filing emphasizes that non-GAAP measures should be viewed as complements to, not replacements for, GAAP financial statements. No specific forward-looking revenue or earnings guidance numbers are present in the text of this 8-K.
Investor Verification Checklist
- Verify the specific numerical values for Q1 2026 revenue, Adjusted EBITDA, and Free Cash Flow in the attached press release (Exhibit 99).
- Confirm the total amount of acquisition and integration charges related to the Frontier Communications deal completed in January 2026.
- Review the reconciliation tables to understand the exact impact of severance and asset rationalization charges on 2025 and 2026 results.
- Check the updated Net Unsecured Debt to Consolidated Adjusted EBITDA ratio to assess leverage post-Frontier acquisition.
- Examine the Free Cash Flow forecast to understand management's capital expenditure expectations for the remainder of 2026.