Q1 26 EPS
$1.28
BEAT +6.18%
Est. $1.21
Q1 26 Revenue
$34.44B
MISS 1.22%
Est. $34.86B
Did VZ Beat Earnings? Q1 2026 Results
Verizon delivered a strong start to 2026, reporting first-quarter adjusted EPS of $1.28, up 7.6% year-over-year, and revenue of $34.44 billion, as the company's transformation strategy gained traction alongside its landmark acquisition of Frontier Co… Read more Verizon delivered a strong start to 2026, reporting first-quarter adjusted EPS of $1.28, up 7.6% year-over-year, and revenue of $34.44 billion, as the company's transformation strategy gained traction alongside its landmark acquisition of Frontier Communications. The Frontier deal, which closed January 20, proved to be the quarter's most consequential driver, pushing fiber broadband connections up 41.9% year-over-year to roughly 10.8 million and total broadband connections to approximately 16.8 million, reshaping Verizon's competitive positioning in fixed broadband. Consolidated adjusted EBITDA reached $13.39 billion, growing 6.7% year-over-year, even as a January network outage weighed on wireless service revenue growth by 80 basis points. The Business segment also showed meaningful improvement, with operating income climbing 33.1% to $884.00 million. Looking ahead, Verizon raised its full-year adjusted EPS guidance to $4.95 to $4.99, reflecting 5.0% to 6.0% growth, lifted its postpaid phone net addition outlook to the upper half of the 750,000 to 1.0 million range, and reiterated free cash flow guidance of at least $21.50 billion.
Key Takeaways
- • First positive Q1 postpaid phone net additions since 2013, with year-over-year improvement of over 340,000
- • Healthier customer economics including improvements in customer acquisition and churn
- • Disciplined approach to promotional spending reducing upgrade activity
- • Operational efficiency driving SG&A expense reduction of 3.1% year-over-year
- • Frontier acquisition expanding fiber broadband footprint significantly
- • Seven consecutive quarters of core prepaid net addition growth
- • Business segment EBITDA margin expansion to 26.5% from 23.1%
VZ Forward Guidance & Outlook
Verizon raised its 2026 adjusted EPS guidance to $4.95–$4.99, representing year-over-year growth of 5.0%–6.0%. Total retail postpaid phone net additions are now expected in the upper half of the 750,000–1.0 million range, approximately 2–3 times the 2025 result. The company continues to expect total mobility and broadband service revenue growth of 2.0%–3.0% (approximately $93 billion), with wireless service revenue growth approximately flat as it transitions to sustainable volume-based growth. Cash flow from operations is expected at $37.5–$38.0 billion, capital expenditures at $16.0–$16.5 billion, and free cash flow of $21.5 billion or more, growing approximately 7% or more from 2025. Verizon expects to repay substantially all of Frontier's debt by year-end and remains on track for at least $3.0 billion in full-year share repurchases.
VZ YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
VZ Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our first-quarter 2026 results show that our turnaround is not only progressing, it is gaining momentum. We are beginning to reclaim our market leadership by putting the customer at the center of everything we do, reducing friction to increase loyalty and create genuine value. This disciplined approach is already delivering healthier economics, lower churn, and the first positive first-quarter postpaid phone net adds we've seen in over a decade. Given our strong performance and momentum, we are raising our 2026 Adjusted EPS guidance to year-over-year growth of 5.0 to 6.0 percent and we now expect our total retail postpaid phone net additions to be in the upper half of our 750,000 to one million range.”
— Dan Schulman, Q1 2026 Earnings Press Release
VZ Earnings Trends
VZ vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
VZ EPS Trend
Earnings per share: estimate vs actual
VZ Revenue Trend
Quarterly revenue: estimate vs actual
VZ Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.21 | $1.28 | +6.18% | $34.44B | -1.22% |
| Q4 25 BEAT FY | $1.06 | $1.09 | +3.28% | $36.38B | +0.51% |
| FY Full Year | — | $4.71 | — | $138.19B | — |
| Q3 25 BEAT | $1.19 | $1.21 | +1.54% | $33.82B | -1.31% |
| Q2 25 BEAT | $1.20 | $1.22 | +2.05% | $34.50B | +2.84% |
| Q1 25 BEAT | $1.15 | $1.19 | +3.64% | $33.49B | +0.61% |
| Q4 24 BEAT FY | $1.10 | $1.10 | +0.32% | $35.68B | +0.95% |
| FY Full Year | — | $4.59 | — | $134.79B | — |