STOCK TITAN

[8-K] Verizon Communications Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

On 21 Jul 2025 Verizon Communications Inc. filed a Current Report on Form 8-K (Item 2.02) to furnish a press release and accompanying financial tables that outline the company’s latest results of operations and financial condition. The filing states that the release (Exhibit 99) presents both GAAP figures and several non-GAAP metrics—Consolidated EBITDA, Consolidated Adjusted EBITDA (and growth forecast), Segment EBITDA/Margins, Adjusted EPS (and forecast), Free Cash Flow (and forecast) and Net Unsecured Debt leverage—each with reconciliations to the corresponding GAAP measures.

Management explains the purpose of these non-GAAP measures and lists 2024 special items (severance, asset rationalization, legacy legal matter) that are excluded from Adjusted EBITDA and EPS. The company notes it cannot reasonably forecast special items for 2025, so reconciliations for forward-looking metrics are not provided. No absolute financial results, guidance figures or capital-markets actions are disclosed within the text of the 8-K itself. Exhibit 104 supplies the Inline XBRL cover-page data, and the report is signed by SVP & Controller Mary-Lee Stillwell.

Il 21 luglio 2025 Verizon Communications Inc. ha presentato un Rapporto Corrente sul Modulo 8-K (Voce 2.02) per fornire un comunicato stampa e tabelle finanziarie correlate che illustrano gli ultimi risultati operativi e la situazione finanziaria dell'azienda. Nel documento si specifica che il comunicato (Allegato 99) include sia dati GAAP sia diverse metriche non GAAP—EBITDA consolidato, EBITDA consolidato rettificato (con previsione di crescita), EBITDA/margini per segmento, EPS rettificato (con previsione), flusso di cassa libero (con previsione) e leva del debito netto non garantito—ciascuna con riconciliazioni rispetto ai corrispondenti dati GAAP.

La direzione spiega lo scopo di queste misure non GAAP e elenca gli elementi straordinari del 2024 (indennità di licenziamento, razionalizzazione degli asset, questioni legali pregresse) esclusi dall'EBITDA rettificato e dall'EPS. L'azienda segnala di non poter prevedere ragionevolmente gli elementi straordinari per il 2025, pertanto non sono fornite riconciliazioni per le metriche previsionali. Nel testo del 8-K non sono divulgati risultati finanziari assoluti, dati previsionali o azioni nei mercati dei capitali. L'Allegato 104 fornisce i dati Inline XBRL della pagina di copertina e il rapporto è firmato dalla SVP e Controller Mary-Lee Stillwell.

El 21 de julio de 2025, Verizon Communications Inc. presentó un Informe Actual en el Formulario 8-K (Artículo 2.02) para proporcionar un comunicado de prensa y tablas financieras que detallan los últimos resultados operativos y la situación financiera de la empresa. El informe indica que el comunicado (Exhibición 99) presenta tanto cifras GAAP como varias métricas no GAAP—EBITDA consolidado, EBITDA ajustado consolidado (y previsión de crecimiento), EBITDA/márgenes por segmento, BPA ajustado (y previsión), flujo de caja libre (y previsión) y apalancamiento de deuda neta no garantizada—cada una con conciliaciones a las medidas GAAP correspondientes.

La dirección explica el propósito de estas medidas no GAAP y enumera los elementos especiales de 2024 (indemnizaciones, racionalización de activos, asuntos legales heredados) que se excluyen del EBITDA ajustado y del BPA. La compañía señala que no puede prever razonablemente los elementos especiales para 2025, por lo que no se proporcionan conciliaciones para las métricas prospectivas. No se revelan resultados financieros absolutos, cifras de orientación ni acciones en los mercados de capitales en el texto del 8-K. La Exhibición 104 proporciona los datos Inline XBRL de la portada, y el informe está firmado por la SVP y Controller Mary-Lee Stillwell.

2025년 7월 21일 Verizon Communications Inc.는 현재 보고서인 Form 8-K(항목 2.02)를 제출하여 회사의 최신 영업 실적 및 재무 상태를 설명하는 보도 자료와 관련 재무 표를 제공했습니다. 제출 문서에 따르면 해당 보도 자료(전시물 99)는 GAAP 수치와 여러 비-GAAP 지표—통합 EBITDA, 조정 통합 EBITDA(성장 전망 포함), 세그먼트 EBITDA/마진, 조정 EPS(전망 포함), 자유 현금 흐름(전망 포함), 순 무담보 부채 레버리지—각각에 대해 해당 GAAP 수치와의 조정 내역을 제시합니다.

경영진은 이러한 비-GAAP 지표의 목적을 설명하고 2024년 특별 항목(퇴직금, 자산 합리화, 과거 법적 문제)을 조정 EBITDA 및 EPS에서 제외한다고 명시합니다. 회사는 2025년 특별 항목을 합리적으로 예측할 수 없으므로 미래 지표에 대한 조정 내역은 제공하지 않습니다. 8-K 본문에는 절대 재무 결과, 지침 수치 또는 자본 시장 조치가 공개되지 않았습니다. 전시물 104는 인라인 XBRL 표지 데이터이며, 보고서는 SVP 겸 컨트롤러 Mary-Lee Stillwell이 서명했습니다.

Le 21 juillet 2025, Verizon Communications Inc. a déposé un rapport actuel sur le formulaire 8-K (point 2.02) afin de fournir un communiqué de presse et des tableaux financiers annexes présentant les derniers résultats opérationnels et la situation financière de la société. Le dépôt précise que le communiqué (Exhibit 99) présente à la fois des chiffres conformes aux normes GAAP et plusieurs indicateurs non-GAAP—EBITDA consolidé, EBITDA ajusté consolidé (avec prévisions de croissance), EBITDA/marges par segment, BPA ajusté (avec prévisions), flux de trésorerie disponible (avec prévisions) et levier de la dette nette non garantie—chacun accompagné de rapprochements avec les mesures GAAP correspondantes.

La direction explique l’objectif de ces mesures non-GAAP et liste les éléments exceptionnels de 2024 (indemnités de départ, rationalisation des actifs, litiges anciens) exclus de l’EBITDA ajusté et du BPA. La société indique qu’elle ne peut pas prévoir raisonnablement les éléments exceptionnels pour 2025, de sorte que les rapprochements pour les indicateurs prospectifs ne sont pas fournis. Aucun résultat financier absolu, chiffre prévisionnel ni action sur les marchés des capitaux n’est divulgué dans le texte du 8-K. L’Exhibit 104 fournit les données Inline XBRL de la page de couverture, et le rapport est signé par la SVP et Contrôleur Mary-Lee Stillwell.

Am 21. Juli 2025 reichte Verizon Communications Inc. einen aktuellen Bericht auf Formular 8-K (Punkt 2.02) ein, um eine Pressemitteilung und begleitende Finanztabellen vorzulegen, die die neuesten Betriebsergebnisse und die finanzielle Lage des Unternehmens darstellen. Die Einreichung gibt an, dass die Mitteilung (Anlage 99) sowohl GAAP-Zahlen als auch verschiedene Non-GAAP-Kennzahlen enthält—konsolidiertes EBITDA, konsolidiertes bereinigtes EBITDA (mit Wachstumsprognose), Segment-EBITDA/-Margen, bereinigtes Ergebnis je Aktie (mit Prognose), freier Cashflow (mit Prognose) und Nettoverschuldungsgrad ohne Sicherheiten—jeweils mit Abstimmungen zu den entsprechenden GAAP-Maßnahmen.

Das Management erläutert den Zweck dieser Non-GAAP-Maßnahmen und listet die Sondereffekte für 2024 auf (Abfindungen, Vermögensbereinigung, Altlasten aus Rechtsstreitigkeiten), die vom bereinigten EBITDA und Ergebnis je Aktie ausgeschlossen sind. Das Unternehmen weist darauf hin, dass eine vernünftige Prognose der Sondereffekte für 2025 nicht möglich ist, weshalb keine Abstimmungen für zukunftsgerichtete Kennzahlen bereitgestellt werden. Im Text des 8-K werden keine absoluten Finanzergebnisse, Prognosezahlen oder Kapitalmarktmaßnahmen veröffentlicht. Anlage 104 liefert die Inline-XBRL-Titelseitendaten, und der Bericht ist von SVP & Controller Mary-Lee Stillwell unterzeichnet.

Positive
  • None.
Negative
  • None.

Insights

TL;DR: Neutral filing—Verizon furnishes earnings release; no numbers, just definitions of non-GAAP metrics.

The 8-K is primarily procedural. Verizon alerts investors that its July 21 press release contains full GAAP and non-GAAP results, explains how key adjustments (severance, asset rationalization, legal matters) affect EBITDA and EPS, and defines leverage ratios used for credit analysis. Because actual revenue, profit, cash-flow or guidance data are not included in the body of the filing, the market impact depends on the separate exhibit. The emphasis on adjusted metrics and leverage disclosures suggests management continues to spotlight cash generation and debt service capacity, but without figures the information content of this filing alone is limited. Overall impact: neutral.

Il 21 luglio 2025 Verizon Communications Inc. ha presentato un Rapporto Corrente sul Modulo 8-K (Voce 2.02) per fornire un comunicato stampa e tabelle finanziarie correlate che illustrano gli ultimi risultati operativi e la situazione finanziaria dell'azienda. Nel documento si specifica che il comunicato (Allegato 99) include sia dati GAAP sia diverse metriche non GAAP—EBITDA consolidato, EBITDA consolidato rettificato (con previsione di crescita), EBITDA/margini per segmento, EPS rettificato (con previsione), flusso di cassa libero (con previsione) e leva del debito netto non garantito—ciascuna con riconciliazioni rispetto ai corrispondenti dati GAAP.

La direzione spiega lo scopo di queste misure non GAAP e elenca gli elementi straordinari del 2024 (indennità di licenziamento, razionalizzazione degli asset, questioni legali pregresse) esclusi dall'EBITDA rettificato e dall'EPS. L'azienda segnala di non poter prevedere ragionevolmente gli elementi straordinari per il 2025, pertanto non sono fornite riconciliazioni per le metriche previsionali. Nel testo del 8-K non sono divulgati risultati finanziari assoluti, dati previsionali o azioni nei mercati dei capitali. L'Allegato 104 fornisce i dati Inline XBRL della pagina di copertina e il rapporto è firmato dalla SVP e Controller Mary-Lee Stillwell.

El 21 de julio de 2025, Verizon Communications Inc. presentó un Informe Actual en el Formulario 8-K (Artículo 2.02) para proporcionar un comunicado de prensa y tablas financieras que detallan los últimos resultados operativos y la situación financiera de la empresa. El informe indica que el comunicado (Exhibición 99) presenta tanto cifras GAAP como varias métricas no GAAP—EBITDA consolidado, EBITDA ajustado consolidado (y previsión de crecimiento), EBITDA/márgenes por segmento, BPA ajustado (y previsión), flujo de caja libre (y previsión) y apalancamiento de deuda neta no garantizada—cada una con conciliaciones a las medidas GAAP correspondientes.

La dirección explica el propósito de estas medidas no GAAP y enumera los elementos especiales de 2024 (indemnizaciones, racionalización de activos, asuntos legales heredados) que se excluyen del EBITDA ajustado y del BPA. La compañía señala que no puede prever razonablemente los elementos especiales para 2025, por lo que no se proporcionan conciliaciones para las métricas prospectivas. No se revelan resultados financieros absolutos, cifras de orientación ni acciones en los mercados de capitales en el texto del 8-K. La Exhibición 104 proporciona los datos Inline XBRL de la portada, y el informe está firmado por la SVP y Controller Mary-Lee Stillwell.

2025년 7월 21일 Verizon Communications Inc.는 현재 보고서인 Form 8-K(항목 2.02)를 제출하여 회사의 최신 영업 실적 및 재무 상태를 설명하는 보도 자료와 관련 재무 표를 제공했습니다. 제출 문서에 따르면 해당 보도 자료(전시물 99)는 GAAP 수치와 여러 비-GAAP 지표—통합 EBITDA, 조정 통합 EBITDA(성장 전망 포함), 세그먼트 EBITDA/마진, 조정 EPS(전망 포함), 자유 현금 흐름(전망 포함), 순 무담보 부채 레버리지—각각에 대해 해당 GAAP 수치와의 조정 내역을 제시합니다.

경영진은 이러한 비-GAAP 지표의 목적을 설명하고 2024년 특별 항목(퇴직금, 자산 합리화, 과거 법적 문제)을 조정 EBITDA 및 EPS에서 제외한다고 명시합니다. 회사는 2025년 특별 항목을 합리적으로 예측할 수 없으므로 미래 지표에 대한 조정 내역은 제공하지 않습니다. 8-K 본문에는 절대 재무 결과, 지침 수치 또는 자본 시장 조치가 공개되지 않았습니다. 전시물 104는 인라인 XBRL 표지 데이터이며, 보고서는 SVP 겸 컨트롤러 Mary-Lee Stillwell이 서명했습니다.

Le 21 juillet 2025, Verizon Communications Inc. a déposé un rapport actuel sur le formulaire 8-K (point 2.02) afin de fournir un communiqué de presse et des tableaux financiers annexes présentant les derniers résultats opérationnels et la situation financière de la société. Le dépôt précise que le communiqué (Exhibit 99) présente à la fois des chiffres conformes aux normes GAAP et plusieurs indicateurs non-GAAP—EBITDA consolidé, EBITDA ajusté consolidé (avec prévisions de croissance), EBITDA/marges par segment, BPA ajusté (avec prévisions), flux de trésorerie disponible (avec prévisions) et levier de la dette nette non garantie—chacun accompagné de rapprochements avec les mesures GAAP correspondantes.

La direction explique l’objectif de ces mesures non-GAAP et liste les éléments exceptionnels de 2024 (indemnités de départ, rationalisation des actifs, litiges anciens) exclus de l’EBITDA ajusté et du BPA. La société indique qu’elle ne peut pas prévoir raisonnablement les éléments exceptionnels pour 2025, de sorte que les rapprochements pour les indicateurs prospectifs ne sont pas fournis. Aucun résultat financier absolu, chiffre prévisionnel ni action sur les marchés des capitaux n’est divulgué dans le texte du 8-K. L’Exhibit 104 fournit les données Inline XBRL de la page de couverture, et le rapport est signé par la SVP et Contrôleur Mary-Lee Stillwell.

Am 21. Juli 2025 reichte Verizon Communications Inc. einen aktuellen Bericht auf Formular 8-K (Punkt 2.02) ein, um eine Pressemitteilung und begleitende Finanztabellen vorzulegen, die die neuesten Betriebsergebnisse und die finanzielle Lage des Unternehmens darstellen. Die Einreichung gibt an, dass die Mitteilung (Anlage 99) sowohl GAAP-Zahlen als auch verschiedene Non-GAAP-Kennzahlen enthält—konsolidiertes EBITDA, konsolidiertes bereinigtes EBITDA (mit Wachstumsprognose), Segment-EBITDA/-Margen, bereinigtes Ergebnis je Aktie (mit Prognose), freier Cashflow (mit Prognose) und Nettoverschuldungsgrad ohne Sicherheiten—jeweils mit Abstimmungen zu den entsprechenden GAAP-Maßnahmen.

Das Management erläutert den Zweck dieser Non-GAAP-Maßnahmen und listet die Sondereffekte für 2024 auf (Abfindungen, Vermögensbereinigung, Altlasten aus Rechtsstreitigkeiten), die vom bereinigten EBITDA und Ergebnis je Aktie ausgeschlossen sind. Das Unternehmen weist darauf hin, dass eine vernünftige Prognose der Sondereffekte für 2025 nicht möglich ist, weshalb keine Abstimmungen für zukunftsgerichtete Kennzahlen bereitgestellt werden. Im Text des 8-K werden keine absoluten Finanzergebnisse, Prognosezahlen oder Kapitalmarktmaßnahmen veröffentlicht. Anlage 104 liefert die Inline-XBRL-Titelseitendaten, und der Bericht ist von SVP & Controller Mary-Lee Stillwell unterzeichnet.

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 _____________________________________________________________________________
FORM 8-K
 
 ______________________________________________________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: July 21, 2025
(Date of earliest event reported)
 ______________________________________________________________________________
Verizon Communications Inc.
(Exact name of registrant as specified in its charter)
 _______________________________________________________________________________  
Delaware1-860623-2259884
(State or other jurisdiction
of incorporation)
(Commission File Number)(I.R.S. Employer Identification No.)
1095 Avenue of the Americas10036
New York,New York
(Address of principal executive offices)(Zip Code)
Registrant’s telephone number, including area code: (212395-1000
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))



Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading Symbol(s)Name of Each Exchange on Which Registered
Common Stock, par value $0.10VZNew York Stock Exchange
Common Stock, par value $0.10VZThe Nasdaq Global Select Market
3.25% Notes due 2026VZ 26New York Stock Exchange
1.375% Notes due 2026VZ 26BNew York Stock Exchange
0.875% Notes due 2027VZ 27ENew York Stock Exchange
1.375% Notes due 2028VZ 28New York Stock Exchange
1.125% Notes due 2028VZ 28ANew York Stock Exchange
2.350% Fixed Rate Notes due 2028VZ 28CNew York Stock Exchange
1.875% Notes due 2029VZ 29BNew York Stock Exchange
0.375% Notes due 2029VZ 29DNew York Stock Exchange
1.250% Notes due 2030VZ 30New York Stock Exchange
1.875% Notes due 2030VZ 30ANew York Stock Exchange
4.250% Notes due 2030VZ 30DNew York Stock Exchange
2.625% Notes due 2031VZ 31New York Stock Exchange
2.500% Notes due 2031VZ 31ANew York Stock Exchange
3.000% Fixed Rate Notes due 2031VZ 31DNew York Stock Exchange
0.875% Notes due 2032VZ 32New York Stock Exchange
0.750% Notes due 2032VZ 32ANew York Stock Exchange
3.500% Notes due 2032VZ 32BNew York Stock Exchange
1.300% Notes due 2033VZ 33BNew York Stock Exchange
4.75% Notes due 2034VZ 34New York Stock Exchange
4.750% Notes due 2034VZ 34CNew York Stock Exchange
3.125% Notes due 2035VZ 35New York Stock Exchange
1.125% Notes due 2035VZ 35ANew York Stock Exchange
3.375% Notes due 2036VZ 36ANew York Stock Exchange
3.750% Notes due 2036VZ 36BNew York Stock Exchange
2.875% Notes due 2038VZ 38BNew York Stock Exchange
1.875% Notes due 2038VZ 38CNew York Stock Exchange
1.500% Notes due 2039VZ 39CNew York Stock Exchange
3.50% Fixed Rate Notes due 2039VZ 39DNew York Stock Exchange
1.850% Notes due 2040VZ 40New York Stock Exchange
3.850% Fixed Rate Notes due 2041VZ 41CNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition
Attached as an exhibit hereto are a press release and financial tables, dated July 21, 2025, issued by Verizon Communications Inc. (Verizon).
Non-GAAP Measures
Verizon’s press release and financial tables attached to the report include financial information prepared in conformity with generally accepted accounting principles in the United States (GAAP) as well as non-GAAP financial information. It is management's intent to provide non-GAAP financial information to enhance the understanding of Verizon's GAAP financial information, and it should be considered by the reader in addition to, but not instead of, the financial statements prepared in accordance with GAAP. Each non-GAAP financial measure is presented along with the corresponding GAAP measure so as not to imply that more emphasis should be placed on the non-GAAP measure. We believe that providing these non-GAAP measures in addition to the GAAP measures allows management, investors and other users of our financial information to more fully and accurately assess both consolidated and segment performance. The non-GAAP financial information presented may be determined or calculated differently by other companies and may not be directly comparable to that of other companies.
EBITDA and EBITDA Margin Related Non-GAAP Measures
Consolidated earnings before interest, taxes, depreciation and amortization (Consolidated EBITDA), Segment EBITDA and Segment EBITDA Margin are non-GAAP financial measures that we believe are useful to management, investors and other users of our financial information as they are widely accepted financial measures used in evaluating the profitability of a company and its operating performance in relation to its competitors.
Consolidated EBITDA is calculated by adding back interest, taxes, depreciation and amortization expense to net income.
Segment EBITDA is calculated by adding back segment depreciation and amortization expense to segment operating income. Segment EBITDA Margin is calculated by dividing Segment EBITDA by total segment operating revenues.
Consolidated Adjusted EBITDA and Consolidated Adjusted EBITDA Growth Forecast
Consolidated Adjusted EBITDA and Consolidated Adjusted EBITDA Growth Forecast are non-GAAP financial measures that we believe provide relevant and useful information to management, investors and other users of our financial information in evaluating the effectiveness of our operations and underlying business trends. We believe that Consolidated Adjusted EBITDA and Consolidated Adjusted EBITDA Growth Forecast are used by investors to compare a company’s operating performance to its competitors by minimizing impacts caused by differences in capital structure, taxes, and depreciation and amortization policies. Further, the exclusion of non-operational items and special items enables comparability to prior period performance and trend analysis.
Consolidated Adjusted EBITDA is calculated by excluding from Consolidated EBITDA the effect of the following non-operational items: equity in earnings and losses of unconsolidated businesses and other income and expense, net, and the following special items: severance charges, asset and business rationalization and legacy legal matter. Severance charges recorded during 2024 relate to separations under our voluntary separation program for select U.S.-based management employees as well as other headcount reduction initiatives. Asset and business rationalization recorded during 2024 predominately relates to the decision to cease use of certain real estate assets and exit non-strategic portions of certain businesses, as part of our continued transformation initiatives. Legacy legal matter recorded during 2024 relates to a litigation matter associated with a legacy contract for the production of telephone directories in Costa Rica by a subsidiary of Verizon.
We have not provided a reconciliation for our Consolidated Adjusted EBITDA Growth Forecast because we cannot, without unreasonable effort, predict the special items that could arise during 2025.
Net Unsecured Debt and Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio
Net Unsecured Debt and Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio are non-GAAP financial measures that we believe are useful to management, investors and other users of our financial information in evaluating Verizon’s ability to service its unsecured debt from continuing operations.
Net Unsecured Debt is calculated by subtracting secured debt and cash and cash equivalents from the sum of debt maturing within one year and long-term debt. Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio is calculated by dividing Net Unsecured Debt by Consolidated Adjusted EBITDA. For purposes of Net Unsecured Debt to Consolidated Adjusted EBITDA Ratio, Consolidated Adjusted EBITDA is calculated for the last twelve months.



Adjusted Earnings per Common Share (Adjusted EPS) and Adjusted EPS Forecast

Adjusted EPS and Adjusted EPS Forecast are non-GAAP financial measures that we believe are useful to management, investors and other users of our financial information in evaluating our operating results and understanding our operating trends without the effect of special items which could vary from period to period. We believe excluding special items provides more comparable assessment of our financial results from period to period.

Adjusted EPS is calculated by excluding from the calculation of reported EPS the effect of the following special items: amortization of acquisition-related intangible assets and severance, pension and benefits charges.

We exclude the amortization of acquisition-related intangible assets because the amount and timing of such charges are significantly impacted by the timing, size, number and nature of the acquisitions we consummate. While we have a history of significant acquisition activity, we do not acquire businesses on a predictable cycle, and the amount of an acquisition’s purchase price allocated to intangible assets and related amortization term are unique to each acquisition and can vary significantly from acquisition to acquisition. Exclusion of this amortization expense facilitates more consistent comparisons of operating results over time between our newly acquired and long-held businesses, and with both acquisitive and non-acquisitive peer companies. We believe that it is important for investors to understand that our non-GAAP financial measure adjusts for the intangible asset amortization but does not adjust the revenue that is generated in part from the use of such intangible assets.

We have not provided a reconciliation for our Adjusted EPS Forecast because we cannot, without unreasonable effort, predict the special items that could arise during 2025.

Free Cash Flow and Free Cash Flow Forecast

Free cash flow and free cash flow forecast are non-GAAP financial measures that reflect an additional way of viewing our liquidity that, when viewed with our GAAP results, provide a more complete understanding of factors and trends affecting our cash flows. We believe they are more conservative measures of cash flow since capital expenditures are necessary for ongoing operations. Free cash flow and free cash flow forecast have limitations due to the fact that they do not represent the residual cash flow available for discretionary expenditures. For example, free cash flow and free cash flow forecast do not incorporate payments made or expected to be made on finance lease obligations or cash payments for business acquisitions or wireless licenses. Therefore, we believe it is important to view free cash flow and free cash flow forecast as complements to our entire consolidated statements of cash flows.

Free cash flow is calculated by subtracting capital expenditures (including capitalized software) from net cash provided by operating activities. Free cash flow forecast is calculated by subtracting capital expenditures forecast (including capitalized software) from forecasted net cash provided by operating activities.

See the accompanying schedules for reconciliations of non-GAAP financial measures to GAAP.

Item 9.01. Financial Statements and Exhibits
(d) Exhibits.  
Exhibit
Number
  Description
99
Press release and financial tables, dated July 21, 2025, issued by Verizon Communications Inc.
104Cover Page Interactive Data File (formatted as inline XBRL).


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
  Verizon Communications Inc.
  (Registrant)
Date:July 21, 2025 /s/ Mary-Lee Stillwell
      Mary-Lee Stillwell
       Senior Vice President and Controller

FAQ

What did Verizon (VZ) file on July 21, 2025?

Verizon filed a Form 8-K to furnish a press release and financial tables covering its latest results of operations and financial condition.

Which non-GAAP metrics does Verizon highlight in the July 2025 8-K?

Consolidated EBITDA, Consolidated Adjusted EBITDA, Adjusted EPS, Free Cash Flow and related leverage ratios are emphasized.

Why does Verizon present non-GAAP measures in its 8-K?

Management believes they help investors assess performance, compare with peers and understand trends after adjusting for special or non-operational items.

What special items affected Verizon’s 2024 results according to the filing?

Severance charges, asset and business rationalization costs, and a legacy legal matter tied to a Costa Rican directory contract.

Who signed Verizon’s July 21, 2025 Form 8-K?

Senior Vice President & Controller Mary-Lee Stillwell signed the report on behalf of the company.
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