CenturyLink’s (NYSE: CTL) Q4 2019 earnings were inline with the market’s expectations while revenue surpassed the Street’s estimates. The company reported adjusted EPS of $0.33 on revenue of $5.57 billion. Analysts had projected CenturyLink to post earnings of $0.33 per share on revenue of $5.55 billion. CTL shares reached a new yearly high ($15:30) in today’s regular trading session and were down about 3% during the after-market session.
On a GAAP basis, earnings per share was $0.21 for the fourth quarter of 2019, compared to a loss of $2.26 per share in the fourth quarter 2018.
Commenting on the 2020 outlook, CFO Neel Dev said, “In 2019, we met all of our key financial outlook measures, highlighted by adjusted EBITDA growth and margin expansion. Our investments and initiatives position us well for 2020, and we expect full year adjusted EBITDA of $9.0 to $9.2 billion, capital expenditures of $3.6 to $3.9 billion and free cash flow of $3.1 to $3.4 billion.”
On January 31, the Monroe, LA based telecom company announced that it had completed an extension and repricing of its senior secured credit facilities originally entered into in June 2017.
In January, CenturyLink secured a task order, worth up to $1.6 billion, to provide secure network services and IT modernization solutions to the U.S. Department of the Interior (DOI). This order covers two areas and has a combined maximum value of $1.6 billion, with 11 one-year options that run through 2032.
CenturyLink stock had gained 2% in the past three months and 4% from this time last year.
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