“CenturyLink reported total revenue of $5.61 billion for the third quarter 2019, compared to $5.82 billion for the third quarter 2018. The company continues investing in both growth and operational efficiency,” according to Jeff Storey, President and CEO.
“You can see the benefits of those investments with the year-over-year growth in Enterprise and International/Global Accounts business units, along with expansion of Adjusted EBITDA margins,” Storey said.
“We remain committed to delivering an excellent customer experience while enhancing our product capabilities and expanding what I believe is the world’s best fiber network.”
Diluted earnings per share was $0.28 for the third quarter 2019, compared to $0.25 for third quarter 2018. Diluted earnings per share for the third quarter 2019 was $0.31 compared to $0.30 per share for the third quarter in 2018, excluding the aggregate effects of Integration and Transformation Costs and the Special Items of $26 million and $55 million, respectively.
According to Jennifer Fritzsche, Managing Director of Wells Fargo Securities, CTL has not shied away from its strategy of focusing on profitable customer growth and less on sales at all costs. “We would note sentiment continues to weigh on the space, particularly in enterprise where we have already seen and heard about weakness from T and VZ in their respective Q3’19 prints. If CTL is able to print an in-line quarter and reiterate 2019 guide (and trends in IGAM and enterprise space),” Fritzsche said, “we believe it is enough to continue making the stock work from current levels.”
November 7, 2019