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PR Newswire
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Level 3 Reports Second Quarter 2017 Results
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PR Newswire
BROOMFIELD, Colo., Aug. 2, 2017
BROOMFIELD, Colo., Aug. 2, 2017 /PRNewswire/ -- Level 3 Communications, Inc. (NYSE: LVLT) today reported results for the quarter ended June 30, 2017.
"Level 3 continues to focus on delivering profitable growth and expanding margins," said Jeff Storey, president and CEO of Level 3. "With the CenturyLink team, we have gained good traction on integration planning. I am excited to become part of the combined company management team when the transaction closes, as I believe the combination with CenturyLink will enable us to deliver significant value to our stockholders, customers and employees."
Total revenue was $2.061 billion for the second quarter 2017, compared to $2.056 billion for the second quarter 2016. In the second quarter 2017, the company generated net income of $154 million and basic earnings per share of $0.42.
Financial Results
|
Metric ($ in millions) | Second | Second |
| Core Network Services Revenue | $1,965 | $1,956 |
| Wholesale Voice Services Revenue | $96 | $100 |
| Total Revenue | $2,061 | $2,056 |
| Network Access Costs | $675 | $676 |
| Network Access Margin | 67.2% | 67.1% |
| Network Related Expenses (NRE)(2) | $331 | $335 |
| Selling, General and Administrative Expenses (SG&A)(2) | $333 | $330 |
| Non-cash Compensation Expense | $39 | $31 |
| Adjusted EBITDA(3) | $722 | $715 |
| Adjusted EBITDA, excluding acquisition-related expenses(3)(4) | $744 | $715 |
| Adjusted EBITDA Margin(3) | 35.0% | 34.8% |
| Adjusted EBITDA Margin, excluding acquisition-related expenses(3)(4) | 36.1% | 34.8% |
| Cash Flows from Operating Activities(3)(5) | $564 | $631 |
| Capital Expenditures | $328 | $367 |
| Capital Expenditures, excluding acquisition-related capital expenditures(6) | $322 | $367 |
| Unlevered Cash Flow(3) | $359 | $396 |
| Unlevered Cash Flow, excluding acquisition-related expenses(3)(5) | $362 | $396 |
| Free Cash Flow(3) | $233 | $264 |
| Free Cash Flow, excluding acquisition-related expenses(3)(5) | $236 | $264 |
| Net Income(7) | $154 | $156 |
| Net Income per Common Share-Basic(7) | $0.42 | $0.44 |
| Weighted Average Shares Outstanding (in thousands)- Basic | 362,385 | 357,924 |
| | |
| (1) | The reported second quarter 2016 results have been adjusted to reflect changes made to customer assignments between the wholesale and enterprise channels as of the beginning of 2017. |
| (2) | Excludes non-cash compensation expense. |
| (3) | See schedule of non-GAAP metrics for definitions and reconciliation to GAAP measures. |
| (4) | In the second quarter 2017, acquisition-related expenses were $22 million. |
| (5) | In the second quarter 2017, cash paid for acquisition-related expenses was $3 million. |
| (6) | In the second quarter 2017, acquisition-related capital expenditures were $6 million. |
| (7) | Results for the second quarter 2016 have been adjusted to reflect the Company's adoption of Account Standards Update 2016-09, Improvements to Employee Share-Based Payment Accounting. |
Second Quarter 2017 Revenue Results
|
Core Network ($ in millions) |
Second Quarter Werbung Mehr Nachrichten zur Level 3 Communications Aktie kostenlos abonnieren
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