On the fourth quarter earnings call, Verizon outlined a comprehensive transformation strategy focused on improving customer experience, reducing churn and driving operational efficiency. CEO Dan Schulman acknowledged a recent network outage and described the company as being at a “critical inflection point,” committing to a rapid “turnaround” that simplifies customer interactions and rebuilds brand trust. In the quarter, Verizon achieved over one million net adds across mobility and broadband, marking its highest quarterly customer growth in six years. Postpaid phone net additions reached 616,000, including 551,000 consumer lines, while prepaid growth continued for the sixth straight quarter with 109,000 net adds. Broadband net adds totaled 372,000, driven by 319,000 fixed wireless access connections and 67,000 fiber-optic internet additions—the strongest fourth-quarter fiber performance since 2020.

Verizon completed its acquisition of Frontier in the quarter and emphasized the transaction’s role in its converged-services strategy. The combined entity now passes over 30 million fiber locations, with significant cross-sell potential in former Frontier markets where wireless penetration remains low. Management plans to add at least two million additional fiber passings this year and targets 40 to 50 million passings over the medium term. Integration synergies are now expected to exceed $1 billion in annual run-rate operating cost savings by 2028—double the initial estimate—driven by network consolidation, third-party contract efficiencies and unified marketing efforts. Frontier itself added 125,000 fiber connections in the fourth quarter, a 29% year-over-year increase, and deployed 1.3 million new passings in 2025, expanding its footprint to over nine million addresses.

CFO Tony Skiadas reported that Verizon met or exceeded its full-year guidance for adjusted EBITDA, adjusted EPS and free cash flow. Fourth-quarter adjusted EBITDA reached $11.9 billion, contributing to a full-year total of $50 billion, up 2.5% year-over-year. Adjusted EPS was $1.09 for the quarter and $4.71 for 2025, while full-year free cash flow totaled $20.1 billion. Operating cash flow was $37.1 billion against $17 billion in capital expenditures. Net unsecured debt fell by $3.6 billion to $110.1 billion, yielding a debt-to-EBITDA ratio of 2.2x. For 2026, Verizon is guiding to 750,000–1 million postpaid phone net adds, 2%–3% growth in mobility and broadband revenue, and adjusted EPS of $4.90–$4.95. The company plans capital spending of $16–16.5 billion and free cash flow of at least $21.5 billion, while maintaining its dividend—which has increased for 20 consecutive years—and a $25 billion share repurchase authorization over three years.