Sprint beats by $0.04, beats on revs; Q4 prepaid churn was 4.58% (5.17 -0.25)
Reports Q4 (Mar) earnings of $0.02 per share, excluding non-recurring items, $0.04 better than the Capital IQ Consensus of ($0.02); revenues fell 5.3% year/year to $8.08 bln vs the $7.99 bln Capital IQ Consensus.
Reported Q4 postpaid phone net additions of 55,000 marked the eleventh consecutive quarter of net additions; Q4 prepaid net additions of 170,000
Prepaid churn of 4.58% was the lowest in three years; for Q4, postpaid churn was 1.78%, prepaid churn was 4.30%
Postpaid ARPU was $44.40, prepaid was $37.15
The company expects FY18 adjusted EBITDA of $11.3 billion to $11.8 billion. Including the impact of the new revenue recognition accounting standard, adjusted EBITDA is expected to increase to a range of $11.6 billion to $12.1 billion.
For FY18, co expects cash capital expenditures excluding leased devices to be $5 billion to $6 billion.
Co also announced that its Board of Directors has elevated Marcelo Claure to Executive Chairman, and appointed Michel Combes to the role of CEO. In their new roles, Claure and Combes will collaborate on the continued execution of Sprint's strategy as well as its planned combination with T-Mobile. The transition is expected to occur on or before May 31, 2018. In connection with these changes, Sprint has initiated a search for a new Chief Financial Officer. The Company will consider internal and external candidates.