Verizon (VZ) official guidance

The company continues to expect to repurchase up to $4.5 billion for the full year.

We are now raising our full year buyback target to up to $4.5 billion, reflecting both our accelerating free cash flow and our conviction that Verizon stock at current levels represents a compelling use of capital.

Verizon also expanded its full-year share buyback target to up to $4.5 billion.

You know, our plan of at least $3 billion is appropriate at this time.

•Verizon successfully completed $2.5 billion of share repurchases in first-quarter 2026, and remains on track for its full-year target of at least $3.0 billion.

We expect to repurchase at least $3 billion of common stock under this authorization in 2026.

Capital expenditures were $8.2 billion through the end of the second quarter. We are executing towards our full year guide of $16 billion-$16.5 billion as we continue to focus on future growth opportunities within mobility and broadband.

Capital expenditures of $16.0 billion to $16.5 billion.

We're on track to achieve our CapEx guidance of $16 billion-$16.5 billion for the full year.

•Capital expenditures of $16.0 billion to $16.5 billion.

Capital expenditures of $16.0 billion to $16.5 billion. This includes a fiber build pace of at least 2.0 million passings in 2026.

Adjusted EPS1 of $4.99 to $5.04, or year-over-year growth of 6.0 to 7.0 percent, representing a significant acceleration compared to recent historical performance.

•Adjusted EPS1 of $4.95 to $4.99, or year-over-year growth of 5.0 to 6.0 percent, representing a significant acceleration compared to recent historical performance.

Adjusted EPS1 of $4.90 to $4.95, or year-over-year growth of 4.0 percent to 5.0 percent, representing a significant acceleration compared to recent historical performance.

We continue to build out fiber at an aggressive pace and remain on track to end the year with over 32 million fiber passings.

We are solidly on track to have more than 32 million fiber passings by the end of this year.

| Free Cash Flow Forecast | $ | 21,940 - 22,140 | $ | 21,500 |

We expect our free cash flow performance to ramp as we further realize the full run rate of our operating expense savings and grow volumes responsibly. We are on track to deliver our full-year free cash flow guidance of $21.5 billion or more.

•Free cash flow1 of $21.5 billion or more, growing approximately 7.0 percent or more from 2025, which will mark the highest free cash flow1 generated since 2020.

Free cash flow1 of $21.5 billion or more, growing approximately 7.0 percent or more from 2025, which will mark the highest free cash flow1 generated since 2020.

| Net Cash Provided by Operating Activities Forecast | $ | 37,940 - 38,640 | $ | 37,500 - 38,000 |

•Cash flow from operations of $37.5 billion to $38.0 billion.

Cash flow from operations of $37.5 billion to $38.0 billion.

We continue to expect postpaid phone net adds to be in the upper half of our 750,000-1 million range for the full year.

Total retail postpaid phone net additions are expected to be in the upper half of the 750,000 to 1.0 million range, which is approximately 2 to 3 times the 2025 reported result.

We also now anticipate our postpaid phone net adds to be in the upper half of our 750,000-1 million range.

•Total retail postpaid phone net additions are now expected to be in the top half of the 750,000 to 1.0 million range, which is approximately 2 to 3 times the 2025 reported result.

Total retail postpaid phone net additions of 750,000 to 1.0 million, which is approximately 2 to 3 times the 2025 reported result.

For the full year, we are now guiding revenues to grow 2.5%-3%, the upper half of our previous 2%-3% range.

Mobility and broadband service revenue growth for 2026 to be 2.5 to 3.0 percent, with wireless service revenue growth approximately flat in 2026 as the company transitions to sustainable volume-based growth.

We are reaffirming the balance of our guidance, mobility and broadband service revenue growth of 2%-3%, with Q1 being the low point of 2026, and free cash flow growth of approximately 7% or more versus last year.

Our Q4 mobility and broadband service revenue is now anticipated to grow at approximately 4% year-over-year.

Total mobility and broadband service revenue growth is expected to approach 3.0 percent in third-quarter 2026 and approximately 4.0 percent in fourth-quarter 2026, accelerating from the 2.8 percent increase reported in the second-quarter 2026.

On the back of our first quarter performance, the leading indicators we see in our business and the traction we are seeing in our transformation work streams, we are raising our guidance for adjusted EPS growth to 5%-6% versus the prior range of 4%-5%.

Free cash flow1 growth of 9.0 to 10.0 percent year-over-year.

We remain firmly on track to achieve our target net unsecured leverage ratio of 2.0x-2.25x during the 2027 time frame.

Total mobility and broadband service revenue growth is expected to approach 3.0 percent in third-quarter 2026 and approximately 4.0 percent in fourth-quarter 2026, accelerating from the 2.8 percent increase reported in the second-quarter 2026.

Mobility and broadband service revenue growth for 2026 to be 2.5 to 3.0 percent, with wireless service revenue growth approximately flat in 2026 as the company transitions to sustainable volume-based growth.

•Total mobility and broadband service revenue growth of 2.0 percent to 3.0 percent, equating to approximately $93 billion. Wireless service revenue growth will be approximately flat in 2026 as the company transitions to sustainable volume-based growth.

Wireless service revenue growth will be approximately flat in 2026 as the company transitions to sustainable volume-based growth.