VZ · 8-K · 20261026PR000049
Free Cash Flow and Capex
VERIZON COMMUNICATIONS INC · 2026-10-26 · Importance 48 · Surprise 40 · No source text
Third-quarter operating cash flow was $11.517 billion, up 2.2% year over year, and free cash flow was $7.801 billion, up 12.1%. For the first nine months, operating cash flow increased to $29.936 billion from $28.023 billion, while free cash flow rose 14.3% to $18.010 billion. Nine-month capital expenditures were $11.926 billion, compared with $12.263 billion a year earlier. Verizon forecast full-year 2026 capital expenditures of $16.0 billion to $16.5 billion and updated free cash flow guidance to $22.440 billion to $22.540 billion.
Key facts
- Verizon's updated full-year 2026 free cash flow forecast is $22.440 billion to $22.540 billion, compared with its previous forecast of $21.940 billion to $22.140 billion. source
- Verizon expects 2026 capital expenditures of $16.0 billion to $16.5 billion, inclusive of success-based investments for AI Connect. source
- Verizon raised its 2026 free cash flow growth forecast to 11.5 percent to 12.0 percent, from 9.0 percent to 10.0 percent previously. source
- Verizon's cash flow from operations was $11.5 billion in third-quarter 2026, up 2.2 percent year over year; free cash flow was $7.8 billion, up 12.1 percent. source
- Verizon's cash flow from operations was $29.9 billion in the first nine months of 2026, compared with $28.0 billion in the same period of 2025, growth of nearly 7.0 percent. source
- Verizon's free cash flow was $18.0 billion in the first nine months of 2026, up 14.3 percent year over year. source
- Verizon's capital expenditures were $11.9 billion in the first nine months of 2026. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -3.3% | Verizon expects 2026 capital expenditures of $16.0 billion to $16.5 billion, inclusive of success-based investments for AI Connect. |
| cash | negative | realized | -2.9% | Verizon's capital expenditures were $11.9 billion in the first nine months of 2026. |
| cash | positive | realized | +0.5% | Verizon's free cash flow was $18.0 billion in the first nine months of 2026, up 14.3 percent year over year. |
| cash | positive | realized | +0.5% | Verizon's cash flow from operations was $29.9 billion in the first nine months of 2026, compared with $28.0 billion in the same period of… |
| cash | positive | committed | +0.1% | Verizon's updated full-year 2026 free cash flow forecast is $22.440 billion to $22.540 billion, compared with its previous forecast of… |