Today VZ announced results and the stock moved up 6.7%. From Oct’23 low $30 has moved up 40%. Impressive for a telecom utility. Still sporting 6.3% dividend yield. For 2023 FCF is $18.7 B.
Full-year 2023 capital expenditures were $18.8 billion, down from $23.1 billion in 2022 and capex for 2024 is expected to be around ($17-$17.5). VZ expects $1 ~$1.5 B reduction in capex. Expect most of this to go towards retiring debt.
Still a solid dividend and improving fundamentals.