Verizon Reports Q2 2026 Results and Presents Non-GAAP Financial Performance Measures

Verizon's Presentation of Dual Financial Reporting Approach

Verizon Communications Inc. disclosed financial results and accompanying financial tables in a current report filed July 24, 2026. The announcement included financial information prepared in conformity with generally accepted accounting principles in the United States (GAAP) alongside supplementary non-GAAP financial information. According to the filing, management stated its intent to provide non-GAAP financial information to enhance understanding of Verizon's GAAP financial information, with the expectation that readers would consider both presentations together rather than relying on one measure exclusively.

The company's approach reflected a recognized practice among large telecommunications operators to present multiple financial perspectives. The filing explained that each non-GAAP financial measure is presented alongside the corresponding GAAP measure to avoid implying that greater emphasis should be placed on the non-GAAP measure. Verizon noted that providing both reporting standards allows management, investors, and other users of financial information to more fully and accurately assess both consolidated and segment performance. The company acknowledged that non-GAAP financial information presented may be determined or calculated differently by other companies and may not be directly comparable to that of other companies.

EBITDA and Related Non-GAAP Measures Defined

The filing detailed Verizon's use of Consolidated earnings before interest, taxes, depreciation and amortization (Consolidated EBITDA) as a key non-GAAP financial measure. According to the disclosure, the company believes this metric is useful to management, investors, and other users of financial information when evaluating operating profitability on a more variable cost basis. Consolidated EBITDA excludes depreciation and amortization expense related primarily to capital expenditures and acquisitions, as well as enabling evaluation of operating performance in relation to Verizon's competitors.

The filing specified that Consolidated EBITDA is calculated by adding back interest, taxes, depreciation and amortization expense to net income. Segment EBITDA is calculated by adding back segment depreciation and amortization expense to segment operating income. The company further defined Segment EBITDA Margin as calculated by dividing Segment EBITDA by total segment operating revenues. These metrics, the filing indicated, provide a framework for comparing operational performance across different business units and over time periods.

Adjusted EBITDA as a Performance Comparison Tool

Verizon disclosed that Consolidated Adjusted EBITDA and Consolidated Adjusted EBITDA Margin are non-GAAP financial measures that the company believes provide relevant and useful information to management, investors, and other users of financial information. According to the filing, these measures are intended to evaluate the effectiveness of the company's operations and underlying business trends. The company stated that Consolidated Adjusted EBITDA and Consolidated Adjusted EBITDA Margin are widely used by investors to compare a company's operating performance to its competitors by minimizing impacts caused by differences in capital structure, taxes, and depreciation and amortization policies.

The filing emphasized that the exclusion of non-operational items and special items from Adjusted EBITDA metrics enables comparability to prior period performance and trend analysis. The company noted that Consolidated Adjusted EBITDA is calculated according to a specific methodology, though the filing's content provided herein does not extend to the complete calculation steps. This approach reflects industry practice among large telecommunications enterprises seeking to present normalized operating performance independent of capital structure or unusual transactions.

Securities Registered and Trading Information

The filing disclosed that Verizon's common stock, with par value of $0.10 per share, trades under the ticker symbol VZ on both the New York Stock Exchange and The Nasdaq Global Select Market. The company also listed numerous debt securities registered for trading on the New York Stock Exchange, spanning maturity dates from 2026 through 2056. These securities included fixed-rate notes with coupons ranging from 0.375% to 5.7427%, reflecting Verizon's substantial debt capital structure and the breadth of its investor base across multiple maturity horizons.

The registered securities included senior notes due in years ranging from 2026 to 2041, as well as junior subordinated notes with due dates in 2056. This diverse debt profile, disclosed in the filing, reflects Verizon's reliance on capital markets financing across the yield curve. The company's listing of securities on the New York Stock Exchange, historically the primary trading venue for major telecommunications debt, underscores the institutional interest in Verizon's fixed income securities and their accessibility to both retail and institutional investors.

Corporate Structure and Contact Information

The filing identified Verizon Communications Inc. as a Delaware corporation with Commission File Number 1-8606 and I.R.S. Employer Identification Number 23-2259884. The company's principal executive offices are located at 1095 Avenue of the Americas, New York, New York, 10036. The filing provided the company's telephone contact number as (212) 395-1000. These administrative details establish the formal legal and operational foundation for Verizon's reporting obligations and investor communications infrastructure.

Verizon's incorporation in Delaware reflects common practice among large publicly traded corporations seeking the legal and regulatory framework established by Delaware corporate law. The company's New York headquarters address positions it at a major financial center, facilitating coordination with financial markets, regulatory agencies, and investor relations activities. The disclosure of standard corporate contact information in the filing provides the foundation for investor communications and regulatory compliance.

Non-GAAP Reconciliation and Disclosure Framework

The filing explained Verizon's framework for reconciling non-GAAP measures with GAAP financial statements. According to the disclosure, the company believes that financial users benefit from understanding both standardized GAAP measures and performance metrics that exclude certain items to facilitate period-to-period and company-to-company comparisons. The filing stated that the company attaches a press release and financial tables to the report that include both GAAP and non-GAAP financial information, with the expectation that readers would review both presentations in tandem.

This dual-reporting approach reflects Securities and Exchange Commission guidance regarding appropriate use and disclosure of non-GAAP financial measures. The filing's emphasis on presenting each non-GAAP measure alongside its GAAP counterpart demonstrates Verizon's commitment to transparency and comparability. By explicitly defining calculation methodologies and explaining the business purpose for each non-GAAP measure, the company provides investors with the information necessary to understand and evaluate the company's financial performance from multiple analytical perspectives.

Segment Performance Evaluation Methodology

The filing detailed how Verizon uses segment-level non-GAAP measures to evaluate business unit performance. Segment EBITDA, calculated by adding back segment depreciation and amortization expense to segment operating income, provides a view of operating profitability at the business segment level independent of capital structure decisions. The company indicated that Segment EBITDA Margin, calculated by dividing Segment EBITDA by total segment operating revenues, offers a normalized view of operating efficiency comparable across different business segments and time periods.

By presenting segment-level performance metrics, the filing indicated that investors can assess the operational effectiveness of different business units within Verizon's broader corporate structure. This segmental approach enables identification of operational trends and relative performance across telecommunications services, which may include wireless, wireline, and other business categories. The methodology disclosed in the filing allows investors and analysts to normalize for differing levels of capital intensity across segments and to evaluate management's operational decision-making independent of financing choices.

Importance of Context and Comparability in Financial Metrics

The filing emphasized that non-GAAP financial information should be considered in addition to, but not instead of, financial statements prepared in accordance with GAAP. The company acknowledged that non-GAAP financial measures may be determined or calculated differently by other companies and may not be directly comparable to similar measures reported by competitors. This cautionary statement reflects the inherent limitations of non-GAAP metrics and the importance of investors maintaining awareness of definitional differences across industry participants.

Verizon's explicit acknowledgment of potential comparability limitations demonstrates a commitment to transparent financial disclosure. By clarifying that non-GAAP measures represent management's calculation methodology and may differ from competitors' approaches, the company helps investors understand the analytical framework underlying management's performance assessments. The filing's emphasis on reviewing non-GAAP measures alongside GAAP information establishes a disciplined approach to financial reporting that prioritizes investor understanding over presentation of any single favorable metric.