Verizon Communications Inc. (VZ) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Okay, morning, everyone. Thanks for joining us for our first session this morning. So I'm really pleased to introduce Tony Skiatis, who's the Executive Vice President and Chief Financial Officer of Verizon. Tony, welcome. Thank you. Thank you. Thank you for hosting us, Brian. And before we get started, I think you've got some safe harbor language you want to share. Sure. Just wanted to mention that Verizon's safe harbor statement and SEC filings are on our investor relations website, and comments that we may make are forward-looking in nature and subject to risks. uncertainty. So with that, we can get going. Thanks. Great. Our pleasure. Maybe to start off, can you give us just some perspective perspective on the transformation that Dan Schulman commenced after taking on the CEO role in October. What are some of the goals the management team is trying to achieve with it and how will that accrue to the company and shareholders in terms of benefits? Sure. We have a lot going on, as you've heard. We're creating a new Verizon with the goal of being the best and playing to win. And as Dan outlined on the earnings call back in January, he talked about the company being at a critical inflection point and making sure that we make significant changes to our culture and shift our culture towards the goals of delighting customers and delivering for shareholders. And in doing that, leveraging our network excellence to drive mobility and broadband growth and doing that in a fiscally responsible way. And the last 100 or so days have been filled with a lot of change, but also a renewed sense of excitement and optimism inside the company. We moved quickly and took bold actions to drive $5 billion of cost out of the business. Some of that will be reinvested in the customer, with the r...