CenturyLink (CTL): Q4 EPS of $0.67 misses by $0.01. Revenue of $4.58B misses by $10M. Expects Q1...

CenturyLink (CTL): Q4 EPS of $0.67 misses by $0.01. Revenue of $4.58B misses by $10M. Expects Q1 revenue of $4.46B-$4.51B and EPS of $0.67-$0.72 vs. consensus of $4.55B and $0.66. Expects 2013 revenue of $18.1B-$18.3B and EPS of $2.50-$2.70 vs. a consensus of $18.2B and $2.64. $2B stock buyback program authorized, dividend lowered to $0.54/share from $0.725/share. Shares -10.7% AH. (PR)
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Comments (9)
  • Long_Short
    , contributor
    Comments (31) | Send Message
    Dividend DECREASED from $0.725 to $0.54.


    Update: Story was updated to reflect decrease rather than increase. Thx.
    13 Feb 2013, 04:24 PM Reply Like
  • rgperrin
    , contributor
    Comments (1566) | Send Message
    Ah, yeah, that makes a difference, a r-e-a-l-l-y big difference.
    13 Feb 2013, 04:56 PM Reply Like
  • rhjacks
    , contributor
    Comment (1) | Send Message
    Yes, that's the big news for us retail investors.
    14 Feb 2013, 05:12 AM Reply Like
  • Dirk McCoy
    , contributor
    Comments (666) | Send Message
    Call me dumb, but decreasing the dividend 30% while buying back $2B worth of shares when you only miss by a penny and expect next quarter to outperform seems a bit odd. Hopefully a minor bump in the road but wouldn't want to be in a position of having to sell shares to fund a wedding or something at the moment.
    13 Feb 2013, 04:38 PM Reply Like
  • rgperrin
    , contributor
    Comments (1566) | Send Message
    You are not "dumb"; quite the contrary, you are very perceptive. Right now, I wouldn't bet on Century's self-reported and self-serving (promising) outlook. I have been down this road before, and with the best of corporate liars. The most obvious recent example is Frontier Communications, whose succession of dividend cuts ($1 to $0.75 to $0.40 to . . .) is always to save and fortify the ship, which, as we know, continues to take on water. Each time, too, the new, reduced dividend is absolutely "sustainable" for the indefinite future. And, of course, as we now know, such assurances are worthless.
    13 Feb 2013, 05:01 PM Reply Like
  • pagreen1966
    , contributor
    Comments (661) | Send Message
    (CTL) kicks its shareholders in the teeth. Don't believe the guidance, this company is in trouble. More dividend cuts to come!
    13 Feb 2013, 05:51 PM Reply Like
  • KrankyKraut
    , contributor
    Comments (13) | Send Message
    This dividend cut came as a total surprise and disappointment to me. I didn't see this hinted at, announced or discussed before. Did I miss something?
    14 Feb 2013, 04:36 AM Reply Like
  • Poverty2
    , contributor
    Comments (2) | Send Message
    30% drop in dividends is very upsetting. Perhaps it is time to rethink this stock.
    14 Feb 2013, 05:05 AM Reply Like
  • koffeedragon
    , contributor
    Comments (5) | Send Message
    Wait... I thought the dividend was cut!
    14 Feb 2013, 05:14 AM Reply Like
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