Sprint Corporation(S)- NYSE
  • Wed, May 4, 11:45 AM
    • SoftBank (OTCPK:SFTBY -1.4%) still looks like a bidder in the FCC's broadcast incentive spectrum auction.
    • But the company "won't be a big buyer," a source tells CTFN.
    • The participation of SoftBank in the auction has been an open question, with spectrum-rich Sprint (S -4.6%) electing to sit out what could be an expensive endeavor. So if it's taking part, it's likely looking for opportunistic purchases and "niche fill-ins."
    • SoftBank has been using creative financing to help Sprint with liquidity issues, and so a chance to bid on bargain spectrum could present itself with an obscurely named entity or smaller partner.
    • Now read Implications Of SoftBank Split »
    | Wed, May 4, 11:45 AM | 45 Comments
  • Tue, May 3, 9:16 AM
    • Sprint (NYSE:S) is up 2.3% premarket following fiscal Q4 earnings where cutting costs had a positive effect on adjusted profits, and across the board the company's losses met or beat expectations despite disappointing customer additions.
    • Operating income came to $8M, including charges of $258M. Adjusted EBITDA was up 24% to $2.16B, beating an expected $2.01B.
    • For the fiscal year, the company cut $1.3B in costs. It expects a "sustainable reduction of $2B or more of run rate operating expenses" coming out of the next fiscal year.
    • It added 22,000 net postpaid phone customers, bringing its fiscal 2015 total to net adds of 438K -- a 2M-customer turnaround from the prior year.
    • Overall, total net adds were 447,000 (includes postpaid net adds of 56,000 vs. expected 197,000, prepaid net losses of 264,000, wholesale/affiliate net adds of 655,000). Postpaid churn of 1.72%, 12 basis points better than prior year and lowest in a Q4.
    • Sprint's forecasting fiscal 2016 adjusted EBITDA of $9.5B-$10B (vs. consensus for $9.64B), and operating income of $1B-$1.5B. It also sees full-year capex of about $3B (with non-network expenditures dropping Y/Y) and adjusted free cash flow to be around break-even.
    • Press Release
    | Tue, May 3, 9:16 AM | 12 Comments
  • Tue, May 3, 7:34 AM
    • Sprint (NYSE:S): FQ4 EPS of -$0.14
    • Revenue of $8.1B (-2.2% Y/Y)
    • Press Release
    | Tue, May 3, 7:34 AM | 6 Comments
  • Mon, May 2, 5:30 PM
  • Fri, Apr. 29, 10:15 AM
    • Sprint (NYSE:S) has spiked, now up 2.8%, as it discloses two new transactions providing more than $3B in new liquidity.
    • The company say it has a second sale-leaseback deal with Mobile Leasing Solutions on devices, providing $1.1B in cash proceeds.
    • Separately, it's signed an 18-month bridge financing deal with Mizuho Bank providing $2B in additional liquidity.
    • Those moves are atop $2.2B in network-related financing from earlier this month. The sale-leaseback deal will be accounted for as on-balance sheet financing (assets will continue to be depreciated).
    | Fri, Apr. 29, 10:15 AM | 54 Comments
  • Tue, Apr. 19, 9:57 AM
    • Sprint (S +2%) is putting the wraps on a months-long sales reorganization, having named Jerry Gallegos as president of its West area, and tapping Claudio Hidalgo as president of the Florida/Puerto Rico/U.S. Virgin Islands region.
    • The company had undertaken a reset that divided sales responsibilities into four U.S. regions, with an area president heading each geography. Along with Gallegos in the West, Sprint has named Kevin Crull to lead Central, Jaime Jones to lead South, and Pat Delvin for Northeast.
    • A number of smaller regions within those areas have presidents, and Sprint has named more than a dozen to those positions.
    • Gallegos most recently was VP of field sales for Cox Communications. He'll be based in Phoenix and cover 14 western states, including western Texas.
    • Now read Seeking Alpha's Market Challenge: Connecting With Telecom »
    | Tue, Apr. 19, 9:57 AM | 56 Comments
  • Fri, Apr. 15, 3:45 PM
    • "Investors should ignore all of the issues around EIP and handset lease plans and the vehicles that have been set up to finance these," says New Street Research as it looks ahead to Sprint (S +3.3%) earnings coming April 26.
    • Instead, stakeholders should see a closing window for the struggling carrier and focus on ARPU, churn, and share of gross adds it attained. Sprint shares got a pickup yesterday as a tweet from CEO Marcelo Claure spurred chatter that T-Mobile might not be the only one with postpaid phone growth.
    • New Street says Sprint will need 25% of industry gross adds for three years to offset its repricing. And promotion-driven ARPU gains that it expects of $0.69 (to $59 for the quarter) would still bean a 7.5% Y/Y decline in ARPU.
    • One silver lining: The firm says it's "leery" of shorting the stock, considering the value of spectrum holdings.
    • Now read Sprint's Spectrum Is Worth A Premium, Not A Discount »
    | Fri, Apr. 15, 3:45 PM | 33 Comments
  • Thu, Apr. 14, 1:13 PM
    • A take from Wells Fargo that T-Mobile (NASDAQ:TMUS) was again set to grab all the industry's postpaid phone growth drew a seemingly skeptical response from Sprint (NYSE:S) chief Marcelo Claure.
    • "Hmm??" he tweeted, with a link to Wells' position. Sprint shares have gained 2.6% as some observers wonder whether that means Sprint's adding phones for Q1 as well.
    • Citi expects the company may have added net phones in Q1 and is likely to maintain or even improve gross adds Q/Q. T-Mobile, though, will keep increasing share as it has, Citi believes, with phone net adds of 775,000 (that, vs. Wells' estimate that T-Mobile added a net 768,000 handsets).
    • Now read Seeking Alpha's Market Challenge: Connecting With Telecom »
    | Thu, Apr. 14, 1:13 PM | 15 Comments
  • Wed, Apr. 13, 11:05 AM
    • Sprint (NYSE:S) is off 2.4% after a downgrade from Pacific Crest Securities, which considers it a "tactical short" ahead of earnings.
    • The firm downgraded Sprint to Underweight from Sector Weight, and cut its price target to $2.18 from $3.49. Shares have declined to $3.40, 37% below their 52-week high.
    • The company, which has extended a costly 50%-off competitive promotion for months, is reduced to competing on price vs. its bigger competitors, analyst Michael Bowen says in awaiting worse-than-expected subscriber adds and churn.
    • “Sprint’s lack of competitive tools other than price suggests fundamental issues," he writes. "If 50% off isn’t working, what will? We recommend investors take cover into Sprint’s fiscal Q4 earnings, and we would be selling shares.”
    • Sprint is set to report earnings before the open on April 26.
    • Now read Sprint's Spectrum Is Worth A Premium, Not A Discount »
    | Wed, Apr. 13, 11:05 AM | 31 Comments
  • Mon, Apr. 11, 11:11 AM
    • Sprint's (S -0.9%) debt situation doesn't look good, but it's even worse than that, say Bloomberg's Shira Ovide and Lisa Abramowicz: Bondholders were briefly aware of the risks but seem to have stopped pricing in the dangers.
    • Bonds have recovered from a fall decline, up about 8% since the end of January. But balance sheet debt doesn't allow for an upcoming accounting rules change that would push Sprint's total debt to $50.9B from $34B, according to Craig Moffett's calculations.
    • Lease payments for wireless towers that will need to be put on balance sheets are Sprint's "hidden debt bomb," they say, even if the rule change doesn't arrive until 2019 -- the obligation will still be there then, they note.
    • Adjusting for a higher debt and a a hit to EBITDA from industry shifts to equipment installments means Sprint's leverage nearly doubles, to 7.9 times EBITDA.
    • Those hoping for more rescues from SoftBank chief Masayoshi Son might be disappointed with his commitment level to a "broken toy," they say: “I’m a busy guy,” he said last year; “Why should I even concentrate on the U.S. market when the situation does not look good?”
    • Now read Sprint's Spectrum Is Worth A Premium, Not A Discount »
    | Mon, Apr. 11, 11:11 AM | 22 Comments
  • Fri, Apr. 1, 1:51 PM
    • Sprint (S +2.9%) has added a couple of new faces to leadership, and they're former Verizonites.
    • The company named Pat Devlin as president of the Northeast Area -- one of four regional units that the company reorganized its sales into -- and named Mariano Legaz the company's chief procurement officer.
    • Devlin was formerly Verizon's New York metro regional president; he'll report directly to CEO Marcelo Claure.
    • Legaz was previously Verizon's Florida regional president. He'll report to CFO Tarek Robbiati.
    • With the move, Sprint has named three of its four area presidents, leaving just the West to fill. Devlin is taking over the Northeast; Jamie Jones was named president of the South; and Kevin Crull president of Central. The company has also named almost all of its regional presidents (reporting into the area structure).
    • Now read Sprint's Spectrum Is Worth A Premium, Not A Discount »
    | Fri, Apr. 1, 1:51 PM | 57 Comments
  • Mon, Mar. 28, 6:27 PM
    • Sprint (NYSE:S) felt a regional voice and data outage today in the highly populated Northeast.
    • Twitter filled up with customer complaints Monday morning and the company acknowledged a service outage in "parts of the Northeast." it seemed concentrated on southern New Hampshire to southern New Jersey, with other problems occurring in northern Texas and the Chicago area.
    • The company said service levels had returned to normal in a tweet a few minutes before the market close.
    • Bad timing for the company, which on Friday introduced a 30-day 100% satisfaction guarantee designed to get customers to test the country's "fastest LTE network." Sprint's LTE Plus uses its triband spectrum portfolio for a richer experience in more than 150 markets, the company says.
    • Shares are up 0.3% after hours.
    | Mon, Mar. 28, 6:27 PM | 22 Comments
  • Thu, Mar. 24, 6:49 PM
    • Amid chatter that AT&T (NYSE:T) and Verizon (NYSE:VZ) have throttled Netflix video quality down, Netflix itself has admitted for the first time that it's the one doing the limiting.
    • Netflix (NASDAQ:NFLX) says it restricts video quality on those two and on most carriers worldwide, in order to protect its customers from busting through their data caps -- which could be expensive, and discourage viewing more Netflix.
    • The company is capping streams at 600 kbps -- well within speed capacities of most wireless networks -- in part because a two-hour movie in HD can consumer an entire month's data allowance. The company says it's working on its own "mobile data saver" to let consumers optimize Netflix against their available bandwidth.
    • Netflix doesn't throttle videos at T-Mobile (NASDAQ:TMUS) and Sprint (NYSE:S), due to "more consumer-friendly policies" on data overages (i.e., lower speed rather than expensive charges). It was a comment from T-Mobile chief John Legere about lower-quality video at Verizon and AT&T that launched the discussion; and T-Mobile's "Binge On" offering exempts video from customers' data caps, but reduces its quality to 480p (promised "DVD or better" quality).
    | Thu, Mar. 24, 6:49 PM | 103 Comments
  • Thu, Mar. 24, 6:07 PM
    • T-Mobile (TMUS -0.2%) faces limited organic growth in the future as it runs into capacity challenges, FBR notes in launching coverage of the stock at Market Perform.
    • Analysts David Dixon and Mike He set a price target of $40, implying just 8.1% upside from today's close of $37. TMUS is up 11.7% over the past 12 months, but is down 5.4% so far for 2016.
    • T-Mobile's network is set for near-term needs, and it should be an active player in the 600 MHz broadcast spectrum auction, but "expect BingeOn elasticity and the addition of low-band coverage spectrum to create a 4x multiplier increase for capacity demand."
    • Meanwhile, dramatically improving Sprint (S +3.8%) could gain momentum with low-cost capacity additions, they say: "We believe a resurgent Sprint could potentially overtake T-Mobile. If our view proves to be correct, we believe a stronger Sprint could make a successful attempt to acquire a potentially weakened T-Mobile under a new FCC administration."
    | Thu, Mar. 24, 6:07 PM | 10 Comments
  • Thu, Mar. 10, 3:39 PM
    • As it gets ready for 5G networking, Sprint (S -5.4%) will focus on small cells using its 2.5 GHz spectrum to pursue improvements, its chief financial officer says.
    • Speaking to the Deutsche Bank conference, CFO Tarek Robbiati says Sprint doesn't have enough towers densify enough without leveraging its 2.5 GHz airwaves, "the most efficient spectrum for high-capacity networks."
    • Read through competitor literature, he says, and they're pursuing spectrum "almost in microwave territory," because of its efficiency in moving large amounts of traffic.
    • The catch is that those frequencies don't propagate far, calling for more cell sites and therefore small cells in addition to macrosites.
    • "There are simply not enough tower sites in the country to do what we intend to do," he said. "... You need to think differently."
    • Previously: Softbank will bid in the upcoming spectrum auction - sources (Mar. 10 2016)
    • Previously: Sprint on rise after news of SoftBank company split (Mar. 07 2016)
    | Thu, Mar. 10, 3:39 PM | 109 Comments
  • Thu, Mar. 10, 3:23 PM
    • The FCC has launched a proposal on data privacy that doesn't ban data collection practices, but does require a broad opt-in from consumers.
    • The agency's plan, in the works since it reclassified many providers under net neutrality regulation last year, calls for consumer consent -- many broadband providers collect data without consent -- and for them to disclose their data collection, work to protect personal information and report data breaches.
    • The move stops largely at Internet providers and doesn't extend to sites with broad consumer data collections, including Twitter, Google or Facebook.
    • The move comes a few days after Verizon (NYSE:VZ) settled an FCC privacy probe by agreeing to get consumer consent and pay $1.35M, an amount that suggests the FCC is more concerned about the opt-in than about data collection in general.
    • The proposal goes to an initial March 31 open meeting vote.
    • FCC fact sheet
    • Related tickers: T, VZ, TMUS, S, CMCSA, CHTR, TWC, CVC, CTL, FTR, CCOI, DISH
    • Previously: Verizon paying $1.35M, allowing data opt-outs in privacy probe (Mar. 07 2016)
    | Thu, Mar. 10, 3:23 PM | 15 Comments
Company Description
Sprint Corp. operates as a communication company, which offers a comprehensive range of wireless and wire line communications products and services to consumers, businesses and government users. The company operates through two segments: Wireless and Wireline. The Wireless segment offers... More
Sector: Technology
Industry: Wireless Communications
Country: United States