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Sprint Corporation (S)

- NYSE
  • Mon, May 11, 3:57 AM
    • SoftBank's (OTCPK:SFTBY) chief executive Masayoshi Son has anointed the head of the firm's Internet investment arm, Nikesh Arora, as a future successor, but confirmed that he won't be retiring yet.
    • The announcement followed the company's latest earning results that beat forecasts, despite the continuing struggles to turn around U.S. unit Sprint (NYSE:S).
    • For the fiscal year that ended in March, SoftBank said its net income rose 29% to ¥763.7B, while revenue jumped 30%. Operating profit of ¥982.7B beat the ¥900 billion target the company set in November.
    • SoftBank, however, failed to provide guidance for the current year, citing a "large number of uncertain factors."
    | 7 Comments
  • Tue, May 5, 8:49 AM
    • Sprint (NYSE:S) was up 0.8% premarket as it posted a wider loss for its fiscal Q4 and lost core postpaid phone subscribers, but held off hard-charging T-Mobile in overall customers, 57.1M to 56.8M.
    • Losses of $0.06 (A $0.05 adjusted loss) were expected, but revenue that dropped nearly 7% to $8.3B missed expectations by about $200M.
    • The company posted 1.2M net adds to its platform -- including 211K postpaid net adds and 546 prepaid net adds -- but postpaid phone subscribers lost 201K on a net basis. Net platform adds were boosted by an increase of 349K tablet subscribers. Platform postpaid churn of 1.84% improved from 2.3% last quarter.
    • Revenue breakout: Service revenue, $7.14B (down 9.4%); Equipment revenue, $1.14B (up 14.5%).
    • Adjusted EBITDA of $1.74B beat an expected $1.67B.
    • Press release
    | 12 Comments
  • Tue, May 5, 7:13 AM
    • Sprint (NYSE:S): FQ4 EPS of -$0.06 vs. -$0.04 in 4Q14
    • Revenue of $8.28B (-6.7% Y/Y)
    • Press Release
    | 3 Comments
  • Mon, May 4, 9:57 PM
    • Sprint (NYSE:S) reports earnings early Tuesday, and this is the quarter where watchers fear the company will lose its No. 3 status to T-Mobile -- which did its part by perhaps capturing effectively all of the industry's subscriber growth for the quarter.
    • Revenues are expected to decline as much as 5% as the big four wireless firms continue their price war, and "We believe Sprint will be a postpaid phone loser for the quarter," says Jonathan Schildkraut of Evercore. But: "The second story we see is an improvement in reported financial results — with the most important impact from leasing."
    • Yet unknown is the impact of Sprint's deal to co-brand 1,400 former RadioShacks.
    • Last quarter, postpaid average revenue per user declined both Y/Y and sequentially, to $58.90. The company reported a loss of $0.60/share on revenue that had fallen 1.9%.
    | 6 Comments
  • Tue, Apr. 28, 8:42 PM
    • During T-Mobile's (NYSE:TMUS) Q1 earnings call, colorful CEO John Legere took another opportunity to hint at the tie-up that increasingly seems to be in the company's future: with a cableco that offers broadband.
    • Just days after FCC opposition killed the Comcast-TWC merger, Legere pointed to the need to counterbalance AT&T (NYSE:T) and Verizon (NYSE:VZ), which combine wireless service with broadband offerings and even TV business.
    • Regulators seem to be opposed to cable-cable deals, and wireless-wireless deals like aborted plans for a Sprint (NYSE:S) merger with T-Mobile -- but Legere notes a natural fit may occur across industries: "The tangential players are touching mobile players in a way that makes a go-to-market strategy."
    • Analyst Craig Moffett urges caution, as regulators might already see the two industries as competition. "Wireless broadband is clearly the FCC's best hope for a counter to cable's wired advantage. They might decide that they aren't ready to allow a combination like that."
    • Possible cable suitors: CMCSA, TWC, CHTR, CVC
    • After earnings today, TMUS -0.3%.
    • Related: T-Mobile US (TMUS) Q1 2015 Results - Earnings Call Transcript (Apr. 28 2015)
    • Previously: T-Mobile grows Q1 revenues 13%, adds 1.8M subscribers (Apr. 28 2015)
    • Previously: T-Mobile keeps fanning Dish partnership flames (Mar. 06 2015)
    | 21 Comments
  • Wed, Apr. 22, 5:35 PM
  • Tue, Feb. 10, 3:39 AM
    • SoftBank (OTCPK:SFTBY) reported a sharp drop in its profit for the October-December quarter this morning, weighed down by the continuing struggles at Sprint (NYSE:S), the U.S. mobile operator it acquired in 2013.
    • "Overall, SoftBank is doing well, but with Sprint...being in a tough situation, I think it will have a long battle to fight," said SoftBank's Chief Executive Masayoshi Son.
    • The telecommunications giant posted FQ3 net income of ¥32.3B ($272.3M), down from ¥93.8B a year earlier.
    | 3 Comments
  • Thu, Feb. 5, 8:57 AM
    • With losses continuing, eyes at Sprint (NYSE:S) were on its subscriber situation, as the company gets further along into aggressive promotions like "cut your bill in half."
    • Sprint (S) got back to postpaid subscriber growth in fiscal Q3 (as it previewed a month ago) with 30K net adds, postpaid gross adds were highest in three years -- and postpaid churn increased Q/Q to 2.3%.
    • Postpaid upgrade rate highest on record at 11.5%, "illustrating a recommitment from existing customers." As it had noted, prepaid net adds of 410K on the platform. Wholesale net adds of 527K up 225K from prior year, and mainly driven by connected devices.
    • As expected, postpaid ARPU of $58.90 is down -- both Y/Y (from $64.11) and sequentially (from $60.58). Prepaid ARPU of $27.12 is down sequentially (from $27.19) but up from prior year's $26.78.
    • Free cash flow at -$1.83B, compared to prior year's -$2.84B.
    • Adjusted EBITDA Margin was up Y/Y at 15.4% compared to 14.4%, but down from Q3's 19.9%. Adjusted EBITDA was $1.03B.
    • The network is coming along: LTE coverage reached over 270M people -- 125M covered by 2.5 GHz deployment, and 800 MHz voice deployed nationwide.
    • Shares now down 2% premarket.
    • Press Release
    | 10 Comments
  • Thu, Feb. 5, 7:35 AM
    • Sprint (NYSE:S): FQ3 EPS of -$0.60
    • Revenue of $8.97B (-1.9% Y/Y)
    • Shares +2.8% PM.
    • Press Release
    | 10 Comments
  • Wed, Feb. 4, 5:30 PM
  • Thu, Jan. 8, 1:07 AM
    • Sprint (NYSE:S) pre-announces it had 30K postpaid net subscriber adds in FQ3 (calendar Q4). That's a marked improvement from an FQ2 net loss of 272K subs, and no doubt has much to do with Sprint's aggressive promotions during the Marcelo Claure era.
    • Postpaid phone net adds are apparently still negative, but Sprint says they "nearly" turned positive in December. Meanwhile, take rates for Sprint's (subsidy-eliminating) device financing plans rose to 50% during the month.
    • Prepaid net adds rose to 410K in FQ3 from just 35K in FQ2. Wholesale net adds fell to 527K from 827K. Sprint says it had "the highest number of postpaid gross additions in three years," and that postpaid phone gross adds rose 20% Y/Y.
    • Full FQ3 results are due in February. On Wednesday, top low-end rival T-Mobile reported 1.28M Q4 branded postpaid net adds (1.04M phone), and 266K branded prepaid net adds.
    | 7 Comments
  • Nov. 4, 2014, 4:35 AM
    • Troubles at Sprint (NYSE:S) has forced SoftBank (OTCPK:SFTBY) to slash its operating profit forecast, which it now expects to be ¥900B ($7.9B) in the 12 months through March 2015, 10% down from the ¥1T profit it previously estimated.
    • The warning came as SoftBank reported that its second-quarter operating profit fell 23%.
    • Yesterday, Sprint slashed its full-year adjusted EBITDA guidance to $5.8B-$5.9B from $6.7B-$6.9B and announced that it was cutting another 2K jobs.
    | Comment!
  • Nov. 3, 2014, 5:13 PM
    • Along with its FQ2 results, Sprint (NYSE:S) announces it's cutting another 2K jobs, and is "targeting $1.5 billion of annualized cost reductions compared to 2014 spending levels." The carrier announced a month ago it's launching a new "workforce reduction plan;" its headcount is around 36K.
    • Sprint has also slashed its full-year capex guidance by ~$1B to less than $6B; it announced a cut of similar size three months ago. The company was previously (at SoftBank's urging) spending aggressively in an attempt to narrow Verizon/AT&T's 4G coverage leads.
    • Though its FQ2 numbers are generally downbeat, Sprint asserts the price cuts and promos launched since Marcelo Claure took over as CEO are bearing fruit. Postpaid phone gross adds rose Y/Y in September, the first time they did so in 2014 - the iPhone 6 launch likely helped. Sprint also claims its postpaid phone net losses fell by 60% during the month.
    • S -6.5% AH. FQ2 results, guidance/details
    | 7 Comments
  • Nov. 3, 2014, 4:30 PM
    • Not counting transactions, Sprint (NYSE:S) lost 272K postpaid subs in FQ2, lowering its total base to 29.5M. The loss is bigger than FQ1's 181K, and points to further share loss to T-Mobile, Verizon, and AT&T.
    • 35K prepaid subs were added, a turnaround from FQ1's 542K decline. The base stands at 14.8M. Wholesale/affiliate net adds totaled 827K, better than FQ1's 530K and growing the base to 9.7M.
    • Postpaid phone net losses totaled 500K, more than offsetting 261K (lower-ARPU) tablet net adds. Other device net losses amounted to 33K. Postpaid churn was 2.18%, up from 2.05% in Q2 and 1.99% a year ago. ARPU fell to $60.58 from $62.07 in Q2 and $64.24.
    • Wireless service revenue fell 5% Y/Y to $6.76B. Equipment revenue rose 46% to $1.04B. With the help of cost cuts, adjusted EBITDA margin rose 180 bps to 18.6%, driving a 14% increase in wireless adjusted EBITDA to $1.37B.
    • Wireline revenue fell 19% Y/Y to $708M. The segment had just $27M in adjusted EBITDA.
    • Sprint (S) has slashed its full-year adjusted EBITDA guidance to $5.8B-$5.9B from $6.7B-$6.9B. The carrier cites both postpaid phone customer losses and (amid rising promotional activity) "increased selling costs." Net debt totaled $27B at quarter's end.
    • The selloff Sprint has seen since its FQ1 report appears to be limiting Sprint's post-earnings decline.
    • FQ2 results, PR
    | Comment!
  • Nov. 3, 2014, 4:06 PM
    • Sprint (NYSE:S): FQ2 EPS of -$0.19 misses by $0.13.
    • Revenue of $8.5B (+9.7% Y/Y)
    • Shares -7.9%.
    • Press Release
    | 6 Comments
  • Nov. 2, 2014, 5:30 PM
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Company Description
Sprint Corp is a communications company offering wireless and wireline communications products and services to individual consumers, businesses, government subscribers and resellers.