CTBB FY 2021 Earnings Report — Qwest Corp. NT Revenue & Financial Results | Market Cap Arena

Qwest Corp. NTCTBB

FY 2021 Earnings

Reported February 24, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2021	Prior Q	FY 2020	QoQ Change	YoY Change
Revenue	$7.0B	—	$7.3B	—	-5.0%
Op. Income	$3.1B	—	$2.7B	—	14.6%
Gross Margin	75.6%	—	73.6%	—	2.0pp
Net Margin	30.3%	—	23.3%	—	7.0pp
EPS (Diluted)	$0.00	—	$0.00	—	NaN%
Free Cash Flow	$2.2B	—	$2.0B	—	12.9%

Revenue Flow

Item	Amount
REVENUE	$7.0B
Cost of Revenue	$1.7B
GROSS PROFIT	$5.3B
R&D Expenses	$0
Selling & Marketing	$24M
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$1.0B
Operating Expenses	$2.1B
Cost & Expenses	$3.8B
OPERATING INCOME	$3.1B
Interest Income	$0
Interest Expense	$286M
Other Income/Expenses	-$292M
INCOME BEFORE TAX	$2.8B
Income Tax Expense	$709M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$1.0B
EBIT	$3.1B
EBITDA	$4.1B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$7.0B
Cost of Revenue	$1.7B
GROSS PROFIT	$5.3B
R&D Expenses	$0
Selling & Marketing	$24M
General & Administrative	$1.1B
SG&A Expenses	$1.1B
Other Expenses	$1.0B
Operating Expenses	$2.1B
Cost & Expenses	$3.8B
OPERATING INCOME	$3.1B
Interest Income	$0
Interest Expense	$286M
Other Income/Expenses	-$292M
INCOME BEFORE TAX	$2.8B
Income Tax Expense	$709M
Net Income from Continuing Ops	$2.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$2.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$2.1B
D&A	$1.0B
EBIT	$3.1B
EBITDA	$4.1B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$2.1B
Depreciation & Amortization	$1.0B
Stock-Based Compensation	$15M
Deferred Income Tax	$0
Other Non-Cash Items	$67M
Change in Working Capital	-$165M
OPERATING CASH FLOW	$3.0B
Capital Expenditure	-$797M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$46M
NET CASH FROM INVESTING	-$751M
Net Debt Issuance	-$1.2B
Common Stock Repurchased	$0
Common Dividends Paid	-$570M
Other Financing Activities	-$537M
NET CASH FROM FINANCING	-$2.3B
FREE CASH FLOW	$2.2B
Net Change in Cash	-$11M

Balance Sheet

Item	Amount
Cash & Equivalents	$2M
Short-Term Investments	$0
Net Receivables	$265M
Inventory	$0
Other Current Assets	$173M
TOTAL CURRENT ASSETS	$490M
PP&E (Net)	$8.2B
Goodwill	$9.4B
Intangible Assets	$199M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$72M
TOTAL NON-CURRENT ASSETS	$17.9B
TOTAL ASSETS	$18.4B
Account Payables	$206M
Short-Term Debt	$1.2B
Deferred Revenue	$0
Other Current Liabilities	$416M
TOTAL CURRENT LIABILITIES	$2.0B
Long-Term Debt	$2.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2.5B
TOTAL NON-CURRENT LIABILITIES	$4.7B
TOTAL LIABILITIES	$6.7B
Common Stock	$10.1B
Additional Paid-In Capital	$0
Retained Earnings	$1.6B
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$11.6B
Minority Interest	$0
TOTAL EQUITY	$11.6B
TOTAL LIABILITIES & EQUITY	$18.4B
Total Debt	$3.5B
Net Debt	$3.5B