CTBB FY 2022 Earnings Report — Qwest Corp. NT Revenue & Financial Results | Market Cap Arena

Qwest Corp. NTCTBB

FY 2022 Earnings

Reported February 23, 2023

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2022	Prior Q	FY 2021	QoQ Change	YoY Change
Revenue	$6.4B	—	$7.0B	—	-7.2%
Op. Income	$2.8B	—	$3.1B	—	-11.4%
Gross Margin	74.9%	—	75.6%	—	-0.7pp
Net Margin	29.8%	—	30.3%	—	-0.6pp
EPS (Diluted)	$0.00	—	$0.00	—	NaN%
Free Cash Flow	$1.8B	—	$2.2B	—	-20.5%

Revenue Flow

Item	Amount
REVENUE	$6.4B
Cost of Revenue	$1.6B
GROSS PROFIT	$4.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.2B
Other Expenses	$860M
Operating Expenses	$2.1B
Cost & Expenses	$3.7B
OPERATING INCOME	$2.8B
Interest Income	$0
Interest Expense	$172M
Other Income/Expenses	-$165M
INCOME BEFORE TAX	$2.6B
Income Tax Expense	$671M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$860M
EBIT	$2.8B
EBITDA	$3.6B
EPS	$0
EPS Diluted	$0

Income Statement

Item	Amount
REVENUE	$6.4B
Cost of Revenue	$1.6B
GROSS PROFIT	$4.8B
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$1.2B
Other Expenses	$860M
Operating Expenses	$2.1B
Cost & Expenses	$3.7B
OPERATING INCOME	$2.8B
Interest Income	$0
Interest Expense	$172M
Other Income/Expenses	-$165M
INCOME BEFORE TAX	$2.6B
Income Tax Expense	$671M
Net Income from Continuing Ops	$1.9B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.9B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.9B
D&A	$860M
EBIT	$2.8B
EBITDA	$3.6B
EPS	$0
EPS Diluted	$0

Cash Flow Statement

Item	Amount
Net Income	$1.9B
Depreciation & Amortization	$860M
Stock-Based Compensation	$0
Deferred Income Tax	$0
Other Non-Cash Items	$59M
Change in Working Capital	-$212M
OPERATING CASH FLOW	$2.6B
Capital Expenditure	-$849M
Acquisitions (Net)	$0
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$500M
NET CASH FROM INVESTING	-$1.3B
Net Debt Issuance	-$1M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$1.3B
NET CASH FROM FINANCING	-$1.3B
FREE CASH FLOW	$1.8B
Net Change in Cash	$6M

Balance Sheet

Item	Amount
Cash & Equivalents	$8M
Short-Term Investments	$0
Net Receivables	$307M
Inventory	$0
Other Current Assets	$683M
TOTAL CURRENT ASSETS	$1.0B
PP&E (Net)	$8.3B
Goodwill	$9.4B
Intangible Assets	$138M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$73M
TOTAL NON-CURRENT ASSETS	$17.9B
TOTAL ASSETS	$19.0B
Account Payables	$231M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$365M
TOTAL CURRENT LIABILITIES	$746M
Long-Term Debt	$2.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$2.4B
TOTAL NON-CURRENT LIABILITIES	$4.6B
TOTAL LIABILITIES	$5.4B
Common Stock	$10.1B
Additional Paid-In Capital	$0
Retained Earnings	$3.5B
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$13.6B
Minority Interest	$0
TOTAL EQUITY	$13.6B
TOTAL LIABILITIES & EQUITY	$19.0B
Total Debt	$2.2B
Net Debt	$2.2B