CenturyLink, Inc. (NYSE:CTL) Q4 2015 Earnings Conference Call - Final Transcript

Feb 10, 2016 • 05:00 pm ET


CenturyLink, Inc. (NYSE:CTL) Q4 2015 Earnings Conference Call - Final Transcript


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Good day, ladies and gentlemen. Welcome to CenturyLink's Fourth Quarter 2015 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Mr. Tony Davis, Vice President of Investor Relations. Mr. Davis, you may begin.

Tony Davis

Thank you, Saeed. Good afternoon, everyone, and welcome to our call today to discuss CenturyLink's fourth quarter 2015 results, released earlier this afternoon. The slide presentation we will be reviewing during the prepared remarks portion of today's call is available in the Investor Relations section of our corporate website at ir.centurylink.com. At the conclusion of our prepared remarks today, we will open the call for Q&A.

As you move to slide 2, you will find our Safe Harbor language. We will be making certain forward-looking statements today, particularly as they pertain to guidance for first quarter and full year 2016 and other outlooks on our business. We ask that you review our disclosure found on this slide, as well as in our press release, and in our SEC filings, which describe factors that could cause our actual results to differ materially from those projected by us in our forward-looking statements.

Moving to slide 3, we ask that you also note that our earnings release issued earlier this afternoon and the slide presentation and remarks made during this call, contain certain non-GAAP financial measures. Reconciliation between the non-GAAP financial measures and the GAAP financial measures are available in our earnings release and on our website at ir.centurylink.com.

Now, moving to slide 4, your host for today's call is Glen Post, Chief Executive Officer and President of CenturyLink. Joining Glen today will be Stewart Ewing, CenturyLink's Chief Financial Officer. Our call today will be available for telephone replay through February 18, 2016, and the webcast replay of our call will be available through March 3, 2016.

Anyone listening to a taped or webcast replay or reading a written transcript of this call should note that all information presented is current only as of February 10, 2016, and should be considered valid only as of this date, regardless of the date heard or viewed.

Moving now to slide 5, I will now turn the call over to Glen Post. Glen?

Glen Post

Thank you, Tony, and thank you for joining our call today as we discuss our third quarter 2015 results of operations and provide guidance and outlook for the remainder of 2015. Thank you, Tony, and thank you for joining our call today to discuss our fourth quarter results, make a few remarks about 2015 and discussed 2016 objectives and our guidance.

Beginning on slide 6, 2015 was really a year of two very different halves for CenturyLink's. In the first half, our sales and revenue trends were softer than we had anticipated. Entering the year during the 2014, as part of our ongoing review of our business, we had identified an opportunity to improve the structure of our sales force and we begin to implement this change in late 2014.

Our sales organization realignment was