CenturyLink, Inc. (NYSE:CTL) Q1 2018 Earnings Conference Call - Final Transcript

May 09, 2018 • 05:00 pm ET

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CenturyLink, Inc. (NYSE:CTL) Q1 2018 Earnings Conference Call - Final Transcript

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Presentation
Operator
operator

Ladies and gentlemen, thank you for standing by, and welcome to the CenturyLink First Quarter 2018 Earnings Conference Call.

(Operator Instructions)

As a reminder, this conference is being recorded today, Wednesday, May 9, 2018. It is now my pleasure to turn the conference over to Tony Davis, VP, IR. Please go ahead, sir.

Executive
Tony Davis

Thank you, Franz. Good afternoon, everyone, and welcome to our call today to discuss CenturyLink's first quarter 2018 earnings 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 IR 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'll find our safe harbor language. (Forward-Looking Cautionary Statements) Unless otherwise noted, prior periods are provided on a pro forma basis, assuming both the sale of the legacy CenturyLink data centers and colocation business and the acquisition of Level 3 occurred as of January 1, 2017. Also, adjusted EBITDA, capital expenditures, free cash flow and net debt to adjusted EBITDA discussed on the call today exclude integration-related operating and capital expenses and other special items as footnoted in our press release, earnings presentation and supplemental schedules.

We also ask that you review our disclosure found on this slide as well as in our 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.

Now on 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. Reconciliations between these non-GAAP financial measures and the most comparable 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, CenturyLink's CEO. Joining Glen on today's call are Sunit Patel, CenturyLink's EVP and CFO; and Jeff Storey, CenturyLink's President and COO.

Our call today will be available for telephone replay and webcast replay through July 31, 2018. Anyone listening to a telephone or webcast replay or reading a written transcript of this call should note that all information presented is current only as of today, May 9, 2018, and should be considered valid only as of this date regardless of the date heard or viewed.

And now I'll turn the call over to Glen Post. Glen?

Executive
Glen Post

Thank you, Tony, and thank you all for joining our call to discuss CenturyLink's first quarter 2018 results, our progress in the integration of CenturyLink and Level 3, and our outlooks in our business.

Following my brief remarks today, Sunit will review our first quarter 2018 results with you in more detail and discuss our 2018 business outlook. Following Sunit, Jeff will provide an operations review of our business, including updates in the integration and alignment