Level 3 Reports Strong Free Cash Flow in Q1 on Stable Revenue, Net Income
Level 3 Q1 free cash flow rose to $213 million, from $42 million in the year-ago quarter, as revenue and net income were relatively stable, the company said Wednesday. Total revenue rose about 1 percent to $2.05 billion, excluding results…
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from a deconsolidated Venezuelan subsidiary's operations. Net income rose about 1.6 percent to $124 million. Guidance for expected 2016 adjusted EBITDA was slightly raised from 9-12 percent growth to 10-12 percent growth year over year. "Level 3's first quarter results demonstrate the benefit of our emphasis on profitable growth, as evident in our expanding margins and strong Free Cash Flow during the quarter," CEO Jeff Storey said in an earnings release.