Verizon touts strong balance sheet and few bond maturities until 2021

By Devika Patel

Knoxville, Tenn., April 24 – Verizon Communications Inc. has a strong balance sheet despite current market conditions and the company has few unsecured bond maturities through the end of 2021.

“Our balance sheet continues to be strong with very low unsecured bond maturities through the end of 2021,” executive vice president and chief financial officer Matthew D. Ellis said on the company’s first quarter ended March 31 earnings conference call on Friday.

The company ended first-quarter 2020 with $7 billion of cash on hand, an increase of $4.5 billion from year-end 2019.

As of the end of the quarter, the company’s net unsecured debt to adjusted EBITDA ratio was 2.1x.

Verizon is a New York-based telecommunications company.

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