WASHINGTON (dpa-AFX) - CenturyLink, Inc. (CTL) announced the company anticipates lower operating revenues and core revenues in 2017 compared to 2016 due to expected legacy revenue declines more than offsetting anticipated increases in strategic revenue. Excluding special items, the company targets: operating revenues of $17.05 to $17.3 billion; core revenues of $15.25 to $15.5 billion; and adjusted EPS of $2.10 to $2.30.
The company said its free cash flow in 2017 is expected to decline from 2016 due to the lower level of operating cash flow and an increase in cash income taxes for the year, partially offset by lower capital expenditures. Free cash flow is targeted to be in a range of $1.55 to $1.75 billion for the fiscal year.
Excluding items, CenturyLink's adjusted net income for fourth quarter 2016 was $292 million compared to adjusted net income of $434 million in fourth quarter 2015. Fourth quarter adjusted EPS was $0.54 compared to $0.80 in the year-ago period. Operating revenues were $4.29 billion compared to $4.48 billion, prior year, as the declines in legacy voice and low-bandwidth data services revenues were partially offset by growth in strategic revenues.
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