MONROE, La.—CenturyTel Inc. said its third-quarter financial results “will meet and possible exceed the range of guidance previously provided to the investment community,” when they are released Oct. 30.
Previous guidance expected third quarter revenue to range from $520 million to $535 million, with earnings per share coming in between 37 cents and 42 cents per share.
CenturyTel also announced it entered into a definitive asset purchase agreement with Verizon Inc. to acquire approximately 675,000 access lines in Alabama and Missouri for $2.1 billion in cash. The deal is expected to close next year.
“This transaction is the largest telephone acquisition in company history,” said Glen Post, III, president and chief executive officer of CenturyTel. “These properties complement our existing Missouri markets while providing CenturyTel a strong market cluster in Alabama.”
