DALLAS, March 12,
2024 /CNW/ -- Tune in at 1:00 p.m. ET for a
fireside chat with our chief financial officer, where he will cover
AT&T's recent progress on its multiyear growth strategy.
Key Takeaways:
- AT&T continues to make progress on its sustainable,
long-term growth strategy and remains on track to meet all of its
financial guidance
- The company continues to see healthy demand for world-class 5G
and fiber connectivity
- As one of the largest investors in the United States, the company remains focused
on building vital, high-performance network infrastructure for both
mobile and fiber networks. To support these efforts, the company
continues to expect 2024 capital investment in the $21-22 billion range
Pascal Desroches, chief financial
officer, AT&T* (NYSE:T) Inc., will speak today at the
32nd Annual Deutsche Bank Media, Internet and Telecom
Conference where he will provide an update to shareholders. Here
are the key topics Desroches is expected to cover:
The company's focus on leading with world-class connectivity
is working.
- AT&T continues to benefit from the connectivity-focused,
investment-led strategy it laid out more than 3 years ago. By
executing a simple and proven playbook, the company is powering
customer growth, improving returns and enabling additional
investments that are benefiting the business.
- AT&T's simple and consistent go-to-market approach
continues to resonate with customers and has created a sustainable
model for healthy growth and strong cash conversion.
AT&T remains focused on growing durable relationships
with high-quality 5G & fiber customers.
- The company continues to see healthy, but normalizing, wireless
industry trends and is pleased with how the Mobility business is
performing in the first quarter.
- AT&T's fiber build remains on pace to pass 30M+ customer
and business locations by the end of 2025, and the company expects
first-quarter AT&T Fiber net adds in the Consumer Wireline
segment in the 250,000 range. AT&T Fiber penetration rates
continue to exceed initial business case assumptions with net adds
varying from quarter to quarter based on seasonality, market
dynamics and the pace of new fiber locations served.
- AT&T is uniquely positioned to take advantage of its owned
and operated scaled wireless and fiber networks. Unlike others in
the industry, the company realizes economic benefit from both
wireless and fiber when it adds converged subscribers.
- AT&T's connectivity toolkit continues to expand and
includes multiple technologies, including 5G, fiber and the
company's fixed wireless access product – AT&T Internet Air –
which is now available in parts of 95 locations.
AT&T remains on track to achieve its financial
guidance.
- The company remains confident in its ability to deliver on all
of the financial guidance provided with its earnings report in
January 2024.
- AT&T also remains focused on driving incremental
efficiencies with an additional $2 billion+ in run-rate cost
savings by mid-2026.
- The company is on track to reduce net debt and to achieve
net-debt to adjusted EBITDA in the 2.5x range in the first half of
2025. It also plans to continue addressing short-term financing
obligations as it shapes an even more sustainable and ratable free
cash flow cadence.
AT&T continues to invest in the future of America's
connectivity.
- AT&T is focused on becoming America's best high-performance
network provider. AT&T now has the largest wireless network in
North America1, with
mid-band 5G spectrum covering 210 million+ people. Additionally,
AT&T is the nation's largest fiber provider passing 26 million+
consumer and business locations.
- AT&T is making critical investments in its wireless and
fiber future. This includes accelerating the transition to Open
Radio Access Networks (Open RAN), which will enable a more robust
supplier ecosystem, and drive efficiencies and longer-term cost
savings.
- Additionally, based on fiber returns better than initial
assumptions, AT&T sees an opportunity to potentially pass an
incremental 10 to 15 million consumer and business fiber locations
within its existing footprint – assuming similar build parameters
and a regulatory environment that incentivizes investing in
America's robust connectivity needs.
- Over the past five years, from 2019 to 2023, AT&T invested
$145 billion+ in its wireless and wireline networks, including
capital investments and acquisitions of wireless
spectrum2.
Following the event, the webcast of Desroches' conversation will
be available for replay at AT&T Investor Relations.
1 Based on comparison of carrier owned &
operated networks. No AT&T on-net coverage in select countries,
including Canada. Details:
att.com/international. Destinations covered:
att.com/globalcountries. 5G claim based on nationwide GWS drive
test data. GWS conducts paid drive tests for AT&T and uses the
data in its analysis. AT&T 5G requires compatible plan and
device. 5G coverage not available everywhere. Learn more at
att.com/5Gforyou.
2 The years ended December 31,
2020 through 2023 present results from continuing
operations, and the year ended December 31,
2019 includes comparable adjustments to remove capital
expenditures from discontinued operations.
*About AT&T
We help more than 100 million U.S.
families, friends and neighbors, plus nearly 2.5 million
businesses, connect to greater possibility. From the first phone
call 140+ years ago to our 5G wireless and multi-gig internet
offerings today, we @ATT innovate to improve lives. For more
information about AT&T Inc. (NYSE:T), please visit us
at about.att.com. Investors can learn more
at investors.att.com.
Cautionary Language Concerning Forward-Looking
Statements
Information set forth in this news release
contains financial estimates and other forward-looking statements
that are subject to risks and uncertainties, and actual results
might differ materially. A discussion of factors that may affect
future results is contained in AT&T's filings with the
Securities and Exchange Commission. AT&T disclaims any
obligation to update and revise statements contained in this news
release based on new information or otherwise.
This news release may contain certain non-GAAP financial
measures. Reconciliations between the non-GAAP financial measures
and the GAAP financial measures are available on the company's
website at https://investors.att.com.
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SOURCE AT&T