AT&T Finance Chief Maintains Guidance During Remarks at Conference
November 14 2018 - 3:53PM
Dow Jones News
By Micah Maidenberg
AT&T Inc. is maintaining its guidance for 2018, CFO John
Stephens said Wednesday at a conference in Barcelona.
The company still anticipates delivering per-share earnings at
the high end of $3.50 for the year, free cash flow at the high end
of $21 billion and $22 billion in capital investments, he said at
the event sponsored by Morgan Stanley.
AT&T also continues to anticipate $2.5 billion run-rate
synergies from its acquisition of Time Warner, now called
WarnerMedia, by 2021. The company also remains focused on cutting
debt, according to Mr. Stephens, and expects to end this year with
$48 billion in debt maturing through 2022, down from $76 billion at
the close of the Time Warner deal.
The Justice Department has appealed the ruling that allowed that
acquisition to move forward. Mr. Stephens said AT&T is working
on the case, with oral arguments scheduled in federal court
December 6.
Meanwhile, AT&T has scheduled a meeting with analysts for
November 29.
Write to Micah Maidenberg at micah.maidenberg@wsj.com
(END) Dow Jones Newswires
November 14, 2018 15:38 ET (20:38 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
AT&T (NYSE:T)
Historical Stock Chart
From Aug 2024 to Sep 2024
AT&T (NYSE:T)
Historical Stock Chart
From Sep 2023 to Sep 2024