DALLAS, Sept. 10,
2024 /PRNewswire/ -- Today, AT&T's chief
executive officer participated in a fireside chat where he covered
recent progress on the Company's multi-year growth strategy.
Key Takeaway:
- AT&T continues to make progress on its sustainable,
long-term growth strategy and remains on track to meet all of its
consolidated financial guidance.
John Stankey,
chief executive officer, AT&T (NYSE:T) Inc., spoke today
at the Goldman Sachs Communacopia + Technology Conference where he
provided an update to shareholders. Topics included:
AT&T remains focused on growing durable converged
relationships with high-quality 5G & fiber customers
- AT&T continues to see healthy, but normalizing, wireless
industry trends and is pleased with how the Mobility business is
performing in the third quarter.
- AT&T Fiber penetration rates continue to exceed initial
business case assumptions with net adds varying from quarter to
quarter based primarily on the pace of new fiber locations passed,
seasonality and marketplace dynamics. Fiber installations are
currently being impacted in a portion of AT&T's footprint from
a work stoppage, but the Company does not expect this to materially
impact third quarter financial performance.
- AT&T's connectivity portfolio 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 204 geographies for consumers
and nationwide for businesses.
AT&T remains on track to achieve its consolidated
financial guidance
- The Company remains confident in its ability to deliver on all
of the consolidated financial guidance shared during its earnings
report in July 2024.
- AT&T is the largest capital investor in U.S. connectivity
infrastructure since 2019. To support its ongoing investment in 5G
and fiber, the Company continues to expect 2024 capital investment
in the $21-22 billion range.
- AT&T also remains focused on driving incremental
efficiencies through its goal of $2 billion+ in run-rate cost
savings by mid-2026.
- The Company is on track 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.
The webcast of Stankey's conversation is available for
replay at AT&T Investor Relations.
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.
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.
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SOURCE AT&T