At&t Inc. · NYSE:T
At&t — Q2 2026 Earnings Presentation
14 slides from At&t's earnings presentation, Jul 22, 2026
Slide 1: 2026 2nd Quarter Earnings
2026 2nd Quarter Earnings July 22, 2026 © 2026 AT&T Intellectual Property. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property. All other marks are the property of their respective owners.
Slide 2: Cautionary Language Concerning Forward-looking Statements
Cautionary Language Concerning Forward-looking Statements Information set forth in this presentation 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 futu
Slide 3: 2Q2026 Highlights
2Q2026 Highlights Accelerating growth Consolidated revenue Advanced Connectivity service revenue $31.6B $23.5B Up Up 2.3% 5.1% 1M+ YoY YoY Consolidated Adjusted EBITDA* Advanced Connectivity EBITDA* up 5.2% YoY up 8.0% YoY Advanced Connectivity net adds from fiber, fixed wireless, and $4.7B $0.65 42
Slide 4: Consolidated Results
Consolidated Results Revenue ($B) Adjusted EBITDA* ($B) +2.7% Equipment Service Service Revenue Adj. EBITDA Growth YoY Margin* +5.2% Free Cash Flow* ($B) Adjusted EPS* Adj. EBITDA* Growth YoY +20.4% Adjusted EPS* Growth YoY 4 * See end of presentation for non-GAAP reconciliations © 2026 AT&T Intelle
Slide 5: Advanced Connectivity | Financials
Advanced Connectivity | Financials Revenue ($B) EBITDA* ($B) +5.1% Equipment Service Service Revenue EBITDA Margin* Growth YoY +8.0% Consumer Service Revenue ($B) Business Service Revenue ($B) EBITDA* Growth YoY Other Advanced Home Transitional & +150bps Internet Other Fiber & Advanced Connectivity
Slide 6: Advanced Connectivity | Metrics
Advanced Connectivity | Metrics 1M+ Total Fiber Locations Reached* (M) Internet Connections (M) Fixed Wireless Organic Net Adds from Fiber, Fixed Wireless, Consumer Fiber and Postpaid Phone Penetration* Fiber Reported Consumer Fiber Penetration* 646K Internet Connections Added Converged Customers* (
Slide 7: Legacy
Legacy Revenue ($B) EBITDA* ($B) EBITDA Margin* >85% Wire Centers Approved to Stop 30%+ Wire Centers Approved to Selling Legacy Services Discontinue Providing Legacy Services, effective by late 2026 7 * See end of presentation for non-GAAP reconciliations © 2026 AT&T Intellectual Property. AT&T and
Slide 8: Capital Allocation
Capital Allocation Capital Investment* ($B) $17.6B Vendor Financing Payments • FX impacts decreased debt balance by $0.3B ($0.9B YTD) Capital Expenditures Cash and Cash Equivalents at End of 2Q26 Net Debt* & Leverage ($B) Shareholder Returns ($B) $4.1B Share Repurchases Under 2024 Authorization Net
Slide 9: Long-Term Outlook | 2026 – 2028
Long-Term Outlook | 2026 – 2028 Continuing Operations SERVICE REVENUE Growth in the low-single-digit range annually Advanced Connectivity Growth in the mid-single-digit range annually, including expected growth of 5%+ in 2026 ADJUSTED EBITDA* Growth in the 3% to 4% range in 2026, improving to 5% or
Slide 10: Footnotes
Footnotes EBITDA, EBITDA margin, adjusted EBITDA, and adjusted EBITDA margin are non-GAAP financial measures that are frequently used by investors and credit rating agencies to provide relevant and useful information. Adjusted EBITDA is calculated by excluding from operating revenues and operating e
Slide 11: Footnotes
Footnotes At the segment level, EBITDA is operating income before depreciation and amortization. EBITDA margin is EBITDA divided by total operating revenues. Total fiber locations reached: Total consumer and business locations reached with fiber represents the sum of: (1) AT&T Owned and Operated loc
Slide 12: Footnotes
Footnotes Adjusted EPS is calculated by excluding from operating revenues, operating expenses, other income (expenses) and income tax expense, certain significant items that are non-operational or non-recurring in nature, including dispositions and merger integration and transaction costs, actuarial
Slide 13: Footnotes
Footnotes Free cash flow is a non-GAAP financial measure that is frequently used by investors and credit rating agencies to provide relevant and useful information. Free cash flow is defined as cash from operations minus cash flows related to our DIRECTV equity method investment that was sold in Jul
Slide 14: © 2026 AT&T Intellectual Property. AT&T and the Globe logo are registered trademarks of
© 2026 AT&T Intellectual Property. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property. All other marks are the property of their respective owners.