At&t Inc. · NYSE:T
At&t — Q1 2024 Earnings Presentation
15 slides from At&t's earnings presentation, Apr 24, 2024
Slide 1: 2024 1st Quarter Earnings
2024 1st Quarter Earnings April 24, 2024 © 2024 AT&T Intellectual Property. AT&T, and globe logo are registered trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. 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 fut
Slide 3: 2024 Business Priorities
2024 Business Priorities 1 Grow durable 5G and 2 Effective and efficient 3Deliberate capital Fiber relationships in everything we do allocation • Execute consistent and disciplined • Achieve incremental run-rate cost • Invest for long-term growth – 5G go-to-market strategy with a savings target of $
Slide 4: 5G and Fiber
Postpaid Phone Subscribers Mobility Service Revenues Mobility EBITDA†2 millions $ in billions $ in billions 71.6 $16.0 $9.0 $15.5 70.0 $8.4 +3.3%* +7.0%* $55.05 $55.57 54.1% 56.0% 5G and 1Q23 1Q24 1Q23 1Q24 1Q23 1Q24 Postpaid phone subscribers EBITDA Postpaid phone ARPU EBITDA Service Margin †2 AT&T
Slide 5: Operating Momentum
Operating Momentum AT&T led Mobility service revenue AT&T led the industry in postpaid growth in 2023 phone churn 11 of last 13 quarters Non-equipment wireless revenue growth (YOY)†3 Wireless postpaid phone churn* 4.4% AT&T 3.2% 1.3% 0.72% AT&T 2021 2022 2023 1Q21 1Q24 *Consensus estimates used for
Slide 6: 1Q2024 Financial Results
1Q2024 Financial Results 6 © 2024 AT&T Intellectual Property. AT&T and globe logo are registered trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies.
Slide 7: 1Q24 Financial Summary
1Q24 Financial Summary $ in billions, except EPS Service revenue growth from subscriber and ARPU gains were offset by lower equipment revenues Revenues Adjusted EPS†5 Cash from Ops • Revenues of $30.0B, with equipment revenues down $0.3B Adj. EBITDA†2 Adj. OI Margin†2 Free Cash Flow†6 • Mobility ser
Slide 8: 1Q24 Mobility Results
1Q24 Mobility Results Revenues EBITDA †2 EBITDA Margin †2 Mobility $ in billions Strong service revenue and EBITDA growth from high quality, durable subscribers $20.6 $20.6 • Wireless service revenues grew $0.5B, up 3.3%, including impact from one-time customer credits • Postpaid phone ARPU of $55.5
Slide 9: 1Q24 Consumer Wireline Results
1Q24 Consumer Wireline Results Revenues EBITDA †2 EBITDA Margin †2 Consumer Wireline $ in billions Revenue and EBITDA growth driven by fiber, with fiber revenues up 19.5% $3.4 • Broadband revenues grew 7.7%, driven by fiber subscriber and ARPU growth $3.2 • Fiber ARPU of $68.61, up 4.1%, with intake
Slide 10: 1Q24 Business Wireline Results
1Q24 Business Wireline Results Revenues EBITDA †2 EBITDA Margin †2 Business Wireline $ in billions Business Wireline results reflect accelerated product transition • Transition of legacy wireline services continued, with incremental declines in legacy voice revenues $5.3 $4.9 • Efficiency initiative
Slide 11: 1Q24 Capital Allocation Update
1Q24 Capital Allocation Update Capital Investment†7 Investing for growth $ in billions $6.4 • Capital Investment†7 was $4.6B, down $1.8B with $1.3B lower vendor financing payments $2.1 $4.6 • On track for $21 - $22B of Capital Investment†7, with higher capital expenditures and lower $0.8 vendor fina
Slide 12: 2024 Financial Guidance
2024 Financial Guidance 2024 Guidance* REVENUE GROWTH Wireless Service Revenues 3% range Broadband Revenues 7%+ ADJUSTED EBITDA†2 GROWTH 3% range CAPITAL INVESTMENT†7 $21 - $22 billion FREE CASH FLOW†6 $17 - $18 billion ADJUSTED EPS†5 $2.15 - $2.25 *All financial guidance on this slide is unchanged
Slide 13: Q&A
Q&A 13 © 2024 AT&T Intellectual Property. AT&T and globe logo are registered trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies.
Slide 14: Notes
Notes 1. Net debt-to-adjusted EBITDA ratios are non-GAAP financial measures that are frequently used by investors and credit rating agencies to provide relevant and useful information. Our net debt-to-adjusted EBITDA ratio is calculated by dividing net debt by the sum of the most recent four quarter
Slide 15: AT&T
SS AT&T