At&t Inc. · NYSE:T
At&t — Q3 2026 Earnings Presentation
14 slides from At&t's earnings presentation, Oct 21, 2026
Slide 1: 2026 3rd Quarter Earnings
2026 3rd Quarter Earnings October 21, 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: Third quarter highlights and business priorities
Consolidated revenue Advanced Connectivity service revenue $32.3B $23.9B Up Up 5.3% 6.1% YoY YoY Business Priorities Consolidated Adjusted EBITDA* Advanced Connectivity EBITDA* up 5.4% YoY up 7.3% YoY • Grow converged customer relationships $5.0B $0.65 42.8% 39M+ • Operate with greater efficiency Fr
Slide 4: Consolidated Results
Consolidated Results Revenue ($B) Adjusted EBITDA* ($B) +3.8% Equipment Service Service Revenue Adj. EBITDA Growth YoY Margin* Best growth in more than 4 years +5.4% Free Cash Flow* ($B) Adjusted EPS* Adj. EBITDA* Growth YoY +20.4% Adjusted EPS* Growth YoY 4 * See end of presentation for non-GAAP re
Slide 5: Advanced Connectivity | Financials
Advanced Connectivity | Financials Revenue ($B) EBITDA* ($B) +6.1% Equipment Service Service Revenue EBITDA Margin* Growth YoY +7.3% Consumer Service Revenue ($B) Business Service Revenue ($B) EBITDA* Growth YoY Other Transitional & Advanced Home Other +2.5% Internet Fiber & Advanced Connectivity Wi
Slide 6: Advanced Connectivity | Metrics
Advanced Connectivity | Metrics Total Fiber Locations Reached* (M) Internet Connections (M) 39M+ Fixed Wireless Total Fiber Consumer Fiber Fiber Locations Reached Penetration* 769K Internet Connections Added Converged Customers* (M) Postpaid Phone Net Adds (K) Record quarter for net adds ~25% increa
Slide 7: Legacy
Legacy Revenue ($B) EBITDA* ($B) EBITDA Margin* >90% Wire Centers Approved to Stop 35%+ 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) • Net Debt* increased ~$23B Vendor sequentially, driven by $10.8B Financing Payments purchase of spectrum licenses from EchoStar Capital • $7B+ of share repurchases YTD Expenditures • FX impacts decreased debt Cash and Cash Equivalents at End of 3Q26 balan
Slide 9: Long-Term Outlook | 2026 – 2028
Long-Term Outlook | 2026 – 2028 Continuing Operations 1 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 upper portion of 3% to 4% range in 2026,
Slide 10: Footnotes
Footnotes EBITDA, EBITDA margin, adjusted EBITDA, and adjusted EBITDA EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin margin are non-GAAP financial measures that are frequently used Dollars in millions 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 by investors and credit rating agencies to provide
Slide 11: Footnotes
Footnotes At the segment level, EBITDA is operating income before Segment EBITDA and EBITDA Margin depreciation and amortization. EBITDA margin is EBITDA divided Dollars in millions 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26 by total operating revenues. Advanced Connectivity Total fiber locations
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 Adjusted Diluted EPS non-operational or non-recurring in nature, including dispositions and merger 3Q25 4Q25 1Q26 2Q26 3Q2
Slide 13: Footnotes
Footnotes Free cash flow is a non-GAAP financial measure that is frequently used by investors and Free Cash Flow credit rating agencies to provide relevant and useful information. Free cash flow is defined as cash from operations minus capital expenditures and cash paid for vendor Dollars in million
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.