At&t Inc. · NYSE:T
At&t — Q2 2024 Earnings Presentation
15 slides from At&t's earnings presentation, Jul 24, 2024
Slide 1: 2024 2nd Quarter Earnings
2024 2nd Quarter Earnings July 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 71.9 $16.3 $9.2 $15.7 $8.7 70.3 +3.4%* +5.3%* 55.5% 56.5% $55.63 $56.42 5G and 2Q23 2Q24 2Q23 2Q24 2Q23 2Q24 Postpaid phone subscribers EBITDA Postpaid phone ARPU EBITDA Service Margin†2 AT&T
Slide 5: Convergence Opportunity
Convergence Opportunity Expanding availability of AT&T Fiber increases opportunity for converged service adoption % AT&T Fiber subscribers 39.5% 39.2% with AT&T Mobility*1,2 38.8% 38.3% 38.0% 37.8% 37.4% 36.4% 36.6% 36.0% 35.3% 35.4% 35.4% 34.9% 8.6 8.8 Total AT&T Fiber subscribers 8.0 8.3 in millio
Slide 6: 2Q2024 Financial Results
2Q2024 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: 2Q24 Financial Summary
2Q24 Financial Summary $ in billions, except EPS Service revenue growth from subscriber and ARPU gains offset by lower equipment revenues Revenues Adjusted EPS†3 Cash from Ops • Revenues of $29.8B, with equipment revenues down $0.3B Adj. EBITDA†2 Adj. OI Margin†2 Free Cash Flow†4 • Mobility service
Slide 8: 2Q24 Mobility Results
2Q24 Mobility Results Revenues EBITDA†2 EBITDA Margin †2 Mobility $ in billions Strong service revenue and EBITDA growth from high-quality, durable subscribers $20.3 $20.5 • Wireless service revenues grew $0.5B, up 3.4% • Postpaid phone ARPU of $56.42, up 1.4% $8.7 $9.2 • EBITDA†2 of $9.2B, up 5.3%;
Slide 9: 2Q24 Consumer Wireline Results
2Q24 Consumer Wireline Results Revenues EBITDA †2 EBITDA Margin †2 Consumer Wireline $ in billions Revenue and EBITDA growth driven by fiber, with fiber revenues up ~18% $3.3 • Broadband revenues grew 7.0%, driven by fiber subscriber and ARPU growth $3.3 • Fiber ARPU of $69.00, up 3.4%, with intake
Slide 10: 2Q24 Business Wireline Results
2Q24 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 ongoing declines in legacy voice and data $5.3 $4.8 • EBITDA†2 trends improved
Slide 11: 2Q24 Capital Allocation Update
2Q24 Capital Allocation Update Capital Investment†5 Investing for growth $ in billions $5.9 • Capital Investment†5 was $4.9B, down $1.0B driven by lower vendor financing payments $4.9 $1.6 $0.6 • On track for $21 - $22B of Capital Investment†5 in 2024, with higher capital expenditures and lower vend
Slide 12: 2024 Financial Guidance
2024 Financial Guidance 2024 Guidance* REVENUE GROWTH Wireless Service Revenues 3% range Broadband Revenues 7%+ ADJUSTED EBITDA†1,2 GROWTH 3% range CAPITAL INVESTMENT†5 $21 - $22 billion FREE CASH FLOW†4 $17 - $18 billion ADJUSTED EPS†3 $2.15 - $2.25 *All financial guidance on this slide is unchange
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: SS AT&T
SS AT&T