At&t Inc. · NYSE:T
At&t — Q3 2024 Earnings Presentation
16 slides from At&t's earnings presentation, Oct 23, 2024
Slide 1: 2024 3rd Quarter Earnings
2024 3rd Quarter Earnings October 23, 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 70.8 72.3 $16.5 $9.5 $15.9 $8.9 +4.0%* +6.7%* $55.99 $57.07 57.4% 55.9% 5G and 3Q23 3Q24 3Q23 3Q24 3Q23 3Q24 Postpaid phone subscribers EBITDA Postpaid phone ARPU EBITDA Service Margin†2 AT&T
Slide 5: With FirstNet, AT&T makes public safety's mission the priority
With FirstNet, AT&T makes public safety’s mission the priority AT&T’s Network Disaster Recovery program rapidly deployed portable assets to restore connectivity 5 © 2024 AT&T Intellectual Property. AT&T and globe logo are registered trademarks and service marks of AT&T Intellectual Property and/or A
Slide 6: Convergence Opportunity
Convergence Opportunity Expanding availability of AT&T Fiber increases opportunity for converged service adoption % AT&T Fiber subscribers 39.5% 39.7% 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% 8.8 9.0 Total AT&T Fiber subscribers 8.3 8.6 in
Slide 7: 3Q2024 Financial Results
3Q2024 Financial Results 7 © 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 8: 3Q24 Financial Summary
3Q24 Financial Summary $ in billions, except EPS Service revenue growth from subscriber & ARPU gains more than offset by lower equipment revenues Revenues Adjusted EPS†3 Cash from Ops • Revenues of $30.2B, with equipment revenues down $0.2B Adj. EBITDA†2 Adj. OI Margin†2 Free Cash Flow†4 • Mobility
Slide 9: 3Q24 Mobility Results
3Q24 Mobility Results Revenues EBITDA †2 EBITDA Margin †2 Mobility $ in billions Strong service revenue and EBITDA growth from high-quality, durable subscribers $20.7 $21.1 • Wireless service revenues grew $0.6B, up 4.0% • Postpaid phone ARPU of $57.07, up 1.9% $8.9 $9.5 • EBITDA†2 of $9.5B, up 6.7%
Slide 10: 3Q24 Consumer Wireline Results
3Q24 Consumer Wireline Results Revenues EBITDA †2 EBITDA Margin †2 Consumer Wireline $ in billions Revenue and EBITDA growth driven by fiber, with fiber revenues up ~17% $3.3 $3.4 • Broadband revenues grew 6.4%, driven by fiber subscriber and ARPU growth • Fiber ARPU of $70.36, up 3.2%, with intake
Slide 11: 3Q24 Business Wireline Results
3Q24 Business Wireline Results Revenues EBITDA †2 EBITDA Margin †2 Business Wireline $ in billions Business Wireline results reflect accelerated product transition $5.2 • Transition of legacy wireline services continued, with ongoing declines in legacy voice and data revenues $4.6 • EBITDA†2 trends
Slide 12: 3Q24 Capital Allocation Update
3Q24 Capital Allocation Update Capital Investment†5 Investing for growth $ in billions $5.6 $5.5 • Capital Investment†5 of $5.5B, with higher capital expenditures and lower vendor financing payments $1.0 $0.2 Strengthening the balance sheet • Reduced net debt†1 by $2.9B YOY and $1.1B sequentially $4
Slide 13: 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 14: Q&A
Q&A 14 © 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 15: 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 16: SS AT&T
SS AT&T