At&t Inc. · NYSE:T
At&t — Q1 2026 Earnings Presentation
14 slides from At&t's earnings presentation, Apr 22, 2026
Slide 1: 2026 1st Quarter Earnings
2026 1st Quarter Earnings April 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: 1Q2026 Highlights
1Q2026 Highlights Accelerating growth $31.5B $2.5B $0.57 Revenue, up Free cash flow*, at the Adjusted EPS*, 2.9% YOY high-end of 1Q26 Up 11.8% YOY Best-ever first guidance range of quarter for Advanced $2.0B-$2.5B Connectivity internet customer net $11.6B 37M+ 42% additions Advanced Total fiber loca
Slide 4: Consolidated Results
Consolidated Results Revenue ($B) Adjusted EBITDA* ($B) +1.4% Equipment Service Service Revenue Adj. EBITDA Growth YoY Margin* +2.3% Free Cash Flow* ($B) Adjusted EPS* Adj. EBITDA* Growth YoY +11.8% 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) +3.6% Equipment Service Service Revenue EBITDA Margin* Growth YoY +5.6% Consumer Service Revenue ($B) Business Service Revenue ($B) EBITDA* Growth YoY Other Transitional & Advanced Home +30bps Internet Other Fiber & Advanced Connectivity W
Slide 6: Advanced Connectivity | Metrics
Advanced Connectivity | Metrics Total Fiber Locations Reached* (M) Internet Connections (M) 37M+ Fixed Wireless Organic Consumer Fiber Penetration* Total Fiber Locations Fiber Reported Reached* Consumer Fiber Penetration* 584K Internet Connections Added; Converged Customers* (M) Postpaid Phone Net A
Slide 7: Legacy
Legacy Revenue ($B) EBITDA* ($B) EBITDA Margin* 85% Wire Centers Approved to Stop 30%+ Wire Centers Approved to Offering Legacy Services Discontinue Providing Legacy Services by late 2026 7 * See end of presentation for non-GAAP reconciliations © 2026 AT&T Intellectual Property. AT&T and the Globe l
Slide 8: Capital Allocation
Capital Allocation Capital Investment* ($B) • Net Debt* increased $9B sequentially partially driven by $12B Vendor Financing Payments mass markets fiber business acquisition in 1Q26 Capital Expenditures • FX impacts decreased debt Cash and Cash Equivalents balance by $0.6B in 1Q26 at End of 1Q26 Net
Slide 9: Long-Term Outlook | 2026 – 2028
Long-Term Outlook | 2026 – 2028 Continuing Operations SERVICE REVENUE Growth in low-single-digit range annually Advanced Connectivity Growth in 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%+ in 2028 Ad
Slide 10: Footnotes
Footnotes EBITDA, EBITDA margin, adjusted EBITDA, and adjusted EBITDA, Adjusted EBITDA and Adjusted EBITDA Margin EBITDA margin are non-GAAP financial measures that Dollars in millions 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 are frequently used by investors and credit rating Income from Continu
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 by total operating revenues. Dollars in millions 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 Advanced Connectivity Total fiber locations
Slide 12: Footnotes
Footnotes Adjusted EPS is calculated by excluding from operating revenues, operating expenses, Adjusted Diluted EPS other income (expenses) and income tax expense, certain significant items that are non-operational or non-recurring in nature, including dispositions and merger 1Q25 2Q25 3Q25 4Q25 1Q2
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 Dollars in millions 1Q25 2Q25 3Q25 4Q25 1Q26 defined as cash from operations minus cash flows related
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.