At&t Inc. · NYSE:T
At&t — Q4 2023 Earnings Presentation
13 slides from At&t's earnings presentation, Jan 24, 2024
Slide 1: AT&T Investor Update
AT&T Investor Update January 24, 2024 2023 4th QUARTER EARNINGS © 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 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: 2023 Business Priorities - Accomplishments
2023 Business Priorities - Accomplishments 1 2 3 Grow durable 5G and Effective and efficient in Deliberate capital Fiber relationships everything we do allocation • Sustained success with • Achieved targeted $6B+ in run- • Invested in growth – surpassed consistent and disciplined go- rate cost savin
Slide 4: 2024 Business Priorities
2024 Business Priorities Do it again… © 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. 4
Slide 5: 4Q23 Financial Results
4Q23 Financial Results © 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. 5
Slide 6: 5G and Fiber
Postpaid Phone Subscribers Mobility Service Revenues Mobility EBITDA†3 millions $ in billions $ in billions 69.6 71.3 $16.0 $15.4 $8.4 $7.9 +3.9%* $55.43 $56.23 51.4% 52.2% 5G and 4Q22 4Q23 4Q22 4Q23 4Q22 4Q23 Postpaid phone subscribers * YOY change EBITDA Postpaid phone ARPU EBITDA Service Margin †
Slide 7: 4Q23 Financial Summary
4Q23 Financial Summary Continuing Operations, $ in billions, except EPS Revenues Adjusted EPS†4 Cash from Ops Revenue growth driven by subscriber and ARPU gains Adj. OI Margin†3 Free Cash Flow†2 • Revenues of $32.0B, up 2.2%; 2023 revenues of $122.4, up 1.4% $31.3 $32.0 $11.4 • Mobility service reve
Slide 8: 4Q23 Mobility Results
4Q23 Mobility Results Revenues EBITDA †3 EBITDA Margin †3 $ amounts in billions Mobility $22.4 Strong revenue and EBITDA†3 growth from high-quality subscriber and ARPU gains $21.5 • Wireless service revenues grew ~$600M, up 3.9% • Postpaid phone ARPU of $56.23, up 1.4% $7.9 $8.4 • EBITDA†3 of $8.4B,
Slide 9: 4Q23 Consumer and Business Wireline Results
4Q23 Consumer and Business Wireline Results Revenues EBITDA †3 EBITDA Margin †3 $ amounts in billions Consumer Wireline Revenue and EBITDA†3 growth driven by Fiber adoption, with Fiber revenues up ~22% $3.2 $3.4 • Broadband revenues grew 8.3%, driven by Fiber subscriber and ARPU growth from mix shif
Slide 10: 2024 Financial Guidance
2024 Financial Guidance 2024 Guidance REVENUE GROWTH Wireless Service Revenues 3% range Broadband Revenues 7%+ ADJUSTED EBITDA†1,3 GROWTH 3% range CAPITAL INVESTMENT†5 $21 - $22 billion FREE CASH FLOW†2 $17 - $18 billion 2023 Adjusted EPS†4 $2.41 Organic growth and other $0.06 - $0.16 Higher non-cas
Slide 11: Q&A
Q&A © 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. 11
Slide 12: Notes
1. Notes 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 the Net Debt by the sum of the most recent four qua
Slide 13: Sz AT&T
Sz AT&T