At&t Inc. · NYSE:T
At&t — Q2 2023 Earnings Presentation
13 slides from At&t's earnings presentation, Jul 26, 2023
Slide 1: AT&T Investor Update
AT&T Investor Update July 26, 2023 2023 2nd QUARTER EARNINGS © 2023 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
2023 Business Priorities 1 2 3 Grow durable 5G and Effective and efficient in Deliberate capital Fiber relationships everything we do allocation • Execute consistent and • Achieve additional cost savings; • Invest for long-term growth – disciplined go-to-market expect an incremental $2B+ in 5G and f
Slide 4: Progression to Sustainable Growth
Progression to Sustainable Growth • Since 2Q20, added more than 8 million postpaid phones and grew AT&T Fiber subscribers by 3.4 million Grow durable 5G and • Increased quarterly wireless service revenues by $2B+ since 2Q20 and Fiber relationships achieved industry-leading churn • Doubled quarterly
Slide 5: 2Q23 Financial Results
2Q23 Financial Results © 2023 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†1 millions $ in billions $ in billions 70.3 $15.7 68.3 $15.0 $8.7 $8.1 +4.9%* +4.6%* $54.81 $55.63 53.8% 55.5% 5G and 2Q22 2Q23 2Q22 2Q23 2Q22 2Q23 Postpaid phone subscribers EBITDA * YOY change EBITDA Service Margin †1 Postpaid ph
Slide 7: 2Q23 Financial Summary
2Q23 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†1 Free Cash Flow†5 • Revenues of $29.9B, up $0.3B $9.9 $29.9 • Mobility service revenue growth of 4.9% $29.6 $7.7 $0.65 $0.6
Slide 8: 2Q23 Mobility Results
2Q23 Mobility Results Revenues EBITDA †1 EBITDA Margin †1 $ amounts in billions Mobility $20.3 Strong revenue and EBITDA†1 growth from high-quality subscriber and ARPU gains $19.9 • Wireless service revenues grew $741M, up 4.9% • EBITDA†1 of $8.7B, up 8.3% $8.1 $8.7 • Postpaid phone ARPU of $55.63,
Slide 9: 2Q23 Consumer and Business Wireline Results
2Q23 Consumer and Business Wireline Results Revenues EBITDA †1 EBITDA Margin †1 $ amounts in billions Consumer Wireline Revenue and EBITDA†1 growth driven by Fiber adoption, with Fiber revenues up 28% $3.2 $3.3 • Broadband revenues grew 7.0%, with Fiber subscriber growth and mix shift to Fiber • Fib
Slide 10: Capital Allocation Update
2Q23 Capital Allocation Update Net debt†2 – change since 2Q22 (TTM) Expect to reduce net debt†2 by ~$4B by end of $ amounts in billions 2023, with net debt-to-adjusted EBITDA of 3.0x†7 $132 $15.2 $1.5 $132 • Expect free cash flow†5 of $16B or better for 2023, $4 indicating about $11B in second half
Slide 11: Q&A
Q&A © 2022 2023 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
Notes 1. EBITDA, EBITDA margin, EBITDA service margin, Adjusted EBITDA margin and adjusted operating income margin are non-GAAP financial measures that are frequently used by investors and credit rating agencies to provide relevant and useful information. Reconciliations of these non-GAAP financial
Slide 13: AT&T
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