AT&T expects significant growth over the next three years, driven by the increasing demand for 5G and fiber services. The company aims to expand its fiber broadband network to more than 50 million locations by 2029, while exiting its legacy copper network operations.
In a statement, AT&T CEO John Stankey said that the company has achieved durable and profitable subscriber growth over the past four years. This has led to attractive returns on network investment and strengthened its balance sheet.
AT&T is also making plans for its 5G wireless network. The company expects to complete the modernization of its 5G network with open technology by 2027, covering more than 300 million people. This will enable super-fast download speeds and serve as a platform for new product innovation.
The company has revised its earnings outlook, now expecting $2.20-$2.25 per share in 2024, compared to the previous range of $2.15-$2.25 per share. Analysts polled by FactSet expect full-year earnings of $2.21 per share.
AT&T predicts annual growth of approximately $1 billion in free cash flow, resulting in more than $18 billion in free cash flow by 2027. The company also plans to repurchase up to $10 billion worth of shares, with the initial phase expected to complete by the end of 2026.
Source: https://finance.yahoo.com/news/t-sees-earnings-growth-over-142530049.html