Dallas, January 4, 2023 /PR Newswire/ — Pascal Desroches,CFO, AT&T* Ltd. (New York Stock Exchange: T) gave an update to shareholders today at the Citi Media & Entertainment Conference.
Deroches pointed out that:
- The company remains focused on driving strong growth in 5G and fiber services, driven by high demand for connectivity. While the company doesn’t believe the level of growth in the wireless industry will reflect what he experienced in 2021 or early 2022, Desroches indicated that demand remains healthy. The company continues to see strong demand levels due to its consistent go-to-market approach, despite choosing to advertise less than its peers during the recent holiday season.
- Desroches for 2023 He said he expects the company to continue to focus on expanding customer relationships in a disciplined manner, aggressively cutting costs and prudently allocating capital. He said 2022 and 2023 are expected to be peak years for capex as the company continues to invest in 5G and fiber. and&T. remains focused on meeting its net debt to adjusted EBITDA target of 2.5x and until then it plans to use post-dividend cash to reduce its debt.
- AT&T will provide detailed guidance for 2023 when it announces earnings later this month. Desroches It indicated that it expects free cash flow growth in 2023 to be supported by increased wireless revenue from a growing postpaid phone base. ARPU; increase in fiber optic subscribers, ARPU and revenue; and the benefits of ongoing cost transformation initiatives are also expected to increasingly support the company’s profitability. Expected offsets to these trends include an expected increase in cash taxes and a decrease in government cash distributions. direct tv.
- Desroches reiterated AT&T’s commitment to target more than 30 million fiber locations, including business locations, by the end of 2025. The company completed the third quarter of 2022 and is now able to serve 18.5 million consumer locations and nearly 3 million enterprise customer locations over fiber. The company’s recently announced Gigapower joint venture offers the opportunity to expand fiber coverage with its first 1.5 million incremental locations, with additional flexibility to further grow its off-network footprint over time. Offers.
*About AT&T
We help more than 100 million family members, friends and neighbors in America, and nearly 2.5 million businesses, connect to greater potential. From the first phone over 140 years ago to his 5G wireless and multi-gig internet services today, we at @ATT continue to innovate to improve lives. For more information about AT&T Inc. (New York Stock Exchange: T), Please come we About att.comInvestors can learn more at investor.att.com.
Cautionary Note Regarding Forward-Looking Statements
The information contained in this news release contains financial estimates and other forward-looking statements that involve risks and uncertainties, and actual results may differ materially. Factors that may affect future results are set forth in AT&T’s filings with the Securities and Exchange Commission. AT&T undertakes no obligation to update or revise the statements contained in this news release based on new information or otherwise.
This news release may contain certain non-GAAP financial measures. A reconciliation of non-GAAP financial measures to GAAP financial measures is available on the company’s website. https://investors.att.com.
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