AT&T Inc. Earnings Call Transcripts
Fiscal Year 2026
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Significant annual investments are being made to build an AI-ready, future-proof network, with a focus on fiber expansion, convergence, and strategic use of fixed wireless. Customer growth, revenue acceleration, and business service stabilization are expected, while industry partnerships and modernization efforts aim to deliver long-term shareholder value.
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Management expects EBITDA growth to accelerate through fiber expansion, wireless modernization, and disciplined cost management. The new satellite JV aims to standardize technology and expand coverage, while the go-to-market strategy targets value segments to maximize network utilization. AI and edge infrastructure are key future opportunities.
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The meeting covered strong financial results, major investments in fiber and 5G, and approval of all management proposals. Shareholder proposals on written consent and EEO-1 disclosure were defeated. Strategic plans focus on network modernization, AI readiness, and increased shareholder returns.
Fiscal Year 2025
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Third quarter results showed revenue and EBITDA growth, strong broadband and wireless customer additions, and continued progress on fiber and 5G investments. Full-year guidance was reiterated, with pending acquisitions expected to further boost growth.
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The acquisition of Lumen's mass-market fiber business will double fiber reach to 60 million locations by 2030, accelerate out-of-region expansion, and enable bundled broadband and wireless offerings. The deal is expected to close in early 2026 and be accretive long term.
Fiscal Year 2024
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Management outlined a multi-year plan to invest $22B annually in fiber and wireless modernization, targeting 50M+ fiber locations by 2029 and exiting copper. $40B will be returned to shareholders via dividends and buybacks, with robust growth in fiber, wireless, and business segments expected.