Core Insights - AT&T's CFO, Pascal Desroches, will provide updates on the company's growth strategy and financial guidance at the Deutsche Bank Media, Internet & Telecom Conference on March 9, 2026 [1] Financial Guidance - AT&T reaffirms its full-year 2026 and multi-year financial guidance, including plans to return over $45 billion to shareholders through dividends and share repurchases from 2026 to 2028 [1] - The company expects free cash flow for the first quarter of 2026 to be in the range of $2.0 to $2.5 billion [1] - AT&T anticipates adjusted EBITDA growth of 3% to 4% for the full year 2026, with low-single-digit year-over-year growth expected in the first quarter [1] Segment Reporting Changes - AT&T will implement new segment reporting starting with its first-quarter 2026 results to enhance visibility into its investment-led convergence strategy [1] - The new segments will include Latin America, Legacy, and Advanced Connectivity, with the latter expected to contribute approximately 90% of consolidated revenues in 2025 [1] Acquisition Impact - AT&T completed the acquisition of Lumen's Mass Markets fiber business on February 2, 2026, acquiring over 1 million fiber internet customers across more than 4 million locations [1] - The company aims to increase fiber penetration and convergence rates within the acquired customer base, which currently shows lower convergence rates compared to historical results [1] Debt Management - Following the acquisition of fiber assets, AT&T expects its net debt-to-adjusted EBITDA ratio to rise to approximately 3.2x, with a target to reduce it to around 3x by the end of 2026 [1] - The company plans to maintain a consistent approach to capital returns while working towards its net leverage target of 2.5x within three years post-acquisition [1]