Core Insights - AT&T's CFO will discuss the company's multi-year strategic growth plan at the 2025 Mizuho Technology Conference [2][3] - The company aims to become the best connectivity provider in America by enhancing customer service through a combination of fiber and 5G offerings [3][5] Strategic Developments - AT&T has announced an agreement to acquire Lumen's Mass Markets fiber internet connectivity business, expected to close in the first half of 2026, which will enhance U.S. connectivity infrastructure and create new jobs [4][5] - The acquisition will allow AT&T to expand access to AT&T Fiber in major metro areas and serve more customers with integrated 5G and fiber services [5] Financial Performance and Guidance - AT&T is on track to meet its 2025 financial and operational guidance, with solid customer demand in the wireless industry [6][8] - For Q2 2025, the company expects capital investment in the range of $4.5 billion to $5 billion and free cash flow of approximately $4 billion [7] - The company reiterates its full-year 2025 financial and operational guidance, including a commitment to repurchase at least $3 billion of common stock by year-end [8][10] Network Expansion - AT&T plans to reach approximately 60 million total fiber locations by the end of 2030, continuing to extend its fiber leadership [5]

Core Insights - AT&T's CFO will discuss the company's multi-year strategic growth plan at the Deutsche Bank Media, Internet & Telecom Conference [3] - The company is on track to meet its 2025 consolidated financial guidance and multi-year outlook [4][12] Financial Performance - AT&T expects full-year adjusted EPS of $1.97 to $2.07 and first-quarter adjusted EPS of approximately $0.48 or higher, consistent with or better than the first quarter of 2024 [6] - The company anticipates full-year free cash flow of over $16 billion and first-quarter free cash flow of approximately $2.8 billion or higher, also consistent with or better than the first quarter of 2024 [7] - AT&T expects to receive approximately $1.4 to $1.5 billion in cash payments from DIRECTV related to the sale of its 70% stake, with total after-tax cash payments expected to be $5.4 billion in 2025 [8] Strategic Initiatives - The company is focused on becoming the best connectivity provider in America, emphasizing customer-first strategies and continued network investment [12] - AT&T aims to achieve a net leverage target of net-debt-to-adjusted EBITDA in the 2.5x range in the first half of 2025 and maintain this leverage through 2027 [9]

Core Viewpoint - AT&T is on track to achieve its 2025 consolidated financial guidance and is focused on a multi-year strategic growth plan aimed at enhancing its position as a leading connectivity provider in America [3][11]. Financial Guidance - The company expects to generate over $50 billion in financial capacity over the next three years, primarily through organic growth [4]. - AT&T plans to return over $40 billion to shareholders through dividends and share repurchases, maintaining an annualized common stock dividend of $1.11 per share [5]. - The company has authorized an initial tranche of approximately $10 billion for share repurchases, expected to commence upon reaching its net leverage target [6]. Strategic Growth Plan - The multi-year strategic growth plan emphasizes customer-centric approaches and continued network investments, aiming to position AT&T favorably within the connectivity industry by the end of the decade [9][11]. - The plan includes approximately $10 billion in incremental financial flexibility for strategic investments, debt repayment, and additional shareholder returns [7]. Business Segments Performance - In Mobility, AT&T anticipates full-year wireless service growth in the higher end of the 2% to 3% range and Mobility EBITDA growth in the higher end of the 3% to 4% range [10]. - Consumer Wireline is expected to see mid-teens revenue growth in fiber broadband and high-single to low-double-digit EBITDA growth [13]. - Business Wireline is projected to experience a mid-teens decline in EBITDA due to ongoing industry-wide declines in legacy services [14].