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The company also announced Tuesday that it expects its improved financial performance to support more than $40 billion of anticipated shareholder returns through dividends and stock buybacks over the same time. This includes an initial $10 billion stock repurchase that it expects to complete by the end of 2026.
AT&T said that it expects to have largely completed the modernization of its 5G wireless network with open technology by 2027, with deep mid-band 5G spectrum covering more than 300 million people by the end of 2026. The company said that the network will be able to support super-fast download speeds and serve as a platform for new product and GenAI innovation.
AT&T now anticipates 2024 adjusted earnings in a range of $2.20 to $2.25 per share. Its prior outlook was for $2.15 to $2.25 per share.For 2025, AT&T is calling for adjusted earnings of $1.97 to $2.07 per share, excluding DirecTV. It foresees adjusted earnings per share accelerating to double-digit percentage growth in 2027.
Free cash flow is expected to total more than $16 billion next year, excluding DirecTV. AT&T predicts annual growth of approximately $1 billion, resulting in free cash flow of more than $18 billion in 2027.Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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