“That update reflects full year 2024 line extension spend of approximately $4.3 billion, down from $4.5 billion, partly offset by slightly higher core CapEx, primarily due to the shift of some of our construction labor from rural efforts to hurricane rebuild activity.”

In context

“arter, down about $400 million from last year's third quarter. Line extension spend totaled $1.1 billion, $16 million higher than last year driven by our subsidized Rural Construction initiative and continued network expansion across residential and commercial greenfield and market billing opportunities. Third quarter capital expenditures excluding line extensions totaled $1.5 billion, which was lower than the prior year period by about $400 million. The decline was driven by core CapEx items, including CPE timing and lower than originally expected spend on network evolution given what Chris discussed earlier with respect to our Step 2 software certification. We now expect total 2024 capital expenditures to reach approximately $11.5 billion, down from approximately $12 billion previously. That update reflects full year 2024 line extension spend of approximately $4.3 billion, down from $4.5 billion, partly offset by slightly higher core CapEx, primarily due to the shift of some of our construction labor from rural efforts to hurricane rebuild activity. The update also includes 2024 network evolution estimated spend of approximately $1.1 billion, down from the previous estimate of $1.6 billion. Much of that originally planned 2024 spend is being pushed into 2026 and 2027. As Chris mentioned, we will update our multiyear capital expenditures outlook when we complete our 2025 operating plan and report our fourth quarter results in January. We now expect our total BEAD spend will be substantially less than our spend in RDOF, in each case, net of subsidies. That lower outlook reflects the most recent broadband map updates in terms of available unserved passings near our network and a little less favorable rules framework in BEAD when compared to RDOF and state grants. We have been in regular communication with the states in which we operate”