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CLAIM #55018 · AT&T Inc. (T) · 2023Q2 earnings call · Jul 26, 2023 · due Dec 31, 2023

We are on track to deliver our full year adjusted EBITDA guidance.

Pascal Desroches · CFO

PENDING
graded after results covering Dec 31, 2023 are reported

In context

not only today, but well into the future. With that, I'll turn it over to Pascal. Pascal? Pascal Desroches: Thank you, John, and good morning, everyone. Let's move to our second quarter financial summary on the next slide. Consolidated revenues were up nearly 1% in the second quarter, largely driven by wireless service revenue and fiber revenues. Additionally, revenues in our Mexico operation were also higher due to increases in wholesale and equipment revenues, as well as favorable FX. These increases were partially offset by an expected decrease in low margin mobility equipment revenues and a decline in business wireline. Adjusted EBITDA was up 7% for the quarter with growth in Mobility, Consumer Wireline in Mexico, this was partially offset by an expected decline in Business Wireline. We are on track to deliver our full year adjusted EBITDA guidance. Given our momentum to date, we are confident in delivering adjusted EBITDA growth of better than 3%. Adjusted EPS was $0.63 compared to $0.65 in the year ago quarter. This includes about $0.07 of non-cash aggregated EPS headwinds from lower pension credits, lower capitalized interest, lower DIRECTV equity income, all of which we expected. Cash from operating activities was $9.9 billion versus $7.7 billion last year and was up $3.2 billion sequentially. The main factors driving this year-over-year increase were: higher receipts driven by earnings growth; higher securitizations; and lower device and interest payments. Capital investment was $5.9 billion in the quarter and $12.4 billion year to date. This reflects continued historically high levels of investment in 5G and fiber. We expect to

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SEC filings for T · Claim quote is verbatim from the 2023Q2 earnings call.