CLAIM #55176 · AT&T Inc. (T) · 2024Q2 earnings call · Jul 24, 2024 · due Dec 31, 2024
“For the full-year, our expectations remain for adjusted EPS in the range of $2.15 to $2.25.”
Pascal Desroches · CFO
In context
“were in line with our expectations with revenues down slightly as a decline in Business Wireline service revenue and low-margin mobility equipment revenues offset growth in higher-margin wireless service revenues and fiber revenues. Adjusted EBITDA was up 2.6% for the quarter as growth in Mobility, Consumer Wireline in Mexico, which collectively drove more than 80% of our total revenue in the quarter were partially offset by continued declines in Business Wireline. In the first half, adjusted EBITDA grew 3.4%, and we continue to expect adjusted EBITDA growth in the 3% range for the full year. Adjusted EPS was $0.57 compared to $0.63 in the year-ago quarter. Consistent with 1Q, the quarter includes about $0.09 of aggregated EPS headwinds from the four items we discussed earlier this year. For the full-year, our expectations remain for adjusted EPS in the range of $2.15 to $2.25. We generated second quarter free cash flow of $4.6 billion, up nearly $400 million year-over-year. This is the result of sustained growth in adjusted EBITDA, improved conversion of EBITDA into free cash flow, and lower capital investment. Capital investment for the quarter was $4.9 billion, down $1 billion compared to the prior year, primarily as a result of lower payments for vendor financing. Capital expenditures were $4.4 billion, up approximately $100 million compared to the prior year. We remain on track for capital investments in the $21 billion to $22 billion range for the year with higher spending in the back half of the year as we ramp our wireless network modernization. The quarter also included a lower net impact from securitization of $1.5 billion relative to last year's secon”
Verify independently
SEC filings for T ↗ · Claim quote is verbatim from the 2024Q2 earnings call.