CLAIM #55217 · AT&T Inc. (T) · 2024Q3 earnings call · Oct 23, 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
“ine. Year-to-date, adjusted EBITDA grew 3.4%, and we continue to expect adjusted EBITDA growth in the 3% range for the full year. We expect to achieve this growth even with about $115 million of estimated financial impact related to the effects of Hurricane Helene and Milton and the work stoppage. Consumer Wireline and Business Wireline are expected to bear most of this impact. Adjusted EPS was $0.60 compared to $0.64 in the year-ago quarter. Consistent with prior quarters this year, the third quarter included about $0.09 of aggregate EPS headwinds from the four items we discussed earlier in the year. Adjusted EPS excludes $0.61 impact related to a $4.4 billion non-cash goodwill impairment charge for our Business Wireline unit driven by an industry-wide secular decline of legacy services. For the full year, our expectations remain for adjusted EPS in the range of $2.15 to $2.25. Year-to-date, free cash flow is $12.8 billion. This is up $2.4 billion compared to the same time last year and consistent with our goal of driving higher free cash flow that is more ratable on a quarterly basis. In the third quarter, we generated free cash flow of $5.1 billion, which included the previously disclosed one-time payment of $480 million related to our wireless network transformation and the continued paydown of vendor financing obligations. Capital investment for the quarter was $5.5 billion, down about $150 million compared to the prior year, primarily due to lower vendor financing payments. Capital expenditures were $5.3 billion, up approximately $650 million compared to the prior year. We expect higher capital investment in the fourth quarter as we ramp our wireless networ”
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SEC filings for T ↗ · Claim quote is verbatim from the 2024Q3 earnings call.