“We expect slightly over 1/3 of the total to occur in Q2 and then taper off in the second half of the year as merger-related costs precede synergy realization.”

In context

“asing revenues which we continue to expect to be between $1.1 billion to $1.4 billion as we transition Sprint customers off device leasing. We now expect merger synergies to be between $5.2 billion to $5.4 billion, up $150 million at the midpoint and weighted to the second half of the year, primarily as we unlock more network savings as site decommissioning accelerates. As a result of timing of synergies within the year, the impacts from the Sprint network onset and an expected slight sequential decline in wholesale revenue, we expect core adjusted EBITDA in Q2 to be similar to Q1 and then higher in the second half. Merger-related costs not included in core adjusted EBITDA are still expected to be between $4.5 billion and $5 billion before taxes, primarily representing network activities. We expect slightly over 1/3 of the total to occur in Q2 and then taper off in the second half of the year as merger-related costs precede synergy realization. Net cash provided by operating activities, including payments for merger-related costs, is now expected to be in the range of $15.7 billion to $16.1 billion, up more than 10% year-over-year at the midpoint which is up $100 million from the prior guidance. With the robust pace of our 5G deployment and network integration, we now expect cash CapEx to be between $13.2 billion and $13.5 billion which is up $100 million at the midpoint as we capitalize on growth opportunities and enhance the customer network experience. Together, we now expect free cash flow, including payments for merger-related costs, to be in the range of $7.2 billion to $7.6 billion which we raised $50 million at the midpoint. This is up more than 30% over last year even with the higher levels of investment and does not as”