“We would expect Q3 to be the low water mark for the year before we accelerating in Q4 with more site upgrades and build activity.”

In context

“n the impact of ACP, as well as funding our higher postpaid customer guide. On ACP, we now expect the year-over-year impact to be in the range of $350 million to $450 million, driven primarily by what we're seeing at some of our wholesale providers. Okay, turning to cash CapEx, we now expect to be between $8.7 billion and $9.1 billion as we continue to invest and lead in network performance with unmatched capital efficiency. While our longer-term expectations continue to be in the $9 billion to $10 billion range annually, as we discussed before, 2024 is a bit lower given certain capital efficient network activities such as spectrum refarming and deploying additional 2.5 gigahertz licenses from auction 108, benefiting from the significant 5G radio deployments during our merger integration. We would expect Q3 to be the low water mark for the year before we accelerating in Q4 with more site upgrades and build activity. Lastly, we now expect the adjusted free cash flow, which includes payments for merger related costs to be in the range of $16.6 billion to $17 billion, up $150 million at the midpoint and up 24% year-over-year, driven by both margin expansion and capital efficiency and translating to an industry-leading service revenue to adjusted free cash flow margin. In closing, we delivered another strong quarter and expect another year of durable and differentiated growth as we continue to extend our network leadership and further scale our unique growth opportunities. We expect this to continue to translate into industry-leading growth in service revenue, core adjusted EBITDA and adjusted free cash flow, along with the highest adjusted free cash flow margin in the industry. We are looking forward to”