AT&T On Track to Meet 2024 Financial Guidance, Expects Capital Investment of Up to $22 Billion

MT Newswires 11/06/2024 05:50

05:50 PM EDT, 06/10/2024 (MT Newswires) -- AT&T (T) said Monday it remains on track to achieve its previously-announced 2024 financial guidance and continues to expect capital investment of $21 billion to $22 billion for this year to expand its 5G and fiber networks.

The company said in April it expects 2024 adjusted earnings per share of $2.15 to $2.25.

In a presentation to update shareholders at Bank of America C-Suite TMT conference on Tuesday, AT&T Chief Financial Officer

Pascal Desroches said the company also remains focused on driving incremental efficiencies through its goal of $2 billion or more in run-rate cost savings by mid-2026.

AT&T is also on track to achieve net-debt-to-adjusted EBITDA in the 2.5 times range in H1 2025, and plans to continue addressing short-term financing obligations, according to the company.

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