AT&T backs FY24 CapEx view $21B-$22B, on track to achieve financial guidance

Pascal Desroches, CFO, AT&T, will speak tomorrow at the Bank of America C-Suite TMT Conference where he will provide an update to shareholders. AT&T remains on track to achieve its financial guidance. The company remains confident in its ability to deliver on all of the financial guidance shared during its earnings report in April 2024. AT&T also remains focused on driving incremental efficiencies through its goal of $2B+ in run-rate cost savings by mid-2026. The company is on track to achieve net-debt to adjusted EBITDA in the 2.5x range in the first half of 2025. It also plans to continue addressing short-term financing obligations as it shapes an even more sustainable and ratable free cash flow cadence. AT&T continues to make critical investments in its wireless and fiber future. Over the past five years, from 2019 to 2023, AT&T invested $145B+ primarily in its wireless and wireline networks, including capital investments and acquisitions of wireless spectrum3. To support its ongoing investment in 5G and fiber, the company continues to expect 2024 capital investment in the $21B-22B range.