AT&T raises FY24 adjusted EPS view to $2.20-$2.25 from $2.15-$2.25

Consensus $2.21. Backs FY24 adjusted EBITDA view up 3%. Backs FY24 capital investment view $21B-$22B. Sees FY24 wireless service revenue growth 3%. Sees FY24 broadband revenue growth of 7%+. Sees FY24 free cash flow $17N-$18B. The company said, “Adjusted EPS* of $2.20 to $2.25, reflecting an increase from the previously provided $2.15 to $2.25 range. This includes an expected adjusted equity in net income from DIRECTV of approximately $0.30 per share post-tax. When excluding this, the Company expects adjusted EPS in the $1.90 to $1.95 range.”