T-Mobile raises FY23 adjusted EBITDA view to $28.9B-$29.2B from $28.8B-$29.2B

Postpaid net customer additions are expected to be between 5.6 million and 5.9 million, an increase from prior guidance of 5.3 million to 5.7 million. Core Adjusted EBITDA, which is Adjusted EBITDA less lease revenues, is expected to be between $28.9 billion and $29.2 billion, an increase from prior guidance of $28.8 billion to $29.2 billion. Merger synergies are expected to be approximately $7.5 billion, an increase from prior guidance of $7.3 billion to $7.5 billion. Merger-related costs are expected to be approximately $1.0 billion before taxes. These costs are excluded from Core Adjusted EBITDA but will impact Net income, Net cash provided by operating activities and Adjusted Free Cash Flow. Net cash provided by operating activities, including payments for Merger-related costs, is expected to be between $18.0 billion and $18.3 billion, an increase from prior guidance of $17.9 billion to $18.3 billion. Cash purchases of property and equipment, including capitalized interest, are expected to be between $9.5 billion and $9.7 billion an increase from the prior guidance of $9.4 billion to $9.7 billion. Adjusted Free Cash Flow, including payments for Merger-related costs, is expected to be between $13.2 billion and $13.6 billion. Adjusted Free Cash Flow guidance does not assume any material net cash inflows from securitization.