At&T Stock Price, News & Analysis

AT&T announces the launch of an industry-first integrated gateway device combining fiber and 5G networks in a single-box solution. Available nationwide in early 2025 for new AT&T Business Fiber customers with speeds of 1 Gbps or higher, the device features automatic failover to AT&T's 5G network during fiber outages. The gateway includes Wi-Fi 6E technology and has already been rolled out in seven states. This solution aims to provide businesses with continuous connectivity, preventing revenue loss and productivity disruptions through seamless network switching.

AT&T and Corning have announced a multi-year purchase agreement valued at over $1 billion for next-generation fiber, cable, and connectivity solutions. As Corning's largest customer with preferential volume status, AT&T will utilize Corning's Evolv® portfolio to expand its fiber network. The agreement supports AT&T's goal of reaching 30M+ locations by 2025, building on their current coverage of 28.3M consumer and business locations. AT&T will implement Corning's latest Evolv® FlexNAP™ with Multifiber Pushlok® Technology, which complies with BEAD program requirements.

AT&T reported Q3 2024 results with revenues of $30.2 billion and adjusted EPS of $0.60. The company added 403,000 postpaid phone subscribers and 226,000 AT&T Fiber customers. Key highlights include 4.0% growth in Mobility service revenues to $16.5 billion and 6.4% increase in consumer broadband revenues to $2.8 billion. Despite weather challenges and work stoppage, AT&T maintained its full-year 2024 guidance, including wireless service revenue growth around 3%, broadband revenue growth of 7%+, and free cash flow of $17-18 billion.

AT&T has successfully ratified two collective bargaining agreements with the Communications Workers of America (CWA), covering approximately 23,000 employees. The agreements include:

• A 5-year agreement with CWA District 3 in the Southeast, covering about 15,000 employees across 9 states, expiring on Aug. 4, 2029.
• A 4-year agreement with CWA District 9 in the West, covering about 8,400 employees in California and Nevada, expiring on April 8, 2028.

As the largest employer of union-represented employees in the U.S. telecommunications industry, AT&T emphasizes its commitment to growing 5G and fiber with a strong union workforce. The agreements provide competitive market-based wage increases, comprehensive benefits, and improved job security, positioning the company for sustainable growth while recognizing employee contributions.

AT&T (NYSE:T) has announced its upcoming 2024 Analyst & Investor Day, scheduled for Tuesday, December 3, 2024, in Dallas. The event will commence at 2 p.m. EST and will be simultaneously webcast live for remote attendees.

The Analyst & Investor Day will feature presentations from AT&T's senior leadership team, focusing on the company's investment-led growth strategy and capital allocation plans. Attendees will also have the opportunity to participate in a live Q&A session with the leadership.

For those unable to attend in person, a live webcast will be available on AT&T's Investor Relations website. Following the event, a webcast replay and transcript will be made accessible on the same platform. Interested parties can subscribe to email alerts for automatic updates on AT&T financial news.

DIRECTV has announced a definitive agreement to acquire EchoStar's video distribution business, including DISH TV and Sling TV, through a debt exchange transaction. The combination aims to create a more robust competitive force in the video industry dominated by streaming services owned by large tech companies and programmers.

Key points of the transaction:

• DIRECTV expects to have increased scale to negotiate better content packages at lower prices
• The combined company will be better positioned to aggregate multiple content sources
• EchoStar will have an improved financial profile to enhance its 5G Open RAN wireless network
• DIRECTV estimates cost synergies of at least $1 billion per annum by the third anniversary of closing
• The transaction is expected to close in Q4 2025, subject to regulatory approvals and other conditions

Additionally, TPG Inc. has announced a separate agreement to acquire AT&T's 70% stake in DIRECTV.

AT&T (NYSE:T) has agreed to sell its remaining 70% stake in DIRECTV to TPG, subject to customary closing conditions. This non-contingent transaction marks the complete divestiture of AT&T's interest in DIRECTV. Over the past three years, AT&T has received $19 billion in cash distributions from its initial transaction with TPG and expects an additional $7.6 billion following this agreement.

The sale aligns with AT&T's strategy to focus on being the leading wireless 5G and fiber connectivity company in America. It also aims to strengthen AT&T's balance sheet by accelerating cash inflows. The transaction is expected to close in the second half of 2025.

AT&T has declared a quarterly dividend of $0.2775 per share on its common shares, payable on November 1, 2024. The board of directors also announced dividends on the company's preferred stock series. For Series A, the dividend is $312.50 per preferred share ($0.3125 per depositary share), while for Series C, it's $296.875 per preferred share ($0.296875 per depositary share). These dividends will be paid to stockholders of record as of the close of business on October 10, 2024.

Dense Air and Millennium Parking Garages have successfully completed a groundbreaking pilot project to enhance cellular connectivity in underground locations. The project, integrated with AT&T and T-Mobile networks, achieved continuous coverage from entrance to exit in just 28 days, significantly faster than traditional solutions. The cellShare™ multi-carrier small cell solution delivered download speeds up to 250 Mbps, transforming the user experience from zero coverage to high-speed connectivity.

During Lollapalooza, users experienced download speeds as high as 160Mbps in peak periods. The project's success opens doors for future applications like navigation wayfinding, EV charging, digital signage, and connected sensors. This rapid deployment sets a new industry standard for reliable service in challenging environments.