At&T Stock Price, News & Analysis

AT&T has announced a webcast featuring a fireside chat with CEO John Stankey at the UBS Global Media & Communications Conference on December 10, 2024. The event will begin at 8:15 a.m. ET and will be accessible through AT&T's Investor Relations website. The webcast will be available both live and for replay, with viewers advised to join a few minutes early to account for potential schedule adjustments. Interested parties can subscribe to AT&T's email alerts for automatic updates on financial news.

UScellular has announced an agreement to sell select spectrum assets to AT&T for $1.018 billion. The deal involves 1,250 million MHz-Pops of 3.45 GHz and 331 million MHz-Pops of 700 MHz B/C block licenses. This transaction is part of UScellular's strategy to monetize spectrum not included in the T-Mobile sale. Following this and previously announced transactions, UScellular will have agreements to monetize about 70% of its total spectrum holdings, representing approximately $2.02 billion in total consideration. The company will retain 1.86 billion MHz-Pops of low and mid-band spectrum, plus 17.2 billion MHz-Pops of mmWave spectrum.

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.