Pascal Desroches to Update Shareholders at the 2025 Mizuho Technology Conference on June 10

Rhea-AI Summary

AT&T's CFO Pascal Desroches will present at the 2025 Mizuho Technology Conference on June 10 to discuss the company's strategic growth initiatives. AT&T reaffirms its 2025 financial guidance and progress on its multi-year growth plan, which focuses on customer-first approach, network investment, and increased shareholder returns. The company recently announced the acquisition of Lumen's Mass Markets fiber business, aiming to expand its fiber network to 60 million locations by 2030. AT&T reports solid Q2 2025 performance, expecting capital investment of $4.5-5 billion and free cash flow of $4 billion. The company remains committed to its $10 billion share repurchase program, planning to buy back at least $3 billion in shares by year-end 2025.

Positive

• Acquisition of Lumen's Mass Markets fiber business will expand AT&T's connectivity infrastructure and market presence
• Plans to reach 60 million total fiber locations by 2030, strengthening fiber leadership
• Committed to $10 billion share repurchase program with $3 billion planned by year-end 2025
• Q2 2025 guidance maintained with expected free cash flow of $4 billion

Negative

• High capital investment required ($4.5-5 billion range for Q2 2025)
• Lumen acquisition closing delayed until first half of 2026
• Fiber net adds vary quarter to quarter due to market dynamics and seasonality

Insights

Telecommunications Industry Analyst

AT&T reaffirms 2025 guidance, continues $10B buyback plan, and confirms Lumen fiber acquisition strategy aligning with long-term connectivity goals.

AT&T's press release delivers several key affirmations for investors tracking the telecom giant's execution against its strategic roadmap. The company has reiterated its full-year 2025 financial and operational guidance, signaling confidence in its current trajectory despite competitive market conditions. Management specifically characterized the wireless industry as "both healthy and competitive" while expressing satisfaction with Mobility segment performance in Q2.

The acquisition of Lumen's Mass Markets fiber business represents a significant infrastructure expansion play that aligns with AT&T's strategic focus on connectivity convergence. This transaction will extend AT&T's fiber footprint into new metropolitan markets and accelerate the company's path toward its target of reaching approximately 60 million fiber locations by 2030. The deal's expected closure in H1 2026 positions AT&T to strengthen its competitive positioning in the fixed broadband market while enabling more bundled fiber/5G offerings.

From a capital allocation perspective, AT&T continues to balance network investment with shareholder returns. The company projects Q2 2025 capital investment of $4.5-5 billion alongside free cash flow of approximately $4 billion. Importantly, management reaffirmed its commitment to the previously announced $10 billion share repurchase program, with at least $3 billion to be executed by year-end 2025 and the remainder in 2026. This balanced approach reflects AT&T's strategic shift toward becoming a focused connectivity provider while maintaining financial discipline and increasing capital returns to shareholders.

DALLAS, June 9, 2025 /PRNewswire/ --

Tomorrow, AT&T's chief financial officer will participate in a fireside chat where he will discuss the Company's multi-year strategic growth plan.

Key Takeaways:

• AT&T reiterates full-year 2025 financial and operational guidance.
• AT&T is pursuing a multi-year strategic growth plan that centers around putting customers first, continued network investment and increased capital returns to shareholders.

Pascal Desroches, chief financial officer, AT&T Inc. (NYSE: T), will speak tomorrow at the 2025 Mizuho Technology Conference where he will provide an update to shareholders.

AT&T continues to make progress on becoming the best connectivity provider in America

The Company continues to execute on its multi-year growth plan and differentiate its position within the connectivity industry by increasing its opportunity to serve customers how they want to be served, by one provider with fiber and 5G in a converged manner.

The Company recently announced an agreement to acquire substantially all of Lumen's Mass Markets fiber internet connectivity business. The transaction, which is expected to close in the first half of 2026, will expand investment in critical U.S. connectivity infrastructure, create new middle-class jobs and accelerate high-speed fiber internet access to millions of Americans.

Additionally, this deal will enable AT&T to significantly expand access to AT&T Fiber in new major metro areas and allow the Company to serve more customers with 5G and fiber together. AT&T continues to extend its fiber leadership with plans to reach approximately 60 million total fiber locations by year-end 2030.¹

Ultimately, this transaction aligns with the priorities outlined at AT&T's 2024 Analyst & Investor Day, including its goal of becoming the best connectivity provider in America while providing more value to customers, shareholders and the Company. 

AT&T is seeing solid customer demand and remains on track to achieve its 2025 financial and operational guidance 

The wireless industry remains both healthy and competitive, and the Company is pleased with how the Mobility business is performing in the second quarter.

In Consumer Wireline, the Company continues to expand access to AT&T Fiber – America's fastest internet with the most reliable speeds.² Trends in AT&T Fiber penetration rates remain consistent, with net adds varying from quarter to quarter based primarily on the pace of new fiber locations passed, seasonality and marketplace dynamics.

For the second-quarter 2025, the Company continues to expect capital investment* in the $4.5 billion to $5 billion range and free cash flow* of approximately $4 billion. 

AT&T reiterates all full-year 2025 financial and operational guidance. Additionally, the Company continues to operate the business to achieve the financial plan and capital returns outlined at its 2024 Analyst & Investor Day. 

AT&T remains committed to repurchasing shares under the previously announced $10 billion authorization, with plans to repurchase at least $3 billion of common stock by year-end and the remainder during 2026.

Conference details and more are available on the AT&T Investor Relations website

Full conference details are posted on the AT&T Investor Relations website, including a replay of the webcast.

To automatically receive AT&T financial news by email, please subscribe to email alerts.

1 "Total locations" includes consumer and business locations (i) passed with fiber and (ii) served with fiber through commercial open-access providers.

2 Limited availability in select areas. Based on analysis by Ookla® of Speedtest Intelligence® data nationwide Speed Score and Consistency Score for Q3–Q4 2024. Ookla trademarks used under license and reprinted with permission.

*Due to high variability and difficulty in predicting items that impact cash from operating activities, capital expenditures and vendor financing payments, the Company is not able to provide a reconciliation between second quarter 2025 projected capital investment or free cash flow and the most comparable GAAP metrics without unreasonable effort.

 

Cautionary Language Concerning Forward-Looking Statements
Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise. This news release may contain certain non-GAAP financial measures. Reconciliations between the non-GAAP financial measures and the GAAP financial measures are available on the company's website at investors.att.com.

About AT&T
We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 140+ years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at about.att.com. Investors can learn more at investors.att.com.

© 2025 AT&T Intellectual Property. All rights reserved. AT&T and the Globe logo are registered trademarks of AT&T Intellectual Property.

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SOURCE AT&T

FAQ

What are AT&T's (T) plans for share repurchases in 2025-2026?

AT&T plans to repurchase at least $3 billion of common stock by end of 2025, with the remainder of its $10 billion authorization to be completed in 2026.

How many fiber locations does AT&T plan to reach by 2030?

AT&T aims to reach approximately 60 million total fiber locations by year-end 2030, including both consumer and business locations.

What is AT&T's expected free cash flow for Q2 2025?

AT&T expects free cash flow of approximately $4 billion for the second quarter of 2025.

When will AT&T complete the acquisition of Lumen's Mass Markets fiber business?

The acquisition is expected to close in the first half of 2026.

What is AT&T's expected capital investment for Q2 2025?

AT&T expects capital investment in the range of $4.5 billion to $5 billion for Q2 2025.