AT&T Adds 1M Fiber Subs with Lumen Deal, Reaffirms EPS and Launches AI Platform
AT&T closed acquisition of Lumen’s fiber business on Feb. 2, adding 1 million subscribers, expanding to 4 million and targeting 40 million fiber locations by 2026. The company reaffirmed 2026 EPS guidance of $2.25–$2.35, targets 3%–4% EBITDA growth and launched a smart manufacturing platform using 5G and generative AI.
1. Early Close of Lumen Fiber Acquisition
AT&T completed the acquisition of Lumen’s Mass Markets fiber business on February 2, adding over 1 million fiber subscribers and boosting its network reach to more than 4 million fiber-enabled locations.
2. Fiber Expansion Targets
The transaction raises AT&T’s fiber penetration from roughly 25% toward its network average and sets a goal of exceeding 40 million fiber locations by the end of 2026, with plans to add about 5 million new locations annually through 2030.
3. Reaffirmed Financial Outlook and Capital Return
AT&T reaffirmed 2026 adjusted EPS guidance of $2.25–$2.35, projects 3%–4% adjusted EBITDA growth in 2026 (rising to 5% by 2028), plans $23–$24 billion in annual capital investment, and will return over $45 billion to shareholders from 2026–2028.
4. Launch of Connected AI Manufacturing Platform
The company introduced a smart manufacturing solution that integrates 5G, edge computing and generative AI to reduce downtime and boost efficiency following strong pilot results.