AT&T reiterates all consolidated full-year 2026 and multi-year financial guidance
Company expects 2026 adjusted EPS of $2.25 to $2.35
AT&T sees 2026 free cash flow of $18 bln+, rising to $21 bln+ in 2028
Overview
US telecom operator's Q2 revenue rose 2.3% yr/yr, slightly missing analyst expectations
Adjusted EPS for Q2 beat analyst expectations
Company to accelerate 2026 share repurchases to about $10 bln
Result Drivers
Advanced connectivity growth - Co said Q2 results were driven by increases in fiber, fixed wireless, and postpaid phone subscribers, leading to record net adds in these categories
Fiber acquisition impact - Growth in fiber revenues included the impact of the first-quarter acquisition of Lumen's mass markets fiber business
Legacy revenue decline - Legacy segment revenues continued to fall as co decommissions its copper-based network
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 14 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the wireless telecommunications services peer group is "buy"
Wall Street's median 12-month price target for AT&T Inc is $29.25, about 31.4% above its July 21 closing price of $22.26
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 12 three months ago
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