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 is embarking on a multi-year strategic growth plan that centers around putting customers first and continued network investment.
- AT&T continues to make progress on becoming the best connectivity provider in America and remains on track to meet all of the financial and operational guidance and capital allocation plans shared during its fourth quarter 2024 earnings conference call and its 2024 Analyst & Investor Day.
- AT&T expects to report strong free cash flow in the first quarter as well as the receipt of more than $2 billion in cash proceeds and payments related to previously announced transactions.
Pascal Desroches, chief financial officer, AT&T Inc. (NYSE:T, news, filings), will speak tomorrow at the Deutsche Bank Media, Internet & Telecom Conference where he will provide an update to shareholders.
AT&T remains on track to achieve its 2025 consolidated financial guidance and deliver on its multi-year outlook
AT&T remains on track to meet all of the 2025 and multi-year financial and operational guidance and capital allocation plans shared during its fourth quarter 2024 earnings conference call and at its 2024 Analyst & Investor Day.
As previously disclosed, beginning in 2025, AT&T’s reported free cash flow and adjusted EPS will exclude DIRECTV. The Company has provided a recast of historical results for these two financial measures in its Form 8-K dated December 3, 2024.
The Company continues to expect full-year adjusted EPS of $1.97 to $2.07 and expects first-quarter adjusted EPS of approximately $0.48, or higher. This would result in adjusted EPS in the first quarter of 2025 that is consistent with, or better than, the first quarter of 2024, when excluding DIRECTV from the prior year.
The Company continues to expect full-year free cash flow of $16 billion+ and expects first-quarter free cash flow of approximately $2.8 billion, or higher. This would result in free cash flow in the first quarter of 2025 that is consistent with, or better than, the first quarter of 2024, when excluding DIRECTV from the prior year.
In addition, during the first quarter of 2025, AT&T expects to receive approximately $1.4 to $1.5 billion of cash payments from DIRECTV related to its agreement to sell its 70% stake in DIRECTV to TPG. The Company continues to expect to close the sale by mid-2025, and to receive total after-tax cash payments related to this transaction of $5.4 billion in 2025, as well as after-tax cash payments of $500 million in 2029.
In the first quarter, the Company also received more than $850 million in cash proceeds from the previously announced structured sale-leaseback of real estate to Reign Capital. Cash received related to the DIRECTV and Reign Capital transactions are not included in AT&T’s free cash flow.
The Company continues to expect to achieve its net leverage target of net-debt-to-adjusted EBITDA in the 2.5x range in the first half of 2025 and maintain leverage within this range through 2027.
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.
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