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AT&T COO Updates Shareholders at UBS Global TMT Conference

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DALLAS–()–Jeff McElfresh, COO, AT&T extension* Inc. (NYSE:T), spoke today at the UBS Global TMT Conference, where he provided an update to shareholders.

McElfresh reiterated that AT&T continues to take a disciplined approach focused on return to growth and investment and emphasized the following:

  • The company continues to see healthy customer growth in its strategic focus areas of 5G and fiber as customer demand for connectivity services remains high. As the company continues to monitor the changing business environment, McElfresh noted that AT&T continues to perform well due to a high-quality network and consistent go-to-market approach, and is pleased with its ability to attract customers. high quality.

  • Additionally, McElfresh added that he feels confident in the company’s strong value proposition, the resilient nature of its connectivity services, and the sustainability of its wireless customer growth across multiple segments. He also said he was pleased with the company’s price action results in the first half of 2022.

  • McElfresh said that while the company continues to sustain the investments it has made over the past two years, it is realizing further cost efficiencies. He shared that the benefits of cost-cutting measures are increasingly reducing profits and driving improvements in the company’s operating leverage.

  • AT&T remains committed to its drive to achieve a goal of more than 30 million locations, including corporate headquarters, with fiber by the end of 2025. At the end of the third quarter of 2022, AT&T was capable of serving 18.5 million consumer locations and approximately 3.0 million corporate customer locations in more than 100 metropolitan areas with fiber. McElfresh said AT&T Fiber continues to deliver the best customer experience in a competitive market and is pleased with the momentum in first-year penetration rates of about two times above historical norms.

  • McElfresh indicated that AT&T plans full-year capital investments in the $24 billion range to meet growing demand for core connectivity, while also meeting full-year 2022 guidance for free cash flow in the $24 billion range. 14 billion dollars. The company remains focused on investing in building a sustainable and long-lasting connectivity operation with improved cash generation and continues to be pleased with the return profile of its fiber and 5G investments.

*About AT&T

We help more than 100 million families, friends and neighbors across the United States, as well as nearly 2.5 million businesses, connect in a meaningful way every day. From the first phone call over 140 years ago to our multi-gig and 5G wireless internet offerings today, we at @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), visit us at about.att.com. Investors can learn more about investor.att.com.

Cautionary Language Related to Forward-Looking Statements

The information contained in this press release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties and actual results could 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 or revise any statements contained in this news release based on new information or otherwise.

This press release may contain certain non-GAAP financial measures. Reconciliations between non-GAAP financial measures and GAAP financial measures are available on the company’s website at https://investors.att.com.

© 2022 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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Written by Natalia Chi

Chicago Popular; Chicago breaking news, weather and live video. Covering local politics, health, traffic and sports for Chicago, the suburbs and northwest Indiana.

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