Category Archives: T

AT&T (T) 24Q1 Update

AT&T reported 24Q1 GAAP EPS of $0.47, compared with last year’s loss of $0.57.  My estimate was $0.47.  Non-GAAP EPS was $0.55, below last year’s $0.50, but above my estimate of $0.53.  Free cash flow was $3.1 billion in the … Continue reading

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AT&T (T) 23Q4 Update

AT&T reported 23Q4 GAAP EPS of $0.30, compared with last year’s loss of $3.20.  My estimate was $0.55.  The shortfall vs. my estimate was due to a $589 million impairment charge, lower gross margin, higher SG&A expense and a $1.7 … Continue reading

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AT&T (T) 23Q3 Update

AT&T reported 23Q3 GAAP EPS of $0.48, below last year’s $0.79 and also below my estimate of $0.55.  The primary cause of the shortfall vs. my estimate was a $604 million charge for impairments and restructuring that included a $450 … Continue reading

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Initiating Coverage on AT&T (T)

AT&T reported 23Q2 results that slightly exceeded guidance and consensus estimates.  The results also raised confidence that the company can achieve its 2023 free cash flow target of $16 billion.

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AT&T (T) 18Q1 Results

AT&T reported diluted EPS of $0.56 per share, down from $0.75 a year ago.  Non-GAAP adjusted EPS of $0.86 per share was up slightly from $0.85 last year and in line with consensus estimates.   The difference between GAAP and non-GAAP … Continue reading

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A Review of AT&T’s Prospects Following the Time Warner Acquisition

AT&T completed its acquisition of Time Warner on June 14, 2018.  Under the merger agreement, Time Warner shareholders received $53.75 per share in cash and 1.437 shares of AT&T stock for each TWX share held.  In total, Time Warner shareholders … Continue reading

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