AT&T COO Briefs Shareholders at Bank of America Conference | Nation/World


DALLAS–(BUSINESS WIRE)–June 23, 2022–

Jeff McElfresh, Chief Operating Officer, AT&T Inc.* (NYSE:T), spoke at the Bank of America C-Suite TMT conference today, where he provided an update to shareholders.

McElfresh reiterated that AT&T has taken a disciplined approach to growth and investment and made the following points:

  • The company continues to develop its relationships with its customers in its strategic areas of 5G and fiber. McElfresh said the company continues to see healthy consumer demand, although postpaid wireless industry demand in 2022 is expected to likely not replicate 2021 levels. AT&T continues to successfully attract high-value customers through its consistent, straightforward go-to-market strategy and effective distribution.
  • McElfresh remains confident that the company can improve postpaid phone ARPU trends in 2022. He reiterated the company’s previous comment that postpaid phone ARPU may increase sequentially in the second quarter.
  • McElfresh said a top priority for the company is improving earnings trends, especially as some transformational investments drive additional efficiencies across AT&T. As previously reported, the company continues to anticipate a gradual improvement in mobility EBITDA trends year over year throughout 2022. The company expects a more pronounced impact from the shutdown of the previously announced 3G network and the absence of approximately $100 million in CAF II and FirstNet related reimbursements in the second quarter. However, the revenue and EBITDA impacts of these items are expected to be more than mitigated in the second half by organic service revenue growth and the amortization of 3G shutdown costs in the second half of 2021.
  • AT&T’s fiber optic build continues to progress with the goal of reaching more than 30 million total customer locations by 2025. McElfresh noted that AT&T is acquiring new customers and seeing strong penetration through its simple go-to-market approach.
  • AT&T continues to work on its process of streamlining its wireline portfolio and focusing its efforts on core transport and connectivity solutions. As previously reported, the company has yet to see a recovery in public sector demand trends, which impacted business in the first quarter.

*About AT&T

We help over 100 million American families, friends and neighbors connect in meaningful ways every day. From the first phone call over 140 years ago to our 5G and multi-gig wireless Internet offerings today, we @ATT are innovating to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at about.att.com. Investors can learn more at Investors.att.com.

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See the source version on businesswire.com: https://www.businesswire.com/news/home/20220623006024/en/

CONTACT: Brittany Siwald

AT&T Corporate Communications

Phone: (214) 202-6630

Email: [email protected]

KEYWORD: TEXAS UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: TECHNOLOGY 5G MOBILE/WIRELESS ENTERTAINMENT TELECOMMUNICATIONS NETWORKS TV & RADIO CINEMA & MOTION IMAGES INTERNET

SOURCE: AT&T Inc.

Copyright BusinessWire 2022.

PUBLISHED: 6/23/2022 6:49 PM / DISK: 6/23/2022 6:49 PM

http://www.businesswire.com/news/home/20220623006024/en

Copyright BusinessWire 2022.

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