AT&T Delivered A Double Beat, And The Lumen Integration Is Ahead Of Schedule
AT&T reported strong Q1 results with a revenue beat and double-digit adjusted EPS growth, while advancing its fiber expansion and integrating Lumen's assets faster than expected. The company reaffirmed its $18 billion-plus free cash flow guidance and long-term target of 60 million fiber locations by 2030. Shares trade at attractive valuations with a 4.24% dividend yield and a sustainable payout ratio. Favorable interest rate trends could further boost margins if Fed rate cuts materialize.
- ▪AT&T delivered a $260 million revenue beat in Q1, reporting $31.5 billion in revenue, a 2.8% year-over-year increase.
- ▪The company achieved double-digit growth in adjusted earnings per share and maintained its $18 billion-plus free cash flow guidance.
- ▪Integration of Lumen's fiber assets is progressing ahead of schedule, supporting AT&T's expansion goals.
- ▪AT&T reaffirmed its target to reach 60 million fiber-enabled locations by 2030.
- ▪The stock offers a 4.24% dividend yield with a 44% free cash flow payout ratio, considered sustainable by the author.
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