Jeff McElfresh to Update Shareholders at Morgan Stanley Technology, Media & Telecom Conference on March 3
MWN-AI** Summary
On March 3, 2026, Jeff McElfresh, the Chief Operating Officer of AT&T, will address shareholders at the Morgan Stanley Technology, Media & Telecom Conference, providing insights into the company’s growth strategy and recent developments. Central to his presentation will be the acquisition of Lumen's Mass Markets fiber business, which AT&T completed on February 2—earlier than expected. This strategic move is anticipated to significantly enhance AT&T's fiber capabilities, expanding its service to over 36 million customer locations and setting a target to reach more than 60 million by 2030.
McElfresh will detail how this acquisition has added over 1 million fiber subscribers and expanded service across 32 states, offering AT&T a path to increase its fiber penetration from 25% to higher levels consistent with its broader offerings. Coupled with its wireless services, AT&T is poised to attract high-value converged customers who utilize both home internet and 5G services.
Furthermore, McElfresh is expected to reaffirm the company's long-term financial goals as shared in their fourth-quarter 2025 earnings report. This includes a commitment to return over $45 billion to shareholders via dividends and share repurchases from 2026 to 2028. He will clarify projections regarding the company’s net debt-to-adjusted EBITDA ratio, expecting it to rise temporarily before stabilizing back to target levels within three years post-acquisitions.
In essence, McElfresh's update will highlight AT&T's reinforced position in the connectivity market and its proactive steps towards future expansion, aiming to solidify customer trust and enhance shareholder value. The fireside chat is set to be accessible live and on-demand through the AT&T Investor Relations website.
MWN-AI** Analysis
As Jeff McElfresh prepares to address shareholders at the Morgan Stanley Technology, Media & Telecom Conference on March 3, significant strategic insights and market implications for AT&T Inc. (NYSE:T) should be considered by investors. The recent acquisition of Lumen's fiber assets not only enhances AT&T's infrastructure but positions it competitively within the broadband market, extending fiber reach by over 1 million new subscribers across crucial states.
Currently serving 36 million locations, this growth trajectory is commendable with a target of over 60 million by 2030. This expansion signifies AT&T's commitment to becoming a dominant player in the advanced connectivity sector, particularly as consumers increasingly demand high-quality internet services. The strategic thrust into fiber enhances its service portfolio, but what may resonate most with investors is the convergence of fiber and wireless services—this dual-offering is likely to drive customer retention and loyalty.
Furthermore, the reassurance of achieving its financial guidance for 2026, along with a commitment to return $45 billion to shareholders via dividends and share repurchases, reflects a disciplined approach to capital management and growth. The expected reduction in net debt-to-adjusted EBITDA ratios reinforces AT&T's focus on deleveraging, which has historically been a concern for shareholders.
With a strong emphasis on upgraded financial metrics like adjusted EBITDA and EPS, AT&T is not just addressing current market pressures but is positioning itself for future growth in a highly competitive field. Investors should maintain a positive outlook on AT&T's stock as it capitalizes on fiber expansion, reshaping its service offerings and addressing essential connectivity needs. Keeping an eye on McElfresh's comments could provide additional insights into strategic pivots that may enhance shareholder value further.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Jeff McElfresh to Update Shareholders at Morgan Stanley Technology, Media & Telecom Conference on March 3
PR Newswire
Tomorrow, AT&T's Chief Operating Officer will participate in a fireside chat at 10:00 a.m. ET to discuss the Company's progress on its multi-year growth strategy
Key Takeaways:
- Recent acquisition of fiber assets from Lumen positions the Company to materially expand the reach of AT&T Fiber, the nation's best and fastest home internet.1
- AT&T's fiber services now reach over 36 million customer locations, and the Company continues to expect that it will reach more than 60 million total fiber locations by the end of 2030 as it accelerates the pace of fiber deployment.2
- Expanded fiber footprint increases AT&T's ability to offer fiber internet and wireless services together, positioning the Company to win the home as a trusted provider that can meet more customers' advanced connectivity needs.
- AT&T reiterates all 2026 and multi-year financial and operational guidance and capital return plans shared during its fourth-quarter 2025 earnings call.
DALLAS, March 2, 2026 /PRNewswire/ -- Jeff McElfresh, Chief Operating Officer, AT&T (NYSE:T), will speak tomorrow at the Morgan Stanley Technology, Media & Telecom Conference where he will provide an update to shareholders.
AT&T closed its transaction to acquire substantially all of Lumen's Mass Markets fiber business on February 2, sooner than originally anticipated
Now that the transaction is complete, AT&T expects to begin unlocking significant opportunities to expand the total addressable market for its advanced connectivity services.
The transaction added more than 1 million fiber subscribers across more than 4 million fiber locations, expanding AT&T's industry-leading fiber home internet service to 32 states. This has created significant runway to increase current fiber penetration from roughly 25% in the acquired footprint to levels more consistent with AT&T Fiber penetration. Combined with its extensive wireless distribution in these geographies, AT&T further expects to grow its base of high-value converged customers that subscribe to both its advanced home internet and 5G wireless services.
Including the acquired Lumen fiber locations, AT&T now reaches over 36 million total fiber locations, and the Company expects to reach over 40 million total fiber locations by the end of 2026, up from 32 million at the end of last year. Beyond 2026, AT&T expects to expand its fiber reach to approximately 5 million additional locations annually, putting the Company on track to reach over 60 million total fiber locations by the end of the decade.2 Fiber is a winning play for AT&T – the Company ranks #1 in brand love among consumers in its AT&T Fiber footprint.
Through the combination of its advanced fiber and fixed wireless internet services, AT&T can now offer converged services to over half the country – positioning the Company to win the home as a trusted provider that can meet more customers' at-home and on-the-go connectivity needs. Converged customers are more likely to recommend AT&T, remain customers longer, and provide the best returns.
AT&T remains on track to achieve its 2026 and multi-year financial guidance
AT&T reiterates all full-year 2026 and multi-year financial guidance and capital return plans provided with its fourth-quarter 2025 earnings report, including its outlook for improved growth in adjusted EBITDA and adjusted EPS and higher free cash flow through 2028, as well as plans to return $45 billion+ to shareholders during 2026-2028 through dividends and share repurchases.
AT&T expects that its net debt-to-adjusted EBITDA ratio will increase to approximately 3.2x following its transaction with EchoStar – which the Company expects to close in early 2026 – and to decline to approximately 3x by the end of 2026. AT&T continues to expect net leverage will return to a level consistent with its target in the 2.5x range within approximately three years following the closing of this acquisition. The Company expects to maintain a consistent approach to capital returns while reducing net leverage to its target range.
Conference details and more are available on the AT&T Investor Relations website
Tune in for the fireside chat with Jeff McElfresh at the Morgan Stanley Tech, Media & Telecom Conference, scheduled to begin at 10:00 a.m. ET. The webcast will be available live and for replay on the AT&T Investor Relations website.
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1Based on analysis by Ookla® of Speedtest Intelligence® data, 2H 2025. Limited availability.
2"Reached locations" includes consumer and business locations (i) passed with fiber and (ii) served with fiber through commercial open-access providers.
About AT&T
We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 140+ years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate 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.
Cautionary Language Concerning Forward-Looking Statements
Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might 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 and revise statements contained in this news release based on new information or otherwise. This news release may contain certain non-GAAP financial measures. Reconciliations between the non-GAAP financial measures and the GAAP financial measures are available on the company's website at investors.att.com. Net debt and adjusted EBITDA estimates depend on future levels of revenues, expenses and other metrics which are not reasonably estimable at this time. Accordingly, we cannot provide a reconciliation between projected net debt-to-adjusted EBITDA and the most comparable GAAP metrics and related ratios without unreasonable effort.
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SOURCE AT&T
FAQ**
Jeff, can you share how the recent acquisition of fiber assets from Lumen will impact AT&T Inc. T's strategy for reaching over 60 million fiber locations by 2030 and what metrics will be used to measure success?
With AT&T Inc. T's expansion in fiber services, how do you envision the synergy between fiber and wireless offerings contributing to customer retention and overall profitability in the coming years?
As AT&T Inc. T achieves its goal of growing fiber locations, what specific plans do you have to enhance the customer experience and ensure high satisfaction among your new subscriber base?
Jeff, can you elaborate on AT&T Inc. T's expected progression in net debt-to-adjusted EBITDA ratios post-EchoStar acquisition and how this aligns with your capital return strategy over the next few years?
**MWN-AI FAQ is based on asking OpenAI questions about AT&T Inc. (NYSE: T).
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