Pascal Desroches to Update Shareholders at Deutsche Bank Media, Internet & Telecom Conference on March 9
MWN-AI** Summary
On March 9, 2026, Pascal Desroches, Chief Financial Officer of AT&T, will address shareholders at the Deutsche Bank Media, Internet & Telecom Conference. His presentation will focus on key updates regarding the company's multi-year growth strategy.
One significant aspect of the discussion will be the upcoming changes to AT&T's segment reporting, planned to take effect with its first-quarter 2026 results. This revision aims to enhance investor understanding of the company's investments in advanced connectivity services, including 5G and fiber. The new structure will delineate performance into three segments: Advanced Connectivity, Legacy, and Latin America. This change is designed to provide clearer insights into AT&T's growth initiatives and the impacts of its legacy services, which are expected to decline.
Desroches will also highlight the completion of AT&T's acquisition of Lumen's Mass Markets fiber business, which closed on February 2, 2026, ahead of schedule. The addition of over 1 million fiber internet customers presents substantial growth opportunities in terms of high-value converged services that bundle home internet with 5G offerings. Currently, a small percentage of these new customers subscribe to AT&T's wireless services, suggesting room for improved market penetration.
AT&T reiterates its commitment to its financial and operational targets set during its fourth-quarter 2025 earnings call. The company anticipates free cash flow between $2.0 billion and $2.5 billion for the first quarter, aiming for an adjusted EBITDA growth rate of 3% to 4% for the full year. Furthermore, AT&T is on track to return over $45 billion to shareholders via dividends and share repurchases from 2026 to 2028, while also aiming to gradually reduce its net debt leverage.
Desroches's updates promise to provide key insights into AT&T’s growth trajectory and strategic initiatives for investors attending the conference.
MWN-AI** Analysis
Pascal Desroches, CFO of AT&T, is set to provide key updates during the Deutsche Bank Media, Internet & Telecom Conference, focusing on the company's strategic growth initiatives and financial performance. Investors should pay close attention to several elements highlighted in his address, particularly as AT&T transitions to new segment reporting.
Firstly, the planned restructuring of AT&T’s segments will enhance transparency into the performance of its advanced connectivity services—primarily 5G and fiber—which are critical for future growth. This move is aimed at allowing shareholders to better evaluate the company’s investment returns in these areas, which accounted for approximately 90% of revenues in 2025.
Moreover, AT&T’s acquisition of Lumen's Mass Markets fiber business represents a significant opportunity to bolster its high-value converged customer base. The prospect of integrating over 1 million new fiber internet customers into AT&T’s ecosystem should catalyze growth, especially considering the current low overlap of customers who utilize both fiber and wireless services. This convergence is vital as AT&T aims to approach its historical rates of 42% convergence.
Desroches will reiterate the company's 2026 financial guidance and capital return plans, such as a projected return of over $45 billion to shareholders by 2028 through dividends and share repurchases. This commitment to capital return while managing leverage positions AT&T favorably against its peers.
Investors should monitor the first-quarter results for additional insights regarding the impact of the Lumen acquisition and seek updates on the anticipated financial metrics. Overall, AT&T appears to be on a transformative path with promising opportunities that could enhance shareholder value in the coming years. A focus on the adjusted EBITDA growth and free cash flow will be crucial as they reflect the effectiveness of AT&T’s strategies moving forward.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Pascal Desroches to Update Shareholders at Deutsche Bank Media, Internet & Telecom Conference on March 9
PR Newswire
Tomorrow, AT&T's Chief Financial Officer will participate in a fireside chat at 8:00 a.m. ET to discuss the Company's progress on its multi-year growth strategy
Key Takeaways:
- AT&T's planned new segment reporting, beginning with its first-quarter 2026 results, will provide investors with a better framework for assessing the returns on the Company's growth investments in 5G and fiber.
- Acquisition of Lumen's Mass Markets fiber business provides significant opportunities to grow AT&T's base of high-value converged customers that subscribe to both its advanced home internet and 5G wireless services.
- AT&T reiterates all full-year 2026 and multi-year financial and operational guidance and capital return plans shared during its fourth-quarter 2025 earnings call.
DALLAS, March 8, 2026 /PRNewswire/ -- Pascal Desroches, Chief Financial Officer, AT&T (NYSE:T), will speak tomorrow at the Deutsche Bank Media, Internet & Telecom Conference where he will provide an update to shareholders.
Planned new segment reporting to provide investors with better visibility into drivers of AT&T's investment-led convergence strategy
As disclosed with the Company's fourth-quarter 2025 results, AT&T plans to revise its operating segments to reflect the evolution of its business model to focus on delivering advanced connectivity services across 5G and fiber to consumer and business customers. Beginning with the Company's first-quarter 2026 results, the Company's planned new reportable segments will be:
- Advanced Connectivity, which represents results primarily from the Company's domestic 5G and fiber-based wireless, internet and other advanced connectivity services, on a recast basis contributed approximately 90% of consolidated revenues in 2025. Results for this segment will be provided in aggregate with supplemental disclosures for performance of the Company's consumer and business relationships.
- Legacy, which represents results from the Company's domestic legacy voice and data services provided over its copper-based network to consumer and business customers. These results include revenues derived from copper-based services and direct operating costs.
- Latin America, which will continue to represent results for the Company's wireless business in Mexico.
By separating the performance of AT&T's advanced connectivity business from its declining legacy segment, investors will have greater transparency into the returns generated from growth investments in 5G and fiber and how the Company is advancing with its legacy shutdown.
Additional information on AT&T's planned new segments, including a recast of quarterly and annual results from the past three years under this framework, can be found on the Company's Investor Relations website.
First quarter results to reflect acquisition of fiber assets from Lumen
AT&T closed its transaction to acquire substantially all of Lumen's Mass Markets fiber business on February 2, sooner than originally anticipated. The Company's first-quarter 2026 results will reflect the impact of the acquisition from this date.
This includes the acquisition of over 1 million fiber internet customers across over 4 million fiber locations, which is well below AT&T Fiber penetration of 40% at the end of 2025. In addition, fewer than 1 in 5 of these customers are also subscribers to AT&T's wireless services, which is well below the Company's fiber convergence rate in the fourth quarter of 2025 of 42%. AT&T sees significant opportunity to increase fiber penetration and convergence of its fiber and wireless services within the acquired footprint to levels more consistent with its historical results as it increases its investment in these geographies.
The Company holds the acquired fiber network assets, including certain fiber network build capabilities, in a wholly owned subsidiary. AT&T plans to sell partial ownership in this subsidiary to an equity partner that will co-invest in the ongoing business. Beginning with its first-quarter 2026 results, AT&T expects to report this business as held-for-sale and discontinued operations, with the results of operations and direct cash flows excluded from the Company's continuing operations. After closing the anticipated sale of partial ownership to an equity partner, AT&T's share of the equity income (loss) of this subsidiary will be included in adjusted EPS from continuing operations.
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. For the first quarter of 2026, the Company continues to expect free cash flow in the range of $2.0 to $2.5 billion. The Company also continues to expect full-year 2026 growth in adjusted EBITDA in the 3% to 4% range, with year-over-year growth in the low-single-digit range during the first quarter.
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 Pascal Desroches at the Deutsche Bank Media, Internet & Telecom Conference, scheduled to begin at 8:00 a.m. ET. The webcast will be available live and for replay on the AT&T Investor Relations website.
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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, adjusted EBITDA and free cash flow estimates depend on future levels of revenues, expenses, capital expenditures, cash paid for vendor financing and other metrics which are not reasonably estimable at this time. Accordingly, we cannot provide a reconciliation between projected net debt-to-adjusted EBITDA, adjusted EBITDA or free cash flow and the most comparable GAAP metrics and related ratios without unreasonable effort.
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SOURCE AT&T
FAQ**
How does AT&T Inc. T plan to leverage the acquisition of Lumen's Mass Markets fiber business to enhance its growth strategy in 5G and fiber services over the next few years?
Can you elaborate on the expected impact of the new segment reporting on AT&T Inc. T's financial transparency and how it will aid investors in assessing growth investments?
With the net debt-to-adjusted EBITDA ratio projected to increase to approximately 3.2x, what measures will AT&T Inc. T take to bring it back down to your target range of 2.5x in the coming years?
What specific milestones should shareholders of AT&T Inc. T watch for in 2026 that will indicate progress towards achieving your multi-year financial and operational guidance?
**MWN-AI FAQ is based on asking OpenAI questions about AT&T Inc. (NYSE: T).
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