The company also revealed plans to add 15 million new fibre locations and an additional five million through joint ventures.
Meanwhile, AT&T has its 2024 free cash flow projection of at least $16 billion, with expectations of generating $2.8 billion or more in the first quarter alone.
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The company also anticipates first-quarter earnings per share of $0.48 or higher, aligning with last year’s results.
To strengthen its financial position, AT&T has secured more than $2 billion from recent transactions, helping to reduce debt, the company stated.
However, looking ahead, it also expects to generate $50 billion in additional financial capacity by 2027.
As a result, over $20 billion will be allocated to both dividend payments and stock repurchases.
AT&T is also projecting EBITDA growth of at least 3% annually over the next three years.
In its earnings call, AT&T CFO, Pascal Desroches said: “ We closed last year at $29 million with our planned developments. By 2029, we expect to surpass $50 million and expand our locations.
“Additionally, we are modernising our wireless network, with peak investment occurring this year.
“Over the next several years, we anticipate scaling back wireless spending, allowing more of our capital budget to focus on fibre deployment. These efforts will drive continued growth for our company.”
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