John Stankey to Update Shareholders at J.P. Morgan Global Technology, Media and Communications Conference on May 19

Rhea-AI Impact

(Neutral)

Rhea-AI Sentiment

(Positive)

Rhea-AI Summary

AT&T (NYSE:T) announced that CEO John Stankey will update shareholders at the J.P. Morgan Global Technology, Media and Communications Conference on May 19 at 8:00 a.m. ET.

The company highlights fiber and 5G investments, reiterates all 2026 and multi-year guidance, and expects Q2 2026 free cash flow of $4.0–$4.5 billion and improved year-over-year wireless service revenue and consolidated adjusted EBITDA growth versus Q1 2026 growth rates.

AI-generated analysis. Not financial advice.

Positive

Reiterates 2026 and multi-year financial and operational guidance and capital return plans
Targets higher adjusted EBITDA, adjusted EPS and free cash flow through 2028
Plans to return $45 billion+ to shareholders during 2026–2028
Expects net debt-to-adjusted EBITDA to reach ~2.5x within about three years post EchoStar deal
Guides to Q2 2026 free cash flow of $4.0–$4.5 billion
Expects faster year-over-year growth in Q2 2026 wireless service revenue and consolidated adjusted EBITDA than in Q1 2026
Reaches 90M+ locations with advanced internet, including 37M+ fiber locations, targeting 60M fiber locations by 2030

Negative

None.

News Market Reaction – T

+1.74%

1 alert

+1.74% News Effect

On the day this news was published, T gained 1.74%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Advanced internet reach: more than 90 million customer locations Fiber locations: more than 37 million fiber locations Fiber target 2030: over 60 million customer locations +5 more

8 metrics

Advanced internet reach more than 90 million customer locations Current reach of advanced internet services

Fiber locations more than 37 million fiber locations Customer locations currently served with fiber

Fiber target 2030 over 60 million customer locations Planned fiber reach by end of 2030

Capital returns $45 billion+ Planned returns to shareholders during 2026–2028 via dividends and repurchases

Leverage target 2.5x net debt-to-adjusted EBITDA Expected ratio within ~three years after EchoStar transaction closing

Q2 2026 FCF guidance $4.0–$4.5 billion Expected second quarter 2026 free cash flow range

Improved adjusted EBITDA improved growth through 2028 Outlook for adjusted EBITDA over multi-year period

Improved adjusted EPS improved growth through 2028 Outlook for adjusted EPS over multi-year period

Market Reality Check

Price: $25.26 Vol: Volume 38,225,293 is 6% a...

normal vol

$25.26 Last Close

Volume Volume 38,225,293 is 6% above the 20-day average of 35,911,477, indicating slightly elevated trading activity before the conference update. normal

Technical Shares at 24.43 are trading below the 200-day MA of 26.61, reflecting a weaker intermediate-term trend into the event.

Peers on Argus

While AT&T fell 2.52%, key peers like TMUS (+2.47%), VZ (+0.34%) and CMCSA (+0.8...

1 Up

While AT&T fell 2.52%, key peers like TMUS (+2.47%), VZ (+0.34%) and CMCSA (+0.85%) were up, pointing to stock-specific pressure rather than a broad telecom move.

Historical Context

5 past events · Latest: May 14 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
May 14	Annual meeting results	Positive	-2.5%	Preliminary 2026 annual meeting results with all director nominees re-elected.
May 14	JV announcement	Positive	-0.4%	Planned joint venture with peers to expand satellite-based D2D connectivity.
May 08	Conference webcast	Positive	-0.4%	Planned J.P. Morgan fireside chat and reiteration of multi-year guidance.
May 05	Network performance	Positive	-0.8%	Announcement of #1 ranking for fastest converged upload speeds in the U.S.
Apr 29	Small business contest	Positive	-1.2%	Launch of 2026 small business contest and new Dynamic Defense offering.

Pattern Detected

Recent company announcements have generally been positive or strategic, yet the stock has tended to trade lower following these updates.

Recent Company History

Over the past few weeks, AT&T has issued a series of largely constructive updates, including joint-venture plans on satellite-based D2D connectivity, reaffirmation of 2026 and multi-year guidance, network performance accolades, and small-business initiatives. Despite this, each of the last five news events saw a negative 24-hour price reaction. Today’s reaffirmation of long-term financial and capital return plans at the J.P. Morgan conference fits the pattern of positive strategic messaging against a softer share price backdrop.

Market Pulse Summary

This announcement reiterates AT&T’s multi-year strategy, highlighting continued expansion of fiber a...

Analysis

This announcement reiterates AT&T’s multi-year strategy, highlighting continued expansion of fiber and 5G, an ambition to reach over 60 million fiber locations by 2030, and expectations for improved adjusted EBITDA, adjusted EPS and higher free cash flow through 2028. Management also plans to return $45 billion+ to shareholders between 2026–2028 and target a net debt-to-adjusted EBITDA ratio near 2.5x. Investors may watch future quarters for delivery on fiber build-out, convergence metrics and free cash flow guidance.

Key Terms

fiber, 5G, adjusted EBITDA, adjusted EPS, +4 more

8 terms

fiber technical

"Investments in fiber and 5G position AT&T for improved growth"

Fibers are the indigestible parts of plant-based foods—like cellulose, pectin and similar substances—that travel through the digestive system largely unchanged and support bowel regularity and other health effects. For investors, fiber matters because its presence determines nutrition labels, allowed health claims, product positioning and consumer demand, so it can affect a food company’s sales, pricing power and regulatory or legal risk; think of it as a product’s health badge.

5G technical

"Investments in fiber and 5G position AT&T for improved growth"

5G is the fifth generation of wireless technology that provides faster internet connections, lower latency, and greater capacity than previous networks. It enables quicker downloads, smoother streaming, and more reliable connections for devices. For investors, 5G represents a significant upgrade in technology infrastructure that can drive growth in related industries such as smartphones, smart cities, and the Internet of Things.

adjusted EBITDA financial

"outlook for improved growth in adjusted EBITDA and adjusted EPS"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

adjusted EPS financial

"outlook for improved growth in adjusted EBITDA and adjusted EPS"

Adjusted earnings per share (adjusted eps) is a measure of a company's profit per share that has been modified to exclude certain one-time or unusual items, such as costs from restructuring or asset sales. It provides a clearer picture of the company’s core performance by removing events that may distort the usual earnings. Investors use adjusted eps to better understand a company's ongoing profitability and compare it more accurately over time.

free cash flow financial

"higher free cash flow through 2028"

Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.

net debt-to-adjusted EBITDA ratio financial

"expectation that its net debt-to-adjusted EBITDA ratio will return"

Net debt-to-adjusted EBITDA ratio compares a company's net debt (total borrowings minus cash) to its core annual earnings before interest, taxes, depreciation and amortization after removing one-time or unusual items. It tells investors how many years of those normalized operating earnings would be needed to pay off the company's net debt, like comparing remaining mortgage debt to a household’s steady take-home pay to judge financial strain and default risk.

converged connectivity technical

"simplicity, value and choice, and converged connectivity – enabling the Company to win"

Converged connectivity is the merging of different network types—like wired, wireless, cellular and IoT links—into a single, managed system so devices and data move seamlessly. Think of it as replacing many remote controls with one universal remote: it simplifies operations, lowers costs and makes networks easier to scale. Investors watch it because companies that deliver or adopt converged connectivity can cut ongoing expenses, boost recurring revenue and respond faster to demand shifts.

AI-generated analysis. Not financial advice.

05/18/2026 - 05:30 PM

Tomorrow, AT&T's Chairman and Chief Executive 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:

Investments in fiber and 5G position AT&T for improved growth as it accelerates and scales the execution of its strategy
AT&T is uniquely positioned to deliver more of what customers want – fiber and 5G from one provider on the nation's largest advanced converged network
AT&T reiterates all 2026 and multi-year financial and operational guidance and capital return plans shared during its first-quarter 2026 results

DALLAS, May 18, 2026 /PRNewswire/ -- John Stankey, Chairman and Chief Executive Officer, AT&T (NYSE:T), will speak tomorrow at the J.P. Morgan Global Technology, Media and Communications Conference where he will provide an update to shareholders.

Investments in fiber and 5G position AT&T for improved growth as it accelerates and scales the execution of its strategy
AT&T's customer-centric, investment-led strategy is working – differentiating how AT&T goes to market to grow converged customer relationships and supporting a clear path to accelerating growth. The Company recently saw its best-ever first quarter for Advanced Connectivity internet net adds alongside its fastest-ever year-over-year organic growth in its advanced home internet convergence rate as customers increasingly purchase their internet and wireless together from AT&T.

Today, AT&T reaches more than 90 million customer locations with its advanced internet services, including more than 37 million fiber locations, and remains on pace to reach over 60 million customer locations with fiber by the end of 2030.¹ After years of industry-leading investments in fiber and 5G, AT&T is strategically positioned to deliver more of what customers want – simplicity, value and choice, and converged connectivity – enabling the Company to win in new geographies and underpenetrated categories across consumers and businesses.

AT&T remains on track to achieve its 2026 and multi-year financial guidance
AT&T maintains the long-term outlook and capital allocation plans provided with its first-quarter 2026 results. This includes the Company's outlook for improved growth in adjusted EBITDA and adjusted EPS and higher free cash flow through 2028, its plans to return $45 billion+ to shareholders during 2026-2028 through dividends and share repurchases, and an expectation that its net debt-to-adjusted EBITDA ratio will return to a level consistent with its target in the 2.5x range within approximately three years following the closing of its transaction with EchoStar.

For the second quarter of 2026, AT&T continues to expect improved year-over-year growth in wireless service revenue and in consolidated adjusted EBITDA compared to year-over-year growth rates reported in the first quarter of 2026. The Company also continues to expect second quarter free cash flow in the range of $4.0 to $4.5 billion.

Conference details and more are available on the AT&T Investor Relations website
To hear more, tune into the fireside chat with John Stankey at the J.P. Morgan Global Technology, Media and Communications 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.

To automatically receive AT&T financial news by email, please subscribe to email alerts.

Total consumer and business locations reached with fiber represents the sum of: (1) AT&T Owned and Operated locations, which reflect its customer locations passed by AT&T's fiber network and (2) Fiber Ventures locations, which represent locations served from the acquired Mass Markets fiber business, Gigapower, and other 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 150 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. Free cash flow estimates depend on predictions of items that impact cash from operating activities, capital expenditures and vendor financing payments. 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, the Company cannot provide reconciliations between projected free cash flow and 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

What will AT&T (NYSE:T) discuss at the J.P. Morgan conference on May 19, 2026?

AT&T will discuss progress on its multi-year growth strategy, focused on fiber and 5G. According to AT&T, CEO John Stankey will update shareholders on customer growth, financial outlook through 2028, and capital return and leverage targets.

What 2026 and multi-year financial guidance did AT&T (T) reiterate on May 18, 2026?

AT&T reiterated its 2026 and multi-year financial and operational guidance. According to AT&T, this includes expectations for improved adjusted EBITDA and adjusted EPS, higher free cash flow through 2028, and previously outlined capital allocation and leverage reduction plans.

How much capital does AT&T (T) plan to return to shareholders in 2026-2028?

AT&T plans to return more than $45 billion to shareholders from 2026 to 2028. According to AT&T, this will be delivered through a combination of dividends and share repurchases under its long-term capital allocation framework.

What is AT&T’s (NYSE:T) free cash flow outlook for Q2 2026?

AT&T expects second-quarter 2026 free cash flow between $4.0 billion and $4.5 billion. According to AT&T, this guidance accompanies anticipated improved year-over-year growth in both wireless service revenue and consolidated adjusted EBITDA versus Q1 2026 growth rates.

How is AT&T (T) positioned in fiber and 5G as of May 2026?

AT&T reports reaching over 90 million locations with advanced internet, including more than 37 million fiber locations. According to AT&T, the company remains on pace to reach over 60 million fiber locations by the end of 2030.

What leverage target does AT&T (T) expect after the EchoStar transaction?

AT&T expects its net debt-to-adjusted EBITDA ratio to return to about 2.5x within roughly three years after closing the EchoStar transaction. According to AT&T, this leverage goal is part of its broader multi-year financial and capital allocation plan.