14 Nov

AT&T’s Outlook for Q4 2018

WRITTEN BY Andrew Smith FEATURED IN Company News, Insights, & Analysis

Wall Street analysts’ estimates

Wall Street analysts expect AT&T (T) to report a ~15.9% rise in revenue to $48.5 billion in the fourth quarter, compared to $41.8 billion in the fourth quarter of 2017. Its adjusted EPS are expected at $0.85 in the fourth quarter, compared to $0.78 in the fourth quarter last year.

Last month, AT&T reported mixed third-quarter financial results. The telecom company beat Wall Street analysts’ estimates for revenue but missed earnings estimates. However, AT&T management stood by its earlier guidance for full-year 2018. AT&T expects adjusted EPS at the “high end of $3.50 range” and free cash flow at the “high end of the $21 billion range.” It also expects net capital expenditures of ~$22.0 billion for fiscal 2018.

AT&T’s Outlook for Q4 2018

In the third quarter, AT&T’s adjusted EPS rose ~21.6% YoY (year-over-year) to $0.90. The company’s earnings missed consensus Wall Street estimates by ~4.3%. However, AT&T’s total revenue beat analysts’ expectations by ~0.2% in the third quarter. The company’s total revenue rose ~15.3% YoY to reach $45.7 billion. The third quarter was AT&T’s first full quarter incorporating Time Warner’s services.

Peer comparison

In comparison, Verizon’s (VZ) adjusted EPS rose ~24.5% YoY to $1.22 in the third quarter while T-Mobile’s (TMUS) EPS rose ~47.6% YoY to $0.93. Sprint (S) reported EPS of $0.05 in the second quarter of fiscal 2018 (which ended in September), compared with an EPS loss of $0.01 a year ago.

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