AT&T anticipates earnings growth over the next three years thanks to the momentum of 5G and fiber services.
The company also announced Tuesday that it expects its improved financial performance to support more than $40 billion of anticipated shareholder returns through dividends and stock buybacks over the same time. This includes an initial $10 billion stock repurchase that it expects to complete by the end of 2026.
“Over the last four years, we’ve achieved durable and profitable subscriber growth, generated attractive returns on network investment, and strengthened our balance sheet,” AT&T CEO John Stankey said in a statement.
Shares of AT&T rose about 3% before the market open.
The Dallas company said that it's looking to expand its fiber broadband network to more than 50 million locations by the end of 2029. It is actively working to exit its legacy copper network operations across the large majority of its wireline footprint by the end of of that year as well.
AT&T said that it expects to have largely completed the modernization of its 5G wireless network with open technology by 2027, with deep mid-band 5G spectrum covering more than 300 million people by the end of 2026. The company said that the network will be able to support super-fast download speeds and serve as a platform for new product and GenAI innovation.
AT&T now anticipates 2024 adjusted earnings in a range of $2.20 to $2.25 per share. Its prior outlook was for $2.15 to $2.25 per share.
Analysts polled by FactSet expect full-year earnings of $2.21 per share.
For 2025, AT&T is calling for adjusted earnings of $1.97 to $2.07 per share, excluding DirecTV. It foresees adjusted earnings per share accelerating to double-digit percentage growth in 2027.
Free cash flow is expected to total more than $16 billion next year, excluding DirecTV. AT&T predicts annual growth of approximately $1 billion, resulting in free cash flow of more than $18 billion in 2027.
AT&T sold a 30% stake of DirecTV to private equity firm TPG in 2021 for $16.25 billion. It is now in the process of selling its remaining 70% stake in DirecTV to TPG for about $7.6 billion, which is expected to close next year.
FILE - The company logo hangs over the door to a AT&T telephone store, Feb. 22, 2024, in Denver. (AP Photo/David Zalubowski, file)
LONDON (AP) — The Princess of Wales helped kick off the emir of Qatar’s trip to Britain on Tuesday as the U.K. government enlists one of the most popular royals to ensure the success of a state visit by the leader of a key ally, even as the princess recovers from cancer treatment.
The event will be just one of a handful of appearances that Prince William’s wife, better known as Kate, has made since she was diagnosed with cancer in March, underscoring the importance of the gas-rich gulf state that invests billions in Britain and has played a central role in ceasefire talks between Israel and Hamas.
William and Kate greeted Sheikh Tamim bin Hamad Al Thani and Sheikha Jawaher bint Hamad bin Suhaim Al Thani in the morning. The couples then traveled to Horse Guards Parade in central London, where King Charles III formally welcomed the emir and Sheikha Jawaher to Britain at the start of a two-day visit that will include a trip to Westminster Abbey, a banquet at Buckingham Palace and a meeting with Prime Minister Keir Starmer.
Queen Camilla, who pulled out of Tuesday's chilly outdoor events on medical advice, told guests at a palace lunch that she had suffered from a lingering chest infection that was a form of pneumonia, Britain's Press Association reported. She added that she no longer has pneumonia, but was suffering from post-viral fatigue.
Though smaller than the U.S. state of Connecticut, Qatar has the world’s third-largest reserves of natural gas and is a key investor in the U.K. The Qatari Investment Authority owns the luxury retailer Harrod’s and holds large stakes in British companies such as Barclays Bank and the supermarket chain Sainsbury’s. It has also invested heavily in London real estate, including the Shard, western Europe’s tallest building.
But the display of pomp being rolled out for the emir sits uneasily with human rights advocates who say women and LGBTQ+ people face discrimination in Qatar, and migrant workers still haven’t been compensated for “egregious abuses” that occurred during preparations for the 2022 soccer World Cup.
“Hosting the royal visit without addressing these issues is tantamount to royal-washing Qatar’s troubling rights record,” said Yasmine Ahmed, U.K. director of Human Rights Watch.
The state visit comes at the end of a difficult year for Britain’s royal family.
The king was sidelined for two months after it was announced in February that he had been diagnosed with an undisclosed form of cancer. Just a few weeks later, Kate made public her own cancer diagnosis and said that she, too, would be stepping away from public duties to focus on her treatment and recovery.
While Charles returned to public duties at the end of April, Kate needed more time and her return has been slower.
The princess has made only a few public appearances this year, mostly at moments of national significance. They included the king’s annual birthday parade in June and the men’s final at Wimbledon in July. Most recently, she took part in the annual Remembrance Day ceremonies in November to honor the nation’s war dead.
The princess announced in September that she had completed chemotherapy treatment.
One reason the government and royal family may have asked Kate and William to play a major role in the Qatari state visit is because they have a lot in common with the emir.
All three are in their early 40s and were educated at elite British prep schools. The emir and William are both graduates of the Royal Military Academy at Sandhurst, with the emir going on to serve in the Qatari military and William serving in both the British Army and Royal Air Force.
Kate and William will join the Qatari royals and the king and queen for a carriage procession to Buckingham Palace.
After lunch at the palace, the emir and Sheikha Jawaher will visit Westminster Abbey and the Houses of Parliament.
Later in the day, the king and queen will host a state banquet at Buckingham Palace.
On Wednesday, the emir will visit Sandhurst, meeting with some of his former classmates and current Qatari cadets. He will also meet with RAF personnel who are providing advanced training for Qatari air force pilots.
The emir will then travel to the prime minister’s residence at 10 Downing Street for his meeting with Starmer.
Find more of AP’s coverage at https://apnews.com/hub/royalty
Britain's King Charles III, centre, and Queen Camilla, right, with the Emir of Qatar Sheikh Tamim bin Hamad Al Thani, second left, and Britain's Princess Anne, left, during a State Banquet at Buckingham Palace, in London, Tuesday, Dec. 3, 2024, during the state visit to the U.K. of the Emir of Qatar and the first of his three wives. (Jordan Pettitt/Pool Photo via AP)
Britain's Queen Camilla ahead of a state banquet at Buckingham Palace, in London, Tuesday, Dec. 3, 2024, during the Emir of Qatar's state visit to the U.K. (Aaron Chown/Pool Photo via AP)
A carriage procession along The Mall to welcome the Emir of the State of Qatar Sheikh Tamim bin Hamad Al Thani and Sheikha Jawaher bint Hamad bin Suhaim Al Thani in London, Tuesday, Dec. 3, 2024. (AP Photo/Alberto Pezzali)
Britain's Catherine, Princess of Wales stands next to Prince William, Prince of Wales, as Qatari Emir Sheikh Tamim bin Hamad al-Thani and his wife Sheikha Jawaher bint Hamad bin Suhaim Al-Thani visit Buckingham palace in London, Britain, Tuesday, Dec. 3, 2024. (Mina Kim/Pool via AP)
Qatar's Emir Sheikh Tamim bin Hamad al-Thani, center, and his wife Sheikha Jawaher bint Hamad bin Suhaim al-Thani, left, react during a visit to Westminster Abbey with Westminster Dean David Hoyle, in London, Tuesday, Dec. 3, 2024, on the first day of their two-day State Visit to Britain. ( Justin Tallis/Pool photo via AP)
Qatar's Emir Sheikh Tamim bin Hamad al-Thani looks as his wife Sheikha Jawaher bint Hamad bin Suhaim al-Thani signing the guests book during a visit to Westminster Abbey, in London, Tuesday, Dec. 3, 2024, on the first day of their two-day State Visit to Britain. ( Justin Tallis/Pool photo via AP)
Wife of Qatar's Emir, Sheikha Jawaher bint Hamad bin Suhaim al-Thani during a visit to Westminster Abbey in London, Tuesday, Dec. 3, 2024, on the first day of their two-day State Visit to Britain. ( Justin Tallis/Pool photo via AP)
Britain's King Charles III, second right, and Queen Camilla, left, with the Emir of Qatar Sheikh Tamim bin Hamad Al Thani and his wife Sheikha Jawaher ahead of a state banquet at Buckingham Palace, in London, Tuesday, Dec. 3, 2024, during his state visit to the U.K. (Aaron Chown/Pool Photo via AP)
Britain's Kate, Princess of Wales and Prince William arrive to welcome the Emir of the State of Qatar Sheikh Tamim bin Hamad Al Thani and Sheikha Jawaher bint Hamad bin Suhaim Al Thani, right, in London, Tuesday, Dec. 3, 2024. (Henry Nicholls, Pool via AP)
Britain's Prince William and Kate, Princess of Wales arrive at Buckingham Palace, London during the state visit to the UK of the Emir of Qatar Tuesday Dec. 3, 2024. (Jonathan Brady, Pool via AP)
Britain's Kate, Princess of Wales arrives to welcome the Emir of the State of Qatar Sheikh Tamim bin Hamad Al Thani and Sheikha Jawaher bint Hamad bin Suhaim Al Thani in London, Tuesday, Dec. 3, 2024. (Henry Nicholls, Pool via AP)
Britain's King Charles III, second right, and Queen Camilla, left, with the Emir of Qatar Sheikh Tamim bin Hamad Al Thani and his wife Sheikha Jawaher ahead of a state banquet at Buckingham Palace, in London, Tuesday, Dec. 3, 2024, during his state visit to the U.K. (Aaron Chown/Pool Photo via AP)
Britain's King Charles III, centre, and Queen Camilla, right, with the Emir of Qatar Sheikh Tamim bin Hamad Al Thani, second left, and Britain's Princess Anne, left, during a State Banquet at Buckingham Palace, in London, Tuesday, Dec. 3, 2024, during the state visit to the U.K. of the Emir of Qatar. (Jordan Pettitt/Pool Photo via AP)
Britain's Kate, Princess of Wales, Prince William and Sheikha Jawaher bint Hamad bin Suhaim Al Thani smile during the ceremonial welcome in London, Tuesday, Dec. 3, 2024. (AP Photo/Kin Cheung, Pool)
Britain's King Charles III, right, and Britain's Queen Camilla, behind Qatar's Emir, walk with the Emir of Qatar Sheikh Tamim bin Hamad Al Thani, foreground left, and his wife Sheikha Jawaher during the state visit to the UK of the Emir of Qatar, in London, Tuesday, Dec. 3, 2024. (Jonathan Brady via AP, Pool)
Britain's King Charles III, right, and Britain's Queen Camilla, behind, walk with the Emir of Qatar Sheikh Tamim bin Hamad Al Thani, foreground left, and his wife Sheikha Jawaher during the state visit to the UK of the Emir of Qatar, in London, Tuesday, Dec. 3, 2024. (Jonathan Brady via AP, Pool)
Britain's Kate, Princess of Wales and Prince William sit in a carriage after welcoming the Emir of the State of Qatar Sheikh Tamim bin Hamad Al Thani and Sheikha Jawaher bint Hamad bin Suhaim Al Thani in London, Tuesday, Dec. 3, 2024. (AP Photo/Kin Cheung, Pool)
Britain's Queen Camilla arrives at Buckingham Palace in London, Tuesday, Dec. 3, 2024. (AP Photo/Alberto Pezzali)
Britain's Catherine, Princess of Wales, greets dignitaries as she arrives ahead of a Ceremonial Welcome for the Emir of Qatar Sheikh Tamim bin Hamad Al Thani and his wife Sheikha Jawaher, at Horse Guards Parade in London, Tuesday Dec. 3, 2024. (Henry Nicholls via AP, Pool)
Britain's Kate, Princess of Wales, right, Prince William and King Charles III, left, welcome the Emir of the State of Qatar Sheikh Tamim bin Hamad Al Thani and Sheikha Jawaher bint Hamad bin Suhaim Al Thani in London, Tuesday, Dec. 3, 2024. (AP Photo/Kin Cheung, Pool)
Britain's Kate, Princess of Wales, Prince William and King Charles III, from left, welcome the Emir of the State of Qatar Sheikh Tamim bin Hamad Al Thani, second right, and Sheikha Jawaher bint Hamad bin Suhaim Al Thani in London, Tuesday, Dec. 3, 2024. (AP Photo/Kin Cheung, Pool)
Britain's Kate, Princess of Wales, Prince William, front left, and King Charles III, right, welcome the Emir of the State of Qatar Sheikh Tamim bin Hamad Al Thani and Sheikha Jawaher bint Hamad bin Suhaim Al Thani in London, Tuesday, Dec. 3, 2024. (AP Photo/Kin Cheung, Pool)
Britain's Catherine, Princess of Wales, greets dignitaries as she arrives ahead of a Ceremonial Welcome for the Emir of Qatar Sheikh Tamim bin Hamad Al Thani and his wife Sheikha Jawaher, at Horse Guards Parade in London, Tuesday Dec. 3, 2024. (Henry Nicholls via AP, Pool)
Emir of Qatar Sheikh Tamim bin Hamad bin Khalifa Al Thani, front left, and Sheikha Hind bint Hamad bin Khalifa al-Thani, front right, arrive at Stansted Airport in Essex, England, Monday Dec. 2, 2024, for a state visit hosted by King Charles III. ( Joe Giddens/PA via AP)
Emir of Qatar Sheikh Tamim bin Hamad bin Khalifa Al Thani, front left, and Sheikha Hind bint Hamad bin Khalifa al-Thani, front right, arrive at Stansted Airport in Essex, England, Monday Dec. 2, 2024, for a state visit hosted by King Charles III. ( Joe Giddens/PA via AP)
