AT&T (T) 25Q3 Update
AT&T reported 25Q3 GAAP EPS of $1.29, compared with a loss of $0.03 in the prior year period. Non-GAAP EPS of $0.54 was down from $0.60. I had projected GAAP EPS of $0.86 and non-GAAP EPS of $0.65.
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AT&T (T) 25Q2 Update
AT&T reported 25Q2 GAAP EPS of $0.62, compared with $0.49 in the prior year period. Non-GAAP EPS of $0.54 was down from $0.60. I had projected GAAP EPS of $0.46 and non-GAAP EPS of $0.52.
Continue reading →AT&T (T) 25Q1 Update
AT&T reported 25Q1 GAAP EPS of $0.61, compared with $0.41 in the prior year period. Non-GAAP EPS of $0.51 was up from $0.48. I had projected GAAP EPS of $0.39 and non-GAAP EPS of $0.49.
Continue reading →AT&T (T) 24Q3 Update
AT&T reported a 24Q3 GAAP loss of $0.03 per share, reversing last year’s $0.48 profit and falling short of my $0.56 estimate. The loss was entirely due to a $4.4 billion impairment charge taken against its Business Wireline…
Continue reading →AT&T (T) 23Q4 Update
AT&T reported 23Q4 GAAP EPS of $0.30, compared with last year’s loss of $3.20. My estimate was $0.55. The shortfall vs. my estimate was due to a $589 million impairment charge, lower gross margin, higher SG&A expense and…
Continue reading →AT&T (T) 23Q3 Update
AT&T reported 23Q3 GAAP EPS of $0.48, below last year’s $0.79 and also below my estimate of $0.55. The primary cause of the shortfall vs. my estimate was a $604 million charge for impairments and restructuring that included…
Continue reading →Initiating Coverage on AT&T (T)
AT&T reported 23Q2 results that slightly exceeded guidance and consensus estimates. The results also raised confidence that the company can achieve its 2023 free cash flow target of $16 billion.
Continue reading →2022 Large Cap Performance Analysis
Large cap stocks, as measured by the Lark Research Large Cap Index (the “Index”)[1] which mirrors the S&P 500, posted a decline of 19.5% in 2022. As in previous years, most of the performance was driven by a…
Continue reading →2021 Market Outlook – Part 2: S&P 500 Sector Analysis
2020 was of course dominated by the impact of the pandemic on the economy and specifically on the revenues and profits of each of the S&P 500 constituents. There was a sharp stock market sell-off in March-April, followed…
Continue reading →A Review of AT&T’s Prospects Following the Time Warner Acquisition
AT&T completed its acquisition of Time Warner on June 14, 2018. Under the merger agreement, Time Warner shareholders received $53.75 per share in cash and 1.437 shares of AT&T stock for each TWX share held. In total, Time…
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