NEW YORK, June 9, 2026, 09:02 EDT
- AT&T kept its 2026 and long-term outlook unchanged ahead of CFO Pascal Desroches’ talk at the Mizuho Technology Conference.
- Pre-market indications showed shares at about $22.58, up from Monday’s $22.50 close.
- Shares continue to face pressure from worries about SpaceX. Oppenheimer said last week satellite broadband could hit older telecom stocks.
AT&T Inc. traded up in pre-market hours Tuesday. The company held to its 2026 targets and said it still aims to send more than $45 billion back to shareholders with dividends and buybacks from 2026 to 2028. AT&T shares were up 0.36% at $22.58 before the market opened, after closing Monday at $22.50 on the NYSE.
Timing is a factor. AT&T has come under renewed pressure following a steep drop blamed on satellite-broadband concerns, and this latest update provides investors with a new data point on cash flow ahead of the company’s second-quarter earnings report next month.
AT&T kept its forecast for second-quarter free cash flow between $4.0 billion and $4.5 billion. Free cash flow, after operations and capital spending, matters for AT&T’s dividend, stock buybacks and cutting debt.
AT&T is sticking with its forecast for better growth in adjusted EBITDA and adjusted earnings per share through 2028. Adjusted EBITDA takes out interest, taxes, depreciation, amortization and certain company-defined items. The company also said it expects its net debt-to-adjusted EBITDA ratio to get back to the 2.5 times range in about three years after it wraps up the EchoStar deal.
AT&T CFO Desroches had a spot on the schedule for the Mizuho Technology Conference at 9:00 a.m. ET. The company’s next earnings release is set for July 22, before the bell, when it posts its second-quarter numbers.
Futures for Wall Street pointed higher, Reuters said, with the Dow ahead 0.21%, S&P 500 futures up 0.36% and Nasdaq 100 futures climbing 0.7%. Chip shares kept rising and worries over the Middle East calmed, helping the broader tape.
Pressure is staying high. Verizon, AT&T and T-Mobile said in May they were teaming up on a satellite-based joint venture targeting rural “dead zones.” That’s the same turf Starlink and other low-earth-orbit network players are looking to grow into. Reuters
The risk is still on the table: if satellite broadband drops prices more quickly or grabs more home-internet users than expected, AT&T’s fiber and wireless growth could hit a wall, leaving the company with less flexibility for cutting debt and paying out capital. Oppenheimer flagged last week that SpaceX might shake up the $1.6 trillion U.S. communications sector, with analyst Timothy Horan cautioning that “longer-term broadband subscriber growth and eventually mobile” could face pressure from low-earth-orbit satellite networks. Reuters
AT&T is betting on fiber. CEO John Stankey last month told Barron’s that satellite is useful in remote spots, but said, “I don’t think satellite is a substitute” for AT&T’s network speed and reliability. Barron’s
AT&T is looking to cut costs by moving older networks out of its base. In California, the company said it will put $19 billion into investment through 2030, with plans for fiber to reach over 4 million more homes and businesses and to add more than 1,200 new cell sites. AT&T is also seeking to retire copper-based phone service in parts of the state.
AT&T held its ground on the first-quarter base, which kept analysts talking. The company posted $31.5 billion in revenue and $11.8 billion adjusted EBITDA. Free cash flow was $2.5 billion for the quarter. Postpaid phone net adds came in at 294,000, and advanced-connectivity internet added 584,000 lines.
AT&T shares are little changed. The company kept its 2026 cash plan in place but didn’t lift guidance.
