AT&T Raises 2026 Adjusted EPS Outlook to the $2.40 Range

AT&T raised its 2026 adjusted earnings-per-share outlook to the $2.40 range and lowered its planned annual investment for 2027 and 2028 while reaffirming a 2030 fiber-network goal.

The new adjusted EPS outlook is above the prior range of $2.25 to $2.35. The higher forecast primarily reflects lower depreciation expense after AT&T’s Mexico wireless business was classified as held for sale. Adjusted EPS is a non-GAAP measure.

AT&T agreed on Oct. 13 to transfer the Mexico unit to Grupo Televisa and Fintech Holdings. The deal is expected to close in the first quarter of 2027, subject to conditions and Mexican regulatory approvals. The revised forecast was part of the company’s third-quarter update, which included adjusted EPS of $0.65, compared with $0.54 a year earlier.

AT&T reached 39.7 million consumer and business locations with fiber as of Sept. 30 and expects to pass 40 million by the end of 2026. The count measures network reach, not subscriber numbers. The company’s goal of reaching more than 60 million locations by the end of 2030 was already part of its second-quarter outlook.

Capital investment is expected to range from $23 billion to $24 billion in 2026, then $22 billion to $23 billion annually in 2027 and 2028. The later range is roughly $1 billion lower per year than the company’s previous plan.