TMUS · T-Mobile US Q2 FY2026 earnings call record财报电话会记录

“Core adjusted EBITDA up 12% with industry-leading free cash flow margin of 25%.”

“Turning to service revenues, we continue to expect to deliver full-year service revenues of approximately $77 billion this year, representing 8% growth, with Q3 expectations of approximately $19.3 billion, or up 6% year-over-year.”

“As part of that service revenue guide, we continue to expect strong postpaid ARPA growth of between 2.5% and 3% this year.”

“Finally, we are increasing our adjusted free cash flow guidance to now be between $18.4 billion and $18.8 billion, an increase of $200 million at the midpoint, primarily driven by lower cash income taxes.”

“Turning to shareholder returns, in addition to our dividend, we are also excited to have repurchased an incremental $2.5 billion in Q2 and through July 17th.”

“If you step back, since beginning our share buyback program in late 2022, we have repurchased 253 million shares and reduced total shares outstanding to 1.07 billion.”

“While we continue to execute share buybacks this year, including with our previously increased authorization, we are also thoughtfully maintaining a capital envelope that is considerate of upcoming spectrum opportunities in both 2027 and 2028, including C-Band 2.0 GHz and 2.7 GHz, which represents an opportunity to further cement our network leadership position and provide increased value creation through, for example, additional 5G broadband capacity unlock.”

“However, if you look underneath, remember last year, we also had the acquisitions of UScellular and entered into our fiber JV with the customers coming on board having lower ARPA.”

“That shows you the underlying strength of the business, and so we have absolutely aspirations to continue to take volume and continue to see ARPA growth, and reiterated what we expect to be very strong 2.5%-3% on that ARPA growth for this year.”

“We see such an exciting opportunity here, both in 2027 and 2028 with Chairman Carr's announcement yesterday that 2.7 GHz will be in the 2028 timeline to take this network leadership position that is now beginning to pay dividends in terms of network seekers coming to T-Mobile, in terms of the technology evolution that Dr.”

“One is 2/3 of our customers are in the top 100 markets.”

“Just to add on what André said, 2/3 of our customers are in the top 100, and our shares are lowest in the top 100.”