AT&T (T) Company Report

AT&T expanded its fiber footprint from 32 million to 36 million locations passed post-Lumen and expects to exceed 40 million by end-2026, driving higher ARPU and lower churn among converged wireless + fiber customers.
Integration of Lumen's 4 million fiber passes (25% penetration, <20% convergence) is underway, with 2026 build plans of 4 million organic and 1 million Lumen locations, ramping to 5 million annual builds from 2027.
Following the EchoStar spectrum acquisition (part of a $30 billion total investment with Lumen), AT&T is modernizing its network to deploy new spectrum by end-2027, with fixed wireless growth set to accelerate post-refresh.
AT&T targets $4 billion in cost savings over 2026–2028 (vs prior $3 billion plan), expects free cash flow to improve sequentially after Q1 headwinds, and full EBITDA accretion from acquisitions by 2028.

4 days ago

Transcript

AT&T outlines fiber expansion, convergence and integration plans

M&A

New Projects/Investments

AT&T grew wireless service revenues >3% and broadband revenues mid-teens in 2025, with ARPU up modestly, underscoring its convergence strategy efficacy.
The company ended 2025 with 32 million fiber locations passed, has risen to 36 million post-Lumen close, and targets >40 million by year-end 2026.
In the Lumen footprint, convergence is under 20% versus over 40% in AT&T’s core markets; converged customers exhibit higher spending, loyalty and brand love.
AT&T plans to ramp organic fiber builds to 4 million locations and Lumen builds to 1 million in 2026, totaling >8 million new passes this year and 5 million annually by 2027.
The company aims to exit 30% of its wireline footprint and end legacy service offerings by end-2026, paving the way for real estate and copper monetization not yet in guidance.

4 days ago

Transcript

AT&T outlines growth strategy at Barclays Communications and Content Symposium 2026

M&A

New Projects/Investments

2025 performance: wireless service revenues grew 3%, broadband revenues were up mid-teens, and ARPU rose modestly, reflecting AT&T’s focus on converged fiber and wireless offerings.
Fiber expansion roadmap: post-Lumen, AT&T now passes 36 million fiber locations and expects to exceed 40 million by end-2026, with ~8 million net new builds this year and a run-rate of 5 million additions annually from 2027.
Lumen acquisition integration: closed early February, adding 4 million passed locations at 25% penetration and < 20% convergence (vs. > 40% in AT&T’s core); equity partnership anticipated in 2H 2026.
Legacy network decommissioning: with FCC approval to halt new legacy service, AT&T plans to exit 30% of its wireline footprint by end-2026, unlocking cost savings and future real estate/copper monetization (not yet factored into guidance).

4 days ago

Transcript

TELUS Digital showcases AI transformation at MWC 2026

Product Launch

New Projects/Investments

TELUS Digital will showcase production-ready AI-driven customer experience and network optimization solutions, featuring 20+ real-world use cases and a 90-minute session on March 4 to outline how to scale AI pilots to enterprise deployments with $100M+ value.
In 2025, TELUS Digital processed over 2 trillion AI model tokens via its Fuel iX generative AI engine for TELUS, demonstrating enterprise-scale AI implementation.
Key offerings include Fuel iX Agent Trainer for faster agent ramp-up, Fuel iX Fortify for automated AI application security testing, and AI-driven network design services, all battle-tested within TELUS before external deployment.
As a wholly-owned subsidiary of TELUS Corporation (TSX: T, NYSE: TU) with 20+ years of telecom leadership, TELUS Digital leverages a “living laboratory” approach to refine AI solutions in real-world scenarios.

4 days ago

Press Release

Telus reports Q4 2025 results and announces CEO succession

Earnings

CEO Change

Guidance Update

Telus will retire CEO Darren Entwistle on June 30, 2026, with Victor Dodig appointed as his successor effective July 1, 2026.
In Q4, Telus achieved 377,000 total telecom customer net additions, contributing to 1.1 million combined mobile and fixed net additions for 2025.
Telus delivered a record CAD 2.2 billion in free cash flow for FY 2025, up 11% year-over-year, alongside industry-leading full-year postpaid mobile phone churn of 0.97%.
For 2026, Telus targets 2–4% consolidated service revenue and adjusted EBITDA growth, CAD 2.3 billion in capital expenditures, and approximately CAD 2.45 billion in free cash flow.

Feb 12, 2026, 6:00 PM

Transcript

TELUS reports Q4 and full year 2025 results

Earnings

Guidance Update

TELUS delivered $5.3 billion in consolidated operating revenues and other income in Q4 2025, with service revenue up 1% year-over-year.
Net customer additions in the quarter totaled 377,000, including 50,000 mobile phones, 287,000 connected devices and 35,000 internet connections.
For full-year 2025, basic EPS grew 9%, net income attributable to common shares rose 12%, cash from operations was $4.9 billion and free cash flow reached $2.2 billion, up 11%.
Executing on deleveraging, TELUS ended 2025 with Net Debt/Adjusted EBITDA of 3.4×, targeting ≤3.3× by year-end 2026 and ~3.0× by end 2027.
2026 financial targets include 2–4% growth in consolidated service revenues and Adjusted EBITDA, approximately $2.3 billion in capex (–10%), and $2.45 billion in free cash flow (+10%).

Feb 12, 2026, 11:45 AM

Press Release

Legrand posts €9.48 bn 2025 revenue on data centre demand

Earnings

Guidance Update

M&A

Legrand’s 2025 revenue rose to €9.48 billion, up 9.6% (7.7% organic), with data centres now generating about €2.4 billion or just over a quarter of sales.
Adjusted operating profit increased by 10.5% to €1.96 billion, yielding an adjusted margin of around 20.6–20.7%.
Net profit grew approximately 6.7% to €1.245 billion, with EPS at €4.705, while reported operating profit climbed to €1.809 billion.
The board has proposed raising the dividend to €2.38 per share (∼50% payout), pending approval at the AGM on May 27, 2026.
Legrand targets 10–15% sales growth in 2026 (constant currency) with a 20.5–21% margin, aims for €15 billion in sales by 2030, and announced two data-centre tuck-ins: Green4T (~€45 million revenue) and Kratos Industries (~US$100 million revenue).

Feb 12, 2026, 7:55 AM

Morningstar

VERSES AI appoints interim CEO

CEO Change

Management Change

Founders Gabriel René and Dan Mapes have resigned, and David T. Scott has been appointed Interim Chief Executive Officer.
The Board has launched a search for a permanent CEO, and Chief Accounting Officer Kevin Wilson has exited the company.
The company will focus on converting its R&D into commercial products with an initial emphasis on financial services revenue.
Near-term initiatives include cost-reduction and operational-efficiency efforts to support commercialization goals.

Feb 10, 2026, 1:39 PM

Press Release

AT&T closes $6.5 billion global notes offering

Debt Issuance

On February 5, 2026, AT&T closed issuance of $6.5 billion aggregate principal of Global Notes: $1.5 billion 4.400% due 2031; $1.25 billion 4.750% due 2033; $1.25 billion 5.125% due 2036; $850 million 5.850% due 2046; and $1.65 billion 6.000% due 2056.
The Notes were issued under the Indenture dated May 15, 2013, and registered under a Form S-3 (No. 333-285413), as supplemented by a prospectus supplement dated January 29, 2026.
BofA Securities, Deutsche Bank Securities, Morgan Stanley & Co., MUFG Securities Americas, TD Securities (USA) and Wells Fargo Securities served as representatives of the underwriting syndicate.

Feb 5, 2026, 9:15 PM

8-K

AT&T announces fiber-to-space network partnership with Amazon

New Projects/Investments

On Feb. 4, 2026, AT&T announced a fiber-to-space partnership with Amazon combining AT&T’s terrestrial fiber with Amazon Leo satellite connectivity and AWS cloud services.
The deal will migrate major AT&T workloads to AWS hybrid cloud, link AWS data centers with high-capacity AT&T fiber, expand fixed broadband and enterprise services, and enhance FirstNet public-safety resilience.
Amazon Leo plans to launch 32 satellites on Feb. 12 and ultimately grow its constellation to 3,236 satellites, positioning the network as a counterweight to SpaceX’s Starlink.
AT&T serves roughly 74 million postpaid and 17 million prepaid phone customers, with its wireless segment driving nearly 70% of revenue, though analyses flagged an Altman Z-Score of ~0.99.