AT&T (T) Tops Q3 EPS by 1c, Offers 2020 and 2022 Guidance, 3-Year Capital Allocation Plan
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AT&T Announces 3-Year Financial Guidance and Capital Allocation Plan
October 28, 2019 6:51 AM EDTAdjusted EPS1 growth: $4.50 to $4.80 by 2022; includes HBO Max investment Revenue growth every year: 1% to 2% three-year CAGR2 Adjusted EBITDA3 margin expansion: By 2022, 200 bps higher than 2019 levels; targeting 35% margins in 2022 Free cash flow: $30 billion - $32 billion in 2022 Dividend growth: Continued modest annual increases; dividends as % of free cash flow less than 50%4 in 2022 Capital Allocation: 50% - 70% of free cash flow post-dividend for retiring ~70% of shares issued for Time Warner deal Debt: Pay off 100% of... More
