Guidance
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FY2026 Q1
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Отчётный звонок T-Mobile US, Inc.
Вывод Buzzberg
Raised full-year guidance on strong momentum
T-Mobile reported a strong Q1 with postpaid account additions up 6% YoY and raised full-year guidance on EBITDA, FCF, and account growth. Management emphasized widening differentiation versus Verizon and AT&T, progress in fiber JVs, and early potential in physical AI. Postpaid net account additions of 217,000 in Q1, up 6% YoY, with ARPA growth of 3.9%.
Вывод Buzzberg Raised full-year guidance on strong momentum T-Mobile reported a strong Q1 with postpaid account additions up 6% YoY and raised full-year guidance on EBITDA, FCF, and account growth. Management emphasized widening differentiation versus Verizon and AT&T, progress in fiber JVs, and early potential in physical AI. Postpaid net account additions of 217,000 in Q1, up 6% YoY, with ARPA growth of 3.9%. Читать полный анализСвернуть анализ
T-Mobile reported a strong Q1 with postpaid account additions up 6% YoY and raised full-year guidance on EBITDA, FCF, and account growth. Management emphasized widening differentiation versus Verizon and AT&T, progress in fiber JVs, and early potential in physical AI. Postpaid net account additions of 217,000 in Q1, up 6% YoY, with ARPA growth of 3.9%.
- Full-year core EBITDA guidance raised to $37.1-$37.5B, FCF to $18.1-$18.7B, and postpaid net account additions to 950k-1.05M.
- Broadband net adds exceeded 500k, with 5G FWA still seen having runway to 15M homes by 2030.
- Two new fiber JVs announced with GoNetSpeed, Greenlight Networks, and i3 Broadband; management signaled no interest in cable M&A.
Выручка$23.107B-5% к/к
EPS$2.27+21% к/к
Валовая маржа61.8%Факт
Операционная маржа19.46%Факт
6 подтверждённых тезисов
Что важно сейчас
Самые значимые изменения по итогам звонка.
AI
AI-native network apps and physical AI partnership
AI
5G advanced network gives multi-year edge AI advantage
Показать ещё 3 тезиса
Demand
ARPA growth driven by premium plan mix
M&A
Fiber JVs focused on local scale and value
Buybacks
Capital allocation boosted to $18.2 billion
Отчётный период
Фактические результаты
| Показатель | Факт | Изменение |
|---|---|---|
| Выручка | $23.107B | -5% к/к |
| EPS | $2.27 | +21% к/к |
| Валовая маржа | 61.8% | Факт |
| Операционная маржа | 19.46% | Факт |
| Свободный денежный поток | $4.599B | Факт |
| Капзатраты | $2.623B | Факт |
Прогнозные данные
Прогноз компании
| Показатель | Период | Диапазон | Середина | Статус |
|---|---|---|---|---|
| Капзатраты | FY2026 | $10B | $10B | Подтверждён |
| Свободный денежный поток | FY2026 | $18.1B–$18.7B | $18.4B | Повышен |
| Операционная маржаCORE_ADJUSTED_EBITDA | FY2026 | $37.1B–$37.5B | $37.3B | Повышен |
| Операционная маржаCORE_ADJUSTED_EBITDA | FY2026 Q2 | $9.4B | $9.4B | Обозначен |
| ВыручкаSERVICE_REVENUE | FY2026 | $77B | $77B | Подтверждён |
| ВыручкаSERVICE_REVENUE | FY2026 Q2 | $19B | $19B | Обозначен |
| ОбъёмPOSTPAID_NET_ACCOUNT_ADD | FY2026 | 950000–1.05e+06 | 1e+06 | Повышен |
AI, капзатраты и спрос
Оценка менеджмента
Upbeat
Management is upbeat about results and initiatives, emphasizing industry-leading growth, widening differentiation, and confidence in the future, which was reflected in raised guidance and the CEO's closing sentiment that 'we're only at the beginning.'
Оценка AI от менеджмента
Management is building AI capabilities directly into the network core, with the first network-native AI application (live translation) rolling out in beta soon. They see a long-term opportunity for the network to become the connective tissue for physical AI and edge inferencing, with a partnership with Figure AI to connect humanoid robots. They believe their nationwide 5G advanced network gives th
Инвестиции и мощности
Full-year 2026 cash capex guidance is unchanged at approximately $10 billion as the company continues to invest to further differentiate the network. The capex is funding network advancements and AI-capable infrastructure, including edge compute.
все упомянутые компании ниже: 3
Компаниис момента звонка
Конкуренты
Конкуренты
Peter Oswaldek
T-Mobile highlights Verizon's postpaid account losses and ARPA decline as evidence of its own competitive differentiation.
Доказательства
“if you take a look at Verizon, for example, they lost 127,000 postpaid net accounts, and their ARPA was almost down 2% year over year.”
Конкуренты
Peter Oswaldek
T-Mobile points to AT&T's rising churn and EBITDA decline as a sign of weak competitive positioning.
Доказательства
“AT&T just delivered the highest, yet again, the highest year-over-year postpaid phone churn increase in the industry, proving that all the convergence talk is just that, it's talk.”
Цепочка поставок
USM
Цепочка поставок
Mike Katz
T-Mobile is in the final stage of integrating U.S. Cellular's customer base, a process expected to complete by year-end.
Доказательства
“We are now just now beginning into the final, you know, kind of big throws of the customer migration.”
Внешние сигналы
Альфа цепочки поставок · 1с момента звонка
T-Mobile's postpaid account additions accelerated 6% YoY while both Verizon and AT&T lost accounts or saw rising churn, indicating a structural share shift in wireless.
Доказательства
“If you take a look at Verizon, they lost 127,000 postpaid net accounts... AT&T just delivered the highest year-over-year postpaid phone churn increase”
Методология и полнота
Анализ основан только на заявлениях менеджмента. Показаны все подтверждённые упоминания компаний: 3. Фактические результаты и прогнозы разделены. Публичные доказательства ограничены восемью короткими атрибутированными цитатами. AI-анализ может быть неполным или ошибочным — проверяйте важные утверждения по первоисточнику.