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T‑Mobile Delivers Industry‑Leading Growth in Customers, Service Revenues and Profitability in Q2, Raises 2024 Customer and Cash Flow Guidance

31 de julio de 2024
Un‑carrier Delivers Best Q2 Postpaid Phone Net Customer Additions in Company History
And Maintains Network Leadership with Largest, Fastest and Most Advanced 5G Network
Lectura de 15 min.

Industry-Leading Customer Growth Fueled by Best Network and Best Value Combination(1)

  • Postpaid net account additions of 301 thousand, best in industry
  • Postpaid net customer additions of 1.3 million, best in industry, crossed 100 million postpaid customers milestone
  • Postpaid phone net customer additions of 777 thousand, best in industry, highest Q2 in company history, and postpaid phone churn of 0.80%
  • High Speed Internet net customer additions of 406 thousand, best in industry, highest share of industry net additions ever

Translating Industry-Leading Customer Growth Into Industry-Leading Financial Performance

  • Service revenues of $16.4 billion grew 4% year-over-year, best in industry growth
  • Postpaid service revenues of $12.9 billion grew 7% year-over-year, best in industry growth
  • Net income of $2.9 billion grew 32% year-over-year, best in industry growth
  • Diluted earnings per share (“EPS”) of $2.49 grew 34% year-over-year, best in industry growth
  • Core Adjusted EBITDA(2) of $8.0 billion grew 9% year-over-year, best in industry growth
  • Net cash provided by operating activities of $5.5 billion, record high and grew 27% year-over-year
  • Adjusted Free Cash Flow(2) of $4.4 billion, record high and grew 54% year-over-year
  • Returned $3.0 billion to stockholders in Q2 2024, including repurchases of $2.3 billion of common stock and a quarterly dividend payment of $759 million

Overall Network Leader with Largest, Fastest and Most Advanced 5G Network

  • Swept every category for overall network performance in the latest third-party reports, including most consistent overall network and highest ranking consumer sentiment from Ookla and ranking first for all overall network experience metrics from Opensignal
  • 87% of 5G traffic carried on sites with three spectrum layers, delivering an incredibly consistent network experience

Bellevue, WA — July 31, 2024 — T-Mobile US, Inc. (NASDAQ: TMUS) reported second quarter 2024 results today, raising full-year customer and cash flow guidance while delivering industry-leading customer growth across the board, including crossing the 100 million postpaid customers milestone and the highest Q2 postpaid phone net customer additions in company history. The company translated best-in-class customer growth into industry-leading growth in service revenues and profitability, and delivered record cash flows while returning $3.0 billion to stockholders in Q2. The Un-carrier continues to drive outsized growth in broadband with its highest share of industry net additions ever in Q2, while complementing existing fixed wireless offerings with unique, value-accretive, capital-efficient opportunities in fiber, like the company’s recent proposed acquisition of Metronet, the nation’s fastest growing pure-play fiber provider.

"It was another industry-leading quarter for T-Mobile as our continued focus on delivering customers more value and a superior network experience enabled us to outperform our peers in the marketplace and translated into outsized financial growth," said Mike Sievert, CEO of T-Mobile. "Our formula is continuing to work and we've got a lot of room to run including pursuing new growth opportunities that bring the Un-carrier experience to more customers and new markets. This incredible momentum makes us even more excited for what's next for T-Mobile, and our confidence is reflected in our raised guidance for the full year ahead."

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(1) AT&T Inc. does not disclose postpaid net account additions. Comcast and Charter do not disclose postpaid phone net customer additions. Industry-leading claims are based on consensus expectations if results are not yet reported.
(2) Core Adjusted EBITDA and Adjusted Free Cash Flow are non-GAAP financial measures. Estos indicadores financieros no asociados con los GAAP deben ser considerados como información adicional y no sustitutiva de la información provista de conformidad con los GAAP. Reconciliations for these non-GAAP financial measures to the most directly comparable GAAP financial measures are provided in the Reconciliation of Non-GAAP Financial Measures to GAAP Financial Measures tables. We are not able to forecast Net income on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect Net income, including, but not limited to, Income tax expense and Interest expense. Core Adjusted EBITDA should not be used to predict Net income as the difference between this measure and Net income is variable.

Industry-Leading Customer Growth Fueled by Best Network and Best Value Combination(1)

  • Postpaid net account additions of 301 thousand increased 2 thousand year-over-year.
  • Postpaid net customer additions of 1.3 million decreased 223 thousand year-over-year.
  • Postpaid phone net customer additions of 777 thousand increased 17 thousand year-over-year. Postpaid phone churn of 0.80% increased 3 basis points year-over-year.
  • Prepaid net customer additions of 179 thousand increased 55 thousand year-over-year. Prepaid churn of 2.54% improved 8 basis points year-over-year, inclusive of the impact of the Ka’ena acquisition.(3)
  • High Speed Internet net customer additions of 406 thousand decreased 103 thousand year-over-year. T-Mobile ended the quarter with 5.6 million High Speed Internet customers.
  • Total net customer additions of 1.5 million decreased 168 thousand year-over-year. Total customer connections increased to a record high of 125.9 million.

(1) AT&T Inc. does not disclose postpaid net account additions. Comcast and Charter do not disclose postpaid phone net customer additions. Industry-leading claims are based on consensus expectations if results are not yet reported.
(2) Includes High Speed Internet customers.
(3) In the second quarter of 2024, we acquired 3,504,000 prepaid customers through our acquisition of Ka’ena, which includes the impact of certain base adjustments to align the policies of Ka’ena and T-Mobile.

Translating Industry-Leading Customer Growth Into Industry-Leading Financial Performance(1)

  • Total service revenues of $16.4 billion increased 4% year-over-year, and Postpaid service revenues of $12.9 billion increased 7% year-over-year.
  • Net income of $2.9 billion increased 32% year-over-year.
  • Diluted EPS of $2.49 per share increased 34% year-over-year.
  • Core Adjusted EBITDA of $8.0 billion increased 9% year-over-year.
  • Net cash provided by operating activities of$5.5 billionincreased 27% year-over-year, which included cash payments for Merger-related costs of $241 million.
  • Cash purchases of property and equipment, including capitalized interest, of $2.0 billion decreased 27% year-over-year.
  • Adjusted Free Cash Flow of $4.4 billion increased 54% year-over-year, which included cash payments for Merger-related costs of $241 million.
  • Stockholder Returns included 14.0 million shares of common stock repurchased for $2.3 billion in Q2 2024, with 150.2 million cumulative shares repurchased for $22.1 billion as of June 30, 2024. The remaining authorization for stock repurchases and quarterly cash dividends as of June 30, 2024 is $8.7 billion through December 2024, with the next dividend payable on September 12, 2024.

(1) Industry-leading claims are based on consensus expectations if results are not yet reported.

Overall Network Leader with Largest, Fastest and Most Advanced 5G Network

T-Mobile's network breadth, depth and technology leadership is expected to keep the company years ahead of the competition with total 5G and Ultra Capacity 5G coverage area that continues to far exceed that of the next closest competitor. The company's unique multi-layer approach to 5G, with dedicated standalone 5G deployed nationwide across 600MHz, 1.9GHz, and 2.5GHz, delivers customers a consistently strong experience and 87% of 5G traffic is on sites with all three spectrum bands deployed.

T-Mobile’s 5G leadership has translated into overall network leadership, with the company continuing to earn third-party recognition for its overall network performance:

  • Ookla: In its Speedtest Connectivity United States 1H 2024 report, T-Mobile ranked as the top network performer in seven categories, including wins for fastest overall and 5G network and most consistent overall network, along with best overall and 5G mobile video experience, best gaming experience and highest ranking consumer sentiment.
  • Opensignal: In its latest USA Mobile Network Experience report, T-Mobile ranked first for all overall network experience metrics while also earning additional wins for 5G with the fastest 5G download speeds, best 5G coverage experience and best 5G availability.

Note: See 5G device, coverage, and access details at T-Mobile.com. Ookla awards: Based on analysis by Ookla® of Speedtest Intelligence® data for the U.S., 1H 2024. Las marcas comerciales de Ookla se usan bajo licencia y se reimprimen con autorización. Opensignal Awards: USA: Mobile Network Experience Report July 2024, based on independent analysis of mobile measurements recorded during the period March 1 - May 29, 2024. © 2024 Opensignal Limited.

Raising 2024 Customer and Cash Flow Guidance

  • Postpaid net customer additions are expected to be between 5.4 million and 5.7 million, an increase from prior guidance of 5.2 million to 5.6 million.
  • Core Adjusted EBITDA, which is Adjusted EBITDA less lease revenues, is expected to be between $31.5 billion and $31.8 billion, versus prior guidance of $31.4 billion to $31.9 billion.
  • Net cash provided by operating activities, including payments for Merger-related costs, is expected to be between $21.8 billion and $22.2 billion, an increase at the midpoint from prior guidance of $21.6 billion to $22.3 billion.
  • Cash purchases of property and equipment, including capitalized interest, are expected to be between $8.7 billion and $9.1 billion, versus prior guidance of $8.6 billion to $9.4 billion.
  • Adjusted Free Cash Flow, including payments for Merger-related costs, is expected to be between $16.6 billion and $17.0 billion, an increase from prior guidance of $16.4 billion to $16.9 billion. Adjusted Free Cash Flow guidance does not assume any material net cash inflows from securitization.

(1) T-Mobile is not able to forecast Net income on a forward-looking basis without unreasonable efforts due to the high variability and difficulty in predicting certain items that affect GAAP Net income, including, but not limited to, Income tax expense and Interest expense. Core Adjusted EBITDA should not be used to predict Net income as the difference between this measure and Net income is variable.
(2) Management uses Core Adjusted EBITDA as a measure to monitor the financial performance of Company operations, excluding the impact of lease revenues from related device financing programs. Guidance ranges assume lease revenues of approximately $100 million for 2024.
(3) Capital expenditures means cash purchases of property and equipment, including capitalized interest.
(4) Adjusted Free Cash Flow guidance does not assume any material net cash inflows from securitization in 2024.

Resultados financieros

For more details on T-Mobile’s Q2 2024 financial results, including the Investor Factbook with detailed financial tables, please visit T-Mobile US, Inc.’s Investor Relations website at https://investor.t-mobile.com.

Earnings Call Information

Fecha/hora

  • Wednesday, July 31, 2024, at 8:00 a.m. (EDT)

Pre-registration link for dial-in access
Participants can pre-register for the conference call here in order to receive dial-in information.

Access via Phone (audio only)
Please plan on accessing the call 10 minutes prior to the scheduled start time.

  • Toll Free: 1-866-777-2509
  • International: 1-412-317-5413

Access via Webcast
The earnings call will be broadcasted live and can be replayed via the Investor Relations website at https://investor.t-mobile.com.

Submit Questions via X

Send a post to @TMobileIR or @MikeSievert using $TMUS

Información de contacto

Redes sociales de T-Mobile
Investors and others should note that we announce material financial and operational information to our investors using our investor relations website (https://investor.t-mobile.com), newsroom website (https://t-mobile.com/news), press releases, SEC filings and public conference calls and webcasts. We also intend to use certain social media accounts as a means of disclosing information about us and our services and for complying with our disclosure obligations under Regulation FD (the @TMobileIR X account (https://x.com/TMobileIR), the @MikeSievert X account (https://x.com/MikeSievert), which Mr. Sievert also uses as a means for personal communications and observations, and the @TMobileCFO X account (https://x.com/tmobilecfo), and our CFO’s LinkedIn account (https://www.linkedin.com/in/peter-osvaldik-3887394), both of which Mr. Osvaldik also uses as a means for personal communication and observations). La información que publicamos a través de estos canales de redes sociales puede ser considerada de importancia. En consecuencia, los inversionistas deben monitorear estos canales de redes sociales además de seguir nuestros comunicados de prensa, presentaciones a la SEC y llamadas en conferencia y transmisiones Web públicas. Los canales de redes sociales que pretendemos utilizar como medio para divulgar la información descrita anteriormente se pueden actualizar de vez en cuando como se indica en nuestro sitio Web de Relaciones con inversionistas.

Acerca de T‑Mobile US, Inc.
T-Mobile US Inc. (NASDAQ: TMUS) es El Un-carrier superpoderoso de Estados Unidos con una red 4G LTE avanzada y una transformativa red 5G nacional que ofrecerá conectividad confiable para todos. Los clientes de T‑Mobile reciben una calidad inigualable por su dinero, una firme obsesión por ofrecerles la mejor experiencia de servicio posible y un dinamismo indiscutible para disrumpir el mercado y así crear competencia e innovación más allá del ámbito del servicio móvil. Con sede en Bellevue, Washington, T‑Mobile presta servicios a través de sus subsidiarias y opera sus marcas insignia, T‑Mobile, Metro by T‑Mobile y Mint Mobile. Para obtener más información, visita: https://es.t-mobile.com.

Declaraciones a futuro
This communication includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Todas las declaraciones que no se refieran a hechos históricos, incluyendo información concerniente a los resultados futuros de las operaciones de T-Mobile US, Inc., son a futuro. Estas declaraciones a futuro generalmente se identifican mediante las palabras “anticipar”, “creer”, “estimar”, “suponer”, “pretender”, “puede”, “podría” o expresiones similares.

Las declaraciones a futuro se basan en las expectativas y supuestos actuales, que están sujetos a riesgos e incertidumbres y podrían provocar resultados reales que difieran significativamente de las declaraciones a futuro. Important factors that could affect future results and cause those results to differ materially from those expressed in the forward-looking statements include, among others, the following: competition, industry consolidation and changes in the market for wireless communications services and other forms of connectivity; criminal cyberattacks, disruption, data loss or other security breaches; our inability to take advantage of technological developments on a timely basis; our inability to retain or motivate key personnel, hire qualified personnel or maintain our corporate culture; system failures and business disruptions, allowing for unauthorized use of or interference with our network and other systems; the scarcity and cost of additional wireless spectrum, and regulations relating to spectrum use; the impacts of the actions we have taken and conditions we have agreed to in connection with the regulatory proceedings and approvals of the Transactions (as defined below), including the acquisition by DISH Network Corporation ("DISH") of the prepaid wireless business operated under the Boost Mobile and Sprint prepaid brands (excluding the Assurance brand Lifeline customers and the prepaid wireless customers of Shenandoah Personal Communications Company LLC and Swiftel Communications, Inc.), including customer accounts, inventory, contracts, intellectual property and certain other specified assets, and the assumption of certain related liabilities (collectively, the "Prepaid Transaction"), the complaint and proposed final judgment agreed to by us, Deutsche Telekom AG ("DT"), Sprint Corporation, now known as Sprint LLC ("Sprint"), SoftBank Group Corp. ("SoftBank") and DISH with the U.S. District Court for the District of Columbia, which was approved by the Court on April 1, 2020, the proposed commitments filed with the Secretary of the Federal Communications Commission ("FCC"), which we announced on May 20, 2019, certain national security commitments and undertakings, and any other commitments or undertakings entered into, including, but not limited to, those we have made to certain states and nongovernmental organizations (collectively, the "Government Commitments"), and the challenges in satisfying the Government Commitments in the required time frames and the significant cumulative costs incurred in tracking and monitoring compliance over multiple years; adverse economic, political or market conditions in the U.S. and international markets, including changes resulting from increases in inflation or interest rates, supply chain disruptions, and impacts of geopolitical instability, such as the Ukraine-Russia war and Israel-Hamas war; sociopolitical volatility and polarization; our inability to manage the ongoing commercial services arrangements entered into in connection with the Prepaid Transaction, and known or unknown liabilities arising in connection therewith; the timing and effects of any future acquisition, divestiture, investment, or merger involving us, including our inability to obtain any required regulatory approval necessary to consummate any such transactions; any disruption or failure of our third parties (including key suppliers) to provide products or services for the operation of our business; our substantial level of indebtedness and our inability to service our debt obligations in accordance with their terms; changes in the credit market conditions, credit rating downgrades or an inability to access debt markets; the risk of future material weaknesses we may identify, or any other failure by us to maintain effective internal controls, and the resulting significant costs and reputational damage; any changes in regulations or in the regulatory framework under which we operate; laws and regulations relating to the handling of privacy and data protection; unfavorable outcomes of and increased costs from existing or future regulatory or legal proceedings; difficulties in protecting our intellectual property rights or if we infringe on the intellectual property rights of others; our offering of regulated financial services products and exposure to a wide variety of state and federal regulations; new or amended tax laws or regulations or administrative interpretations and judicial decisions affecting the scope or application of tax laws or regulations; our wireless licenses, including those controlled through leasing agreements, are subject to renewal and may be revoked; our exclusive forum provision as provided in our Certificate of Incorporation; interests of DT, our controlling stockholder, which may differ from the interests of other stockholders; the dollar amount authorized for our 2023-2024 Stockholder Return Program may not be fully utilized, and our share repurchases and dividend payments pursuant thereto may fail to have the desired impact on stockholder value; future sales of our common stock by DT and SoftBank and our inability to attract additional equity financing outside the United States due to foreign ownership limitations by the FCC; and other risks as disclosed in our most recent annual report on Form 10-K, 10-Q and other filings with the Securities and Exchange Commission. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. We undertake no obligation to revise or publicly release the results of any revision to these forward-looking statements, except as required by law.

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