T-Mobile US beats by $0.03, beats on revs; increases FY18 Adj-EBITDA, net adds guidance (59.43 -1.08)
- Reports Q1 (Mar) earnings of $0.78 per share, $0.03 better than the Capital IQ Consensus of $0.75; revenues rose 8.8% year/year to $10.46 bln vs the $10.35 bln Capital IQ Consensus.
- 1.4 million total net additions - 20th consecutive quarter with more than 1 million net adds
- Record low 1.07% branded postpaid phone churn, down 11 bps year-over-year
- "On April 27, 2018, our Board of Directors authorized an increase in the total stock repurchase program to $9.0 billion, consisting of the $1.5 billion in repurchases previously completed and for up to an additional $7.5 billion of repurchases of our common stock, allocated as up to $500 million of shares of common stock through December 31, 2018, up to $3.0 billion of shares of common stock for the year ending December 31, 2019 and up to $4.0 billion of shares of common stock for the year ending December 31, 2020, with any authorized but unutilized repurchase capacity for any of the foregoing periods increasing the authorizedrepurchase capacity for the succeeding period by the amount of such unutilized repurchase capacity."
- Outlook:
- In 2018, we expect postpaid net customer additions between 2.6 and 3.3 million, an increase from the prior target range of 2.0 to 3.0 million.
- Adjusted EBITDA is expected to be between $11.4 and $11.8 billion, an increase from the prior target range of $11.3 to $11.7 billion; Increased target for branded postpaid net customer additions of 2.6 to 3.3 million
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