Quarterly guidance

Quarterly guidance
No specific quarterly guidance was given, though management noted that Advanced Home net adds are expected to moderate in Q4 due to seasonal demand.

Annual guidance

Adjusted EPS
Now expects $2.40 range, up from prior outlook of $2.25 to $2.35.
Consolidated service revenue
Continue to expect growth in the low single-digit range.
Consolidated adjusted EBITDA
Now expect growth in the upper portion of the 3% to 4% range.
Free cash flow
Continue to expect $18 billion plus.
Capital investment
Continue to expect $23 billion to $24 billion.
Cash taxes
Now expect $750 million range, compared to prior outlook of $1 billion to $1.5 billion.

Outlook

Fiber deployment
Targeting 60 million plus fiber locations by the end of the decade.
Copper retirement
On track to discontinue copper-based services in 50% of wire centers outside California by the end of 2027.
Net debt
Expect net debt to adjusted EBITDA to return to the 2.5x range during 2029.
Share repurchases
Continue to target approximately $10 billion of share repurchases in 2026.
AI connectivity
Seeing increased demand from hyperscalers and enterprises for high-capacity, low-latency connectivity.
Capital investment efficiency
Expect to reach fiber goals with annual capital investment that is roughly $1 billion lower than previously planned.