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BRIEF-AT&T reiterates FY17 guidance, continues to assess hurricane losses
October 11, 2017 / 10:19 PM / 2 months ago

BRIEF-AT&T reiterates FY17 guidance, continues to assess hurricane losses

Oct 11 (Reuters) - At&T Inc

* Reiterates its full-year 2017 guidance of mid-single digit adjusted earnings growth

* Reiterates its full-year 2017 guidance of adjusted consolidated operating margin expansion, capex in the $22 billion range

* Several devastating hurricanes, earthquakes in Mexico, significantly impacted certain regions of its service area during the third quarter

* Also expect to report nearly 300,000 DirecTV now net adds with total U.S. video subscribers down about 90,000 for the third quarter‍​

* Damage to network, other property, costs to restore services, among others to decrease reported Q3 2017 consolidated revenues nearly $90 million

* Reiterates full-year 2017 guidance of free cash flow at low end of $18 billion range‍​

* Expect further reductions in the fourth quarter as co continue to assess damage to co’s network and fully restore service

* Impact from hurricanes and earthqauakes to decrease reported Q3 pre-tax earnings about $210 million, or $0.02 per diluted share

* Effective July 1, 2017, are reporting prepaid internet of things connections as a separate class within subscriber categories

* FY2017 earnings per share view $2.94 -- Thomson Reuters I/B/E/S

* Reporting prepaid IoT connections as separate class to result in 97,000 additional prepaid net adds in quarter

* Reporting prepaid IoT connections as separate class to result in a corresponding decline in connected device net adds in qtr‍​ Source text for Eikon: (bit.ly/2yFpPiF) Further company coverage:

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