Q2 2024 T-Mobile US Inc Earnings Call Transcript
Key Points
- T-Mobile US Inc (TMUS) achieved its highest ever Q2 postpaid phone net adds in company history.
- The company surpassed a major milestone of 100 million customer connections.
- T-Mobile US Inc (TMUS) swept every category for overall network performance in the latest OpenSignal and nuclear tests.
- The fixed wireless broadband offering captured a record share of industry broadband net adds, reaching 5.6 million customers.
- The acquisition of Metronet and partnership with KKR is expected to expand fiber reach to 6.5 million homes by 2030.
- The acquisition of Mobile and Ultra resulted in a one-time prepaid base adjustment of approximately 3.5 million customers.
- The incorporation of Mint and Ultra resulted in approximately $100 million in net additional service revenue, largely offset by SG&A expenses.
- The company expects a year-over-year impact of $350 million to $450 million due to ACP and funding higher postpaid customer on ACP.
- Cash CapEx is expected to be between $8.7 billion and $9 billion, with long-term expectations in the $9 to $10 billion range annually.
- The company anticipates normal seasonal postpaid phone churn trends in the second half, similar to the previous year.
Results discussed on this call can be found in the quarterly result website that Mike discussed .
How everybody Welcome to the call are coming to you for your today. And if you're watching online, you can see on with several members of the senior team ready to discuss the strong quarterly results and our recent news and of course, to take your questions. This T-Mobile team just continues to demonstrate strong execution across the board, and we're taking up our customer growth and cash flow guidance for the full year. Once again, I'm going to begin with a comment on customer growth because this quarter not only represented our highest ever Q2 post pay phone net adds in company history, but we also pushed past a major milestone, 100 million customer connections. This growth was once again balanced geographically across both smaller markets and rural areas and top 100 markets. We also grew our postpaid phone gross adds the highest rate in nearly three years.
And at the same time, we delivered yet another record low upgrade rate this quarter. Speaking to the strength of our customers'
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