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Mar 31, 2021
T-Mobile Q1 2021 Earnings Report
T-Mobile reported industry-leading customer growth and strong financial results, leading to raised 2021 guidance.
Key Takeaways
T-Mobile's Q1 2021 results were highlighted by industry-leading total net additions, postpaid net additions, and postpaid phone net additions. The company also reported strong financial results and raised 2021 guidance.
Total net additions of 1.4 million, best in industry.
Postpaid net additions of 1.2 million, best in industry.
Total revenues of $19.8 billion and service revenues of $14.2 billion.
Net income of $933 million, diluted earnings per share (“EPS”) of $0.74.
Revenue by Segment
Forward Guidance
T-Mobile raises 2021 outlook for postpaid net customer additions, Core Adjusted EBITDA, cash purchases of property and equipment, Merger-related costs, net cash provided by operating activities, and Free Cash Flow.
Positive Outlook
- Postpaid net customer additions are expected to be between 4.4 million and 4.9 million, an increase from prior guidance of 4.0 million to 4.7 million.
- Core Adjusted EBITDA is expected to be between $22.8 billion and $23.2 billion, an increase from prior guidance of $22.6 billion to $23.1 billion.
- Cash purchases of property and equipment, including capitalized interest are expected to be at the high end of the prior guidance range of $11.7 billion to $12.0 billion.
- Net cash provided by operating activities, including payments for Merger-related costs, is expected to be between $13.2 billion and $13.6 billion, an increase from prior guidance of $13.0 billion to $13.5 billion.
- Free Cash Flow, including payments for Merger-related costs, is expected to be between $5.1 billion and $5.5 billion, an increase from prior guidance of $4.9 billion to $5.4 billion.
Challenges Ahead
- Merger-related costs are expected to be between $2.7 billion and $3.0 billion before taxes, an increase from prior guidance of $2.5 billion to $3.0 billion as the company executes faster on merger integration.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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