AT&T Inc. (NYSE:T) Mizuho Technology Conference 2025 June 10, 2025 8:15 AM ET
Company Participants
Pascal Desroches - Senior EVP & CFO
Conference Call Participants
Jennifer Murtaugh Fritzsche - Greenhill & Co., Inc.
Jennifer Murtaugh Fritzsche
[indiscernible] I think I found [indiscernible] safe harbor. It's the perfect way to start this conference. So many of the business panel we're going to hear about the next few days are really [indiscernible]. We'll get into that. But I think [indiscernible] the safe harbor [indiscernible].
Pascal Desroches
Sure thing. If you go into our website, the safe harbor statements on our website [indiscernible] are forward-looking [indiscernible].
Jennifer Murtaugh Fritzsche
Perfect. Well, as I said, Pascal is the Senior EVP and Chief Financial Officer of AT&T, where he's been in since 2021. He has really spearheaded a significant cost transformation effort to strengthen the balance sheet and really [indiscernible] investment of both 5G and fiber. And really this approach by AT&T, I believe, [indiscernible] infrastructure in that both on the wire and wireless side of the business. So let's get started and jump right into it.
Question-and-Answer Session
Jennifer Murtaugh Fritzsche
You all have done an amazing job deleveraging in the past few years. You've already achieved your stated goal of 2.5x in the first quarter, and you've indicated a buyback would be part of the second quarter. Do you have to have an intent to kind of balance the capital allocation priorities now that you've achieved the [ leverage permit ]?
Pascal Desroches
It's true [indiscernible]. We're just so incredibly proud of [indiscernible]. When I look out the next 7 to 8 [indiscernible], there are certain things that I know would be true. One, [indiscernible]. Two, fiber is the very best [indiscernible]. Today, we are at [indiscernible]. And next 5 years, we expect to add [indiscernible]. Over the next few years, [indiscernible] each and every year. And in addition to that, [indiscernible]. So we will invest
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