AT&T Inc. (T - Free Report) ticked all the boxes it set to achieve in 2019 and reported healthy fourth-quarter results with solid cash flow and adjusted earnings. The company expects to deliver significant progress in its three-year financial allocation plan through continuous improvement in margins and bottom-line growth driven by sustained investments and debt reduction.
Net Income
On a GAAP basis, AT&T reported net income of $2,394 million or 33 cents per share compared with $4,858 million or 66 cents per share in the year-ago quarter. The slump in GAAP earnings despite lower operating costs was primarily attributable to lower revenues, write-off on certain copper facilities and merger and integration-related expenses. For full year 2019, GAAP earnings declined to $13,903 million or $1.89 per share from $19,370 million or $2.85 per share primarily due to higher operating expenses.
Excluding non-recurring items, adjusted earnings for the quarter were 89 cents per share compared with 86 cents in the year-earlier quarter, and exceeded the Zacks Consensus Estimate by a penny. Adjusted earnings for 2019 improved to $3.57 per share from $3.52 in 2018.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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AT&T Inc. (T - Free Report) ticked all the boxes it set to achieve in 2019 and reported healthy fourth-quarter results with solid cash flow and adjusted earnings. The company expects to deliver significant progress in its three-year financial allocation plan through continuous improvement in margins and bottom-line growth driven by sustained investments and debt reduction.
Net Income
On a GAAP basis, AT&T reported net income of $2,394 million or 33 cents per share compared with $4,858 million or 66 cents per share in the year-ago quarter. The slump in GAAP earnings despite lower operating costs was primarily attributable to lower revenues, write-off on certain copper facilities and merger and integration-related expenses. For full year 2019, GAAP earnings declined to $13,903 million or $1.89 per share from $19,370 million or $2.85 per share primarily due to higher operating expenses.
Excluding non-recurring items, adjusted earnings for the quarter were 89 cents per share compared with 86 cents in the year-earlier quarter, and exceeded the Zacks Consensus Estimate by a penny. Adjusted earnings for 2019 improved to $3.57 per share from $3.52 in 2018.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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