T-Mobile Announces Quarterly and 2022 Annual Earnings

T-Mobile announced its quarterly and annual earnings yesterday, saying it achieved a huge milestone by substantially completing the Sprint network decommissioning in Q3 2022, less than 2.5 years post-merger closing, and more than a year ahead of the original merger plan. The company expects to substantially complete its integration by the end of 2023. 

“With record postpaid accounts and customer net adds that translated into industry-leading postpaid service revenue and cash flow growth, T-Mobile absolutely smashed 2022 by once again focusing on putting customers first,” said Mike Sievert, CEO of T-Mobile. “In true Un-carrier fashion, we have no plans to slow down in 2023. Now that we are being recognized as not only the 5G leader but the clear overall network leader in the U.S., our differentiated and sustainable growth strategy is opening up even bigger pathways for our future!”   

Although total revenue fell 2.5 percent to $20.27 billion in the fourth quarter it added 927,000 monthly bill-paying phone subscribers over that period. Its net income rose to $1.48 billion, or $1.18 per share, from $422 million, or 34 cents per share, a year earlier.

“What can T-Mobile do for an encore?” Craig Moffett of MoffettNathanson asked rhetorically. “T-Mobile’s 2023 subscriber guidance starts precisely where their 2022 guidance started, with an expected gain of 5.0 to 5.5M postpaid net adds. Their cash EBITDA guidance for 2023 calls for approximately a 10 percent YoY improvement. And their guidance for 2023 implies roughly 75 percent YoY free cash flow growth. All fine… and all more or less already in the stock price,” Moffett said.

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