New Street Research - T-Mobile US Inc. (TMUS) T-Mobile 3Q23 Quick Take

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New Street Research

Jonathan Chaplin

EUR 8533.00 For Business Accounts Only

T-Mobile 3Q23 Quick Take

We were ahead of consensus on all metrics before this morning. Results beat our estimates on every metric by a little and they beat consensus metrics on every metric by a lot. The standouts were EBITDA relative to consensus (beat by 2%), FCF relative to consensus (beat by 3%), postpaid phone adds of 850k (consensus 777k), and FWA adds of 557k (consensus 493k). The Company increased guidance marginally for postpaid adds, EBITDA, capex, and FCF. We cover results and readthrough in a shorter than normal analysis this morning (because the call is at 8AM).

25/10/2023 1 EN

Underlying

T-Mobile US Inc.

T-Mobile US provides mobile communications services, including voice, messaging and data, under its brands, T-Mobile and Metro? by T-Mobile, in the United States, Puerto Rico and the United States Virgin Islands. The company provides mobile communications services using its 4G Long-Term Evolution network and its 5G technology network. The company also provides various wireless devices, including handsets, tablets and other mobile communication devices, and accessories for sale, as well as financing through Equipment Installment Plans and leasing through JUMP! On Demand?. The company provides reinsurance for handset insurance policies and extended warranty contracts offered to its mobile communications customers.

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US8725901040 NASDAQ Stock Market United States

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Analysts

Jonathan Chaplin

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T-Mobile 3Q23 Quick Take

T-Mobile US Inc: 1 director

T-Mobile: Quick thoughts following the 1Q25 call

T-Mobile's most recent price moves suggest rising competition

Microsoft vs. OpenAI: Implications for investors?

SATS, Carr, and the Art of the No Deal…Yet

Supreme Court Upholds USF Framework but Reform Still Ahead

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