T-Mobile held an earnings call today for its Q4 and full 2023 results. In the call, the Un-carrier shared record-breaking results with industry-best growth in service revenues, profitability and cash flow in 2023.
As a result of the numbers it earned, T-Mobile was able to deliver $14.0 billion to its stockholders in 2023. In a separate release, the Un-carrier declared a $0.65 per share cash dividend on its issued and outstanding shares of common stock. This is payable on March 14, 2024 to stockholders.
T-Mobile CEO, Mike Sievert, had this to say about the year’s results:
“This was a historic year for T-Mobile, with record outcomes across nearly every metric and industry-leading customer results – including our highest share of postpaid phone net adds since the merger and best-in-class growth in service revenues, profitability and cash flow – all while effectively completing the largest, most successful telecom integration in the world. What’s really exciting is that while we’ve delivered fantastic results, we’ve also got room to run. Thanks to the unmatched value and network leadership that we’ve built, we’re entering a phase of enormous value creation with a plan to deliver sustained customer and financial growth leadership. This is just the beginning of the next chapter for the Un-carrier.”
Some important numbers that T-Mobile pointed out:
- Postpaid phone net adds of 934K in Q4 – 3.1M in FY, highest gross adds and lowest annual churn in company history.
- Postpaid net customer adds of 1.6M in Q4 – 5.7M in FY, best in industry for 9th year in a row. Q4 results includes increase in deactivations of lower ARPU data devices in Education sector that are no longer needed post-pandemic.
- Postpaid net account adds of 299K in Q4 – 1.3M in FY, best in industry.
- High Speed Internet (HSI) net customer adds of 541K in Q4 – 2.1M in FY, best in industry and highest in company history.
- Service Revenues of $16.0B in Q4– $63.2B in FY, industry-leading growth of 3% YoY.
- Postpaid Service Revenue of $12.5B in Q4 – $48.7B in FY, industry-leading growth of 6% YoY.
- Core Adj. EBITDA of $7.2B in Q4 – $29.1B in FY, industry-leading growth of 10% YoY. Q4 result reflects growth investments that drove industry-leading customer results and sets up strong outlook for 2024.
- Adj. Free Cash Flow of $4.3B in Q4 – $13.6B in FY, industry-leading growth of 77% YoY.
- Diluted Earnings per Share (EPS) of $1.67 in Q4 – $6.93 in FY, industry-leading growth of 236% YoY. Q4 result reflects accelerated depreciation expense on certain technology assets and the impact of 48.8M shares issued to SoftBank Group (higher outstanding shares lowers EPS).
You can read the full report here.