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canonical_url: https://www.stockexpertai.com/earnings/t
last_updated: 2026-07-26T06:13:47.383Z
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# AT&T Inc. (T) Q3 FY2026 Earnings Preview

> This content was automatically generated with FMP live data + Q2 FY2026 earnings call transcript. Generated: 2026-07-26T06:13:45.894Z. Educational tool, not investment advice.

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## Quick Summary

| Field | Value | Source |
|---|---|---|
| Price | $24.13 (▲ 5.10%) | fmp:quote |
| Market Cap | $165.3B | fmp:profile |
| 52w range | $19.89 – $29.79 | fmp:quote |
| Earnings | Wed 28 Oct | fmp:earnings-history |
| EPS estimate | $0.62 (+15% YoY) | fmp:earnings-estimate |
| Revenue estimate | $31.8B | fmp:earnings-estimate |
| Beat streak | 8/4 | fmp:earnings-history |
| Rating | A- (overall 4/5) | fmp:ratings |
| Analyst median target | $29 (+20.2% upside) | fmp:price-target-consensus |
| Historical V1 score | 47/100 | derived |
| Council | 3/6 bullish | derived |
| Munger verdict | Fairly Valued | derived |

## AT&T Inc. — Q3 FY2026 Expectations

Q3 consensus: revenue **$31.8B**[FMP est], EPS **$0.62**[FMP est]. 8 consecutive quarters of beat[FMP earnings].

## Quick Take

**Score:** A- · **Council:** 3/6 · **Historical V1 score:** 47

FMP rating [FMP ratings]. Form 4: unavailable[FMP Form 4].

## Watchlist (0 metrics)

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## Historical V1 earnings-model pillars (not the current MoonshotScore)

| Pillar | Score | Level | Evidence |
|---|---|---|---|
| Revenue Growth | 1.0 | weak | Q2 vs Q3: growth slowing (+2.8%, below threshold) |
| Gross Margin | 6.0 | medium | Q2: high margin (61.8%) |
| Operating Leverage | 2.0 | weak | op margin healthy (22.3%) |
| Cash Runway | 8.0 | strong | FCF positive but absorbed ($5.2B vs $5.7B CapEx) |
| R&D Intensity | 3.0 | weak | low R&D investment (0.0%, weak innovation) |
| Price Momentum | 7.0 | strong | RSI 68.4 positive momentum, 50d above |
| News Sentiment | 6.0 | medium | majority buy (59%) |

**Formula:** sum(pillar.score) / (count * 10) * 100. Each pillar deterministic from FMP. Source maps in pillar.formula.

## Council (7-Lens)

| Name | Stance | Context |
|---|---|---|
| Ray Dalio | bull | macro · target upside +20.2% |
| Ken Griffin | bull | flow · 50d MA above |
| Jim Simons | neutral | quant · RSI 68 |
| Klarman | neutral | value · target upside +20.2% |
| Buffett | bull | quality · ROE score 4/5 |
| Munger | neutral | valuation · target upside +20.2% |

**Formula:** Each lens uses deterministic rule on bundle data. Logged in member.contextTr.

## Munger Lens

- **Verdict:** Fairly Valued
- **Financial Health:** Strong
- **Margin of Safety:** Moderate
- **Interest Coverage:** Adequate
- **ROIC vs WACC:** Healthy

**Formula:** verdict=upside>25?Undervalued:>0?Fairly Valued:Overvalued. Each lens deterministic from FMP ratings + priceTarget.

## Technical Levels

- **RSI(14):** 68.4
- **50d MA:** $23
- **200d MA:** $25
- **Volume (10d):** -16%

## Past Performance (4 Quarters)

| Quarter | EPS Actual | EPS Estimate | Result | Next-day price move |
|---|---|---|---|---|
| Q3 FY25 | $0.54 | $0.54 | IN LINE | -3.6% |
| Q4 FY25 | $0.52 | $0.46 | BEAT | +4.4% |
| Q1 FY26 | $0.57 | $0.55 | BEAT | +2.4% |
| Q2 FY26 | $0.65 | $0.59 | BEAT | -0.3% |

Q2 FY26 (July 22, 2026) EPS $0.65 vs $0.59 estimate: beat (+10.2%)[FMP]. Stock move on D+1: -0.3%[FMP D+1].

## 3 Scenarios

### Scenario A · Beat
**Q3 EPS > $0.62 + CapEx discipline**

Threshold: EPS > $0.62[FMP est].

Target: Break above median target $29[FMP target]; high target $33[FMP] upper bound.

### Scenario B · In-Line
**EPS ≈ $0.62 + CapEx < $5.7B**

Threshold: EPS ≈ $0.62[FMP est], Q1 CapEx < $5.7B[FMP].

Target: Consolidation in the band between current $24[FMP] and median $29[FMP].

### Scenario C · Miss
**EPS < $0.60 or CapEx ≥ $5.7B**

Threshold: EPS < $0.60[FMP est×0.97].

Target: Current $24 below SMA200 $25[FMP], if rejection continues, $21[derived] support activates.<br>Current price $24 — below SMA200 $25 [FMP].

## Risk Notes

### Primary segment below threshold
Q2 FY26 EPS $0.65 vs $0.59 estimate: beat (+10.2%)[FMP]. Stock move on D+1: -0.3%[FMP D+1].

### Backlog concentration
No RPO/backlog concentration disclosed in Q2 earnings call.

### Insider trading
Form 4 data is marked in the table — this page does not generate assumptions for this stock.

| Executive | Action | Amount | Date |
|---|---|---|---|


**Net:** unavailable

### CapEx shock
Q2 CapEx $5.7B[FMP cashflow]. Q2 op margin 22.3%[FMP op margin] — this level in Q1 is sensitive to CapEx revision risk.

## Wall Street Consensus


| Metric | Value |
|---|---|
| Median target | $29 (+20.2% upside vs current $24) |
| High / Low | $33 / $20 |
| Buy / Hold / Sell | 16 / 10 / 1 |
| Price targets | 9 (last quarter), 85 all-time |
| Ratings | 27 |

## Additional Transcript Insights

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*Data source: FMP (live query, 2026-07-26), Q2 FY2026 earnings call transcript (Translated to EN with Gemini 2.0 Flash). Educational tool, not investment advice.*