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StructureCraft Scales Data-Driven Design on NetApp
SUNNYVALE, California, July 23 -- NetApp, a provider of software, systems and services to manage and store data, issued the following news release on July 22, 2026:
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StructureCraft Scales Data-Driven Design on NetApp
Structural engineering firm modernizes data infrastructure to support global collaboration
SAN JOSE, Calif. - NetApp(R) (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced that StructureCraft, an award-winning global structural engineering and construction firm known for complex timber and hybrid builds, is now using NetApp to modernize and create ... Show Full Article SUNNYVALE, California, July 23 -- NetApp, a provider of software, systems and services to manage and store data, issued the following news release on July 22, 2026: * * * StructureCraft Scales Data-Driven Design on NetApp Structural engineering firm modernizes data infrastructure to support global collaboration SAN JOSE, Calif. - NetApp(R) (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced that StructureCraft, an award-winning global structural engineering and construction firm known for complex timber and hybrid builds, is now using NetApp to modernize and createan AI-ready data infrastructure. The new infrastructure enables the company's employees to collaborate globally, store and manage large-scale design workloads, and take advantage of AI-driven tools on a scalable, centralized platform.
StructureCraft specializes in innovative timber engineering, structural design, and sustainable building solutions for large-scale architectural projects worldwide. Its globally distributed team delivers complex projects across North America, Europe, and Asia, guided by a core purpose to engineer and build beautiful, efficient structures.
The StructureCraft team regularly takes on complex projects such as designing and constructing of the Barbados National Performing Arts Pavilion, a ground-breaking structure that boasts the world's first 80-foot clear-span all-wood truss, engineered completely without metal screws or fasteners and delivered on a constrained timeline of less than four months from concept to completion. The team worked on the ground in Barbados, needing reliable and speedy access to its main data storage at headquarters.
To achieve these feats of design and engineering, StructureCraft relies on advanced 3D and computational design tools, including AI enabled Rhino 3D, which generate large, complex, file-intensive datasets. As the company grew, it found its previous storage solution made data management unnecessarily complex and could not scale to support future data infrastructure goals. StructureCraft is now running its file shares and virtualized infrastructure fully on NetApp.
"I found NetApp quite easy to work with in my previous experience, so when it was time to replace our data infrastructure, it was a simple choice," said Peter Meschke, IT Manager at StructureCraft. "We run NetApp Snapshots hourly, enabling our designers to recover quickly if a file is damaged or misplaced without losing hours of work. With NetApp's data management and resilience technology, we've simplified our operations, enhanced our resilience, and increased productivity. Now, we have the foundation and confidence we need to focus on driving innovation."
With the initial deployment complete, StructureCraft is looking to consolidate its data operations in a single location to avoid frequent cross-continental data transfers and improve operational efficiency. To take advantage of new technologies, the company is also building StructureCraft OS, a framework that will allow team members to securely build their own AI tools to enhance their workflows, stored on their NetApp data infrastructure.
"Making your data intelligent makes it simple to manage," said Riccardo Di Blasio, Senior Vice President of North America at NetApp. "Companies like StructureCraft are focused on bringing true craftsmanship to their projects, not managing data. By providing a simple and powerful data infrastructure, we enable them to excel at what they do best and build beautiful cultural centers."
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About StructureCraft
We are an award-winning group of structural engineers and master builders working globally to create beautiful and efficient structures. Since our start in 1998, we have developed a practical and technology-forward approach to the structural design of all materials, including steel, concrete, and glass - but particularly of timber, where the structure is exposed as architecture. Visual quality aligned with budget and material efficiency are key considerations as we strive to create excellence in the built environment.
From Abbotsford (CAN), Vancouver (CAN), Seattle (USA) and Trento (Italy), our diverse team of 150+ includes professional engineers, digital designers, and project managers in the office, and a skilled crew of craftsmen in the shop and on site. With over 28 years of experience, we have acted as the structural engineer and builder for over 10 million sqft of structures, including many of North America's most significant mass timber projects.
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About NetApp
For more than three decades, NetApp has helped the world's leading organizations navigate change - from the rise of enterprise storage to the intelligent era defined by data and AI. Today, NetApp is the Intelligent Data Infrastructure company, helping customers turn data into a catalyst for innovation, resilience, and growth.
At the heart of that infrastructure is the NetApp data platform - the unified, enterprise-grade, intelligent foundation that connects, protects, and activates data across every cloud, workload, and environment. Built on the proven power of NetApp ONTAP, our leading data management software and OS, and enhanced by automation through the AI Data Engine and AFX, it delivers observability, resilience, and intelligence at scale.
Disaggregated by design, the NetApp data platform separates storage, services, and control so enterprises can modernize faster, scale efficiently, and innovate without lock-in. As the only enterprise storage platform natively embedded in the world's largest clouds, it gives organizations the freedom to run any workload anywhere with consistent performance, governance, and protection.
With NetApp, data is always ready - ready to defend against threats, ready to power AI, and ready to drive the next breakthrough. That's why the world's most forward-thinking enterprises trust NetApp to turn intelligence into advantage.
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URL: StructureCraft
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Original text here: https://www.netapp.com/newsroom/press-releases/news-rel-20260722-828972/
[Category: BizComputer Technology]
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StructureCraft Scales Data-Driven Design on NetApp
Structural engineering firm modernizes data infrastructure to support global collaboration
SAN JOSE, Calif. - NetApp(R) (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced that StructureCraft, an award-winning global structural engineering and construction firm known for complex timber and hybrid builds, is now using NetApp to modernize and create ... Show Full Article SUNNYVALE, California, July 23 -- NetApp, a provider of software, systems and services to manage and store data, issued the following news release on July 22, 2026: * * * StructureCraft Scales Data-Driven Design on NetApp Structural engineering firm modernizes data infrastructure to support global collaboration SAN JOSE, Calif. - NetApp(R) (NASDAQ: NTAP), the Intelligent Data Infrastructure company, today announced that StructureCraft, an award-winning global structural engineering and construction firm known for complex timber and hybrid builds, is now using NetApp to modernize and createan AI-ready data infrastructure. The new infrastructure enables the company's employees to collaborate globally, store and manage large-scale design workloads, and take advantage of AI-driven tools on a scalable, centralized platform.
StructureCraft specializes in innovative timber engineering, structural design, and sustainable building solutions for large-scale architectural projects worldwide. Its globally distributed team delivers complex projects across North America, Europe, and Asia, guided by a core purpose to engineer and build beautiful, efficient structures.
The StructureCraft team regularly takes on complex projects such as designing and constructing of the Barbados National Performing Arts Pavilion, a ground-breaking structure that boasts the world's first 80-foot clear-span all-wood truss, engineered completely without metal screws or fasteners and delivered on a constrained timeline of less than four months from concept to completion. The team worked on the ground in Barbados, needing reliable and speedy access to its main data storage at headquarters.
To achieve these feats of design and engineering, StructureCraft relies on advanced 3D and computational design tools, including AI enabled Rhino 3D, which generate large, complex, file-intensive datasets. As the company grew, it found its previous storage solution made data management unnecessarily complex and could not scale to support future data infrastructure goals. StructureCraft is now running its file shares and virtualized infrastructure fully on NetApp.
"I found NetApp quite easy to work with in my previous experience, so when it was time to replace our data infrastructure, it was a simple choice," said Peter Meschke, IT Manager at StructureCraft. "We run NetApp Snapshots hourly, enabling our designers to recover quickly if a file is damaged or misplaced without losing hours of work. With NetApp's data management and resilience technology, we've simplified our operations, enhanced our resilience, and increased productivity. Now, we have the foundation and confidence we need to focus on driving innovation."
With the initial deployment complete, StructureCraft is looking to consolidate its data operations in a single location to avoid frequent cross-continental data transfers and improve operational efficiency. To take advantage of new technologies, the company is also building StructureCraft OS, a framework that will allow team members to securely build their own AI tools to enhance their workflows, stored on their NetApp data infrastructure.
"Making your data intelligent makes it simple to manage," said Riccardo Di Blasio, Senior Vice President of North America at NetApp. "Companies like StructureCraft are focused on bringing true craftsmanship to their projects, not managing data. By providing a simple and powerful data infrastructure, we enable them to excel at what they do best and build beautiful cultural centers."
* * *
About StructureCraft
We are an award-winning group of structural engineers and master builders working globally to create beautiful and efficient structures. Since our start in 1998, we have developed a practical and technology-forward approach to the structural design of all materials, including steel, concrete, and glass - but particularly of timber, where the structure is exposed as architecture. Visual quality aligned with budget and material efficiency are key considerations as we strive to create excellence in the built environment.
From Abbotsford (CAN), Vancouver (CAN), Seattle (USA) and Trento (Italy), our diverse team of 150+ includes professional engineers, digital designers, and project managers in the office, and a skilled crew of craftsmen in the shop and on site. With over 28 years of experience, we have acted as the structural engineer and builder for over 10 million sqft of structures, including many of North America's most significant mass timber projects.
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About NetApp
For more than three decades, NetApp has helped the world's leading organizations navigate change - from the rise of enterprise storage to the intelligent era defined by data and AI. Today, NetApp is the Intelligent Data Infrastructure company, helping customers turn data into a catalyst for innovation, resilience, and growth.
At the heart of that infrastructure is the NetApp data platform - the unified, enterprise-grade, intelligent foundation that connects, protects, and activates data across every cloud, workload, and environment. Built on the proven power of NetApp ONTAP, our leading data management software and OS, and enhanced by automation through the AI Data Engine and AFX, it delivers observability, resilience, and intelligence at scale.
Disaggregated by design, the NetApp data platform separates storage, services, and control so enterprises can modernize faster, scale efficiently, and innovate without lock-in. As the only enterprise storage platform natively embedded in the world's largest clouds, it gives organizations the freedom to run any workload anywhere with consistent performance, governance, and protection.
With NetApp, data is always ready - ready to defend against threats, ready to power AI, and ready to drive the next breakthrough. That's why the world's most forward-thinking enterprises trust NetApp to turn intelligence into advantage.
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URL: StructureCraft
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Original text here: https://www.netapp.com/newsroom/press-releases/news-rel-20260722-828972/
[Category: BizComputer Technology]
Marcus & Millichap Arranges $10.8M Sale of 101-Unit Active Senior Multifamily Property in Willits, California
ENCINO, California, July 23 -- Marcus and Millichap issued the following news release on July 22, 2026:
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Marcus & Millichap Arranges $10.8M Sale of 101-Unit Active Senior Multifamily Property in Willits, California
WILLITS, Calif. - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Redwood Meadows, a 101-unit senior multifamily property located at 1475 Baechtel Rd. in Willits, California. The property sold for $10.8 million, or $106,931 per unit.
"Senior ... Show Full Article ENCINO, California, July 23 -- Marcus and Millichap issued the following news release on July 22, 2026: * * * Marcus & Millichap Arranges $10.8M Sale of 101-Unit Active Senior Multifamily Property in Willits, California WILLITS, Calif. - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Redwood Meadows, a 101-unit senior multifamily property located at 1475 Baechtel Rd. in Willits, California. The property sold for $10.8 million, or $106,931 per unit. "Seniorhousing communities with stable occupancy and long-term growth potential continue to attract investor interest across Northern California," said Isaak Heitzeberg, managing director investments. "Redwood Meadows offered a combination of consistent cash flow, the potential to add up to 15 additional units with initial city approval and an assumable loan, making it an attractive long-term investment for a buyer expanding its regional portfolio."
Heitzeberg, of Marcus & Millichap's Sacramento office, represented the seller, TCC Properties. Heitzeberg and Andres Guerra, investment specialist in Marcus & Millichap's Sacramento office, also procured the buyer, Echelon Communities.
Built in 1989, Redwood Meadows is a 101-unit active senior apartment community situated on a 7.18-acre parcel. The property includes four studio units, 58 one-bedroom units and 39 two-bedroom units. Community amenities include a clubhouse, redwood garden, two laundry rooms, rentable storage units, a dog park and new drought-tolerant landscaping.
Located adjacent to the Willits Senior Center, the property provides convenient access to shopping, health care and other services. The site also includes land with initial city approval for up to 15 additional units, offering future expansion potential.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
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Original text here: https://www.marcusmillichap.com/news-events/press/2026/07/7-22---redwood-meadows-senior-apartments
[Category: BizRealEstate]
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Marcus & Millichap Arranges $10.8M Sale of 101-Unit Active Senior Multifamily Property in Willits, California
WILLITS, Calif. - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Redwood Meadows, a 101-unit senior multifamily property located at 1475 Baechtel Rd. in Willits, California. The property sold for $10.8 million, or $106,931 per unit.
"Senior ... Show Full Article ENCINO, California, July 23 -- Marcus and Millichap issued the following news release on July 22, 2026: * * * Marcus & Millichap Arranges $10.8M Sale of 101-Unit Active Senior Multifamily Property in Willits, California WILLITS, Calif. - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of Redwood Meadows, a 101-unit senior multifamily property located at 1475 Baechtel Rd. in Willits, California. The property sold for $10.8 million, or $106,931 per unit. "Seniorhousing communities with stable occupancy and long-term growth potential continue to attract investor interest across Northern California," said Isaak Heitzeberg, managing director investments. "Redwood Meadows offered a combination of consistent cash flow, the potential to add up to 15 additional units with initial city approval and an assumable loan, making it an attractive long-term investment for a buyer expanding its regional portfolio."
Heitzeberg, of Marcus & Millichap's Sacramento office, represented the seller, TCC Properties. Heitzeberg and Andres Guerra, investment specialist in Marcus & Millichap's Sacramento office, also procured the buyer, Echelon Communities.
Built in 1989, Redwood Meadows is a 101-unit active senior apartment community situated on a 7.18-acre parcel. The property includes four studio units, 58 one-bedroom units and 39 two-bedroom units. Community amenities include a clubhouse, redwood garden, two laundry rooms, rentable storage units, a dog park and new drought-tolerant landscaping.
Located adjacent to the Willits Senior Center, the property provides convenient access to shopping, health care and other services. The site also includes land with initial city approval for up to 15 additional units, offering future expansion potential.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit www.MarcusMillichap.com.
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Original text here: https://www.marcusmillichap.com/news-events/press/2026/07/7-22---redwood-meadows-senior-apartments
[Category: BizRealEstate]
Global Commercial Insurance Rates Fall 6% in Q2 2026
NEW YORK, July 23 -- Marsh, a subsidiary of Marsh and McLennan Companies, issued the following news release:
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Global commercial insurance rates fall 6% in Q2 2026; marks eighth consecutive quarterly decline
According to the latest Global Insurance Market Index (GIMI) released today by Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, global commercial insurance rates fell, on average, by 6% in the second quarter of 2026, following a 5% decline in Q1 2026. Property rates declined by 12% while casualty rates increased ... Show Full Article NEW YORK, July 23 -- Marsh, a subsidiary of Marsh and McLennan Companies, issued the following news release: * * * Global commercial insurance rates fall 6% in Q2 2026; marks eighth consecutive quarterly decline According to the latest Global Insurance Market Index (GIMI) released today by Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, global commercial insurance rates fell, on average, by 6% in the second quarter of 2026, following a 5% decline in Q1 2026. Property rates declined by 12% while casualty rates increased2%, driven largely by continued challenges in the US.
Q2 2026 marks the eighth consecutive quarter of rate decreases, which continue to be fueled by abundant capacity and strong insurer competition across all major product lines. Strong insurer profitability, a surplus of capital, lower reinsurance costs, and higher investment returns are intensifying competition and contributing to lower rates.
All global regions experienced year-over-year composite rate decreases in Q2 2026. India, the Middle East and Africa (IMEA) experienced the largest composite rate decrease across all regions, at 16%, the Pacific and Latin America and Caribbean (LAC) regions declined by 13% and 9% respectively. In the UK rates declined by 8%, followed by Canada at 7%, Europe by 6%, and Asia by 5%. The overall composite rate in the US - which declined by 1% in Q1 2026 - fell by 2% in Q2 2026.
Commenting on the report, John Donnelly, President, Global Placement, Marsh Risk, said: "In many markets, in addition to competing based on price, insurers are seeking to differentiate themselves through broader coverage, expanded policy terms, and lower deductibles. While economic uncertainty has led many buyers to retain premium savings, many organizations are also continuing to invest in alternative risk strategies, including captives."
Other findings included:
* Property rates declined by 12% globally, following 9% decreases in Q1 2026 and Q4 2025. Double-digit decreases were recorded in five regions: IMEA (19%); Pacific (15%); LAC (14%); the US (13%); and the UK (11%). Rate decreases were also recorded in Europe (9%), Canada (8%), and Asia (5%).
* Casualty rates increased 2% globally, down from a 3% increase in Q1. All regions experienced rate decreases this quarter except the US, where casualty rates increased by 7% (9% in Q1). US-exposed risks continued to face heightened underwriting scrutiny and pricing pressure; while still available, capacity was increasingly selective, with a strong focus on risk quality and program structure.
* Financial and professional lines rates decreased 3%, compared to a 5% decrease in the prior quarter. Market conditions continued to stabilize following prolonged rate reductions, and underwriting became more selective. Rate reductions were recorded across all regions except the US, where rates increased by 1%, compared to a 2% decrease in the previous quarter.
* Cyber insurance rates declined by 4% globally - the twelfth consecutive quarter of declines - following a 5% decrease in Q1. The largest decline was in IMEA, at 14%, followed by reductions ranging from 10% in LAC to 2% in the US.
Mr. Donnelly added: "Current market conditions are likely to persist absent a severe northern hemisphere storm season or string of major natural catastrophes. This is likely to create additional opportunities for clients to improve coverage and refine program design, that may better position them for future market changes."
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About Marsh
Marsh (NYSE: MRSH) is a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visit corporate.marsh.com, or follow us on LinkedIn and X.
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Original text here: https://www.marsh.com/en/about/media/global-commercial-insurance-falls-6-percent-q2-2026.html
[Category: BizInsurance]
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Global commercial insurance rates fall 6% in Q2 2026; marks eighth consecutive quarterly decline
According to the latest Global Insurance Market Index (GIMI) released today by Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, global commercial insurance rates fell, on average, by 6% in the second quarter of 2026, following a 5% decline in Q1 2026. Property rates declined by 12% while casualty rates increased ... Show Full Article NEW YORK, July 23 -- Marsh, a subsidiary of Marsh and McLennan Companies, issued the following news release: * * * Global commercial insurance rates fall 6% in Q2 2026; marks eighth consecutive quarterly decline According to the latest Global Insurance Market Index (GIMI) released today by Marsh (NYSE: MRSH), a global leader in risk, reinsurance and capital, people and investments, and management consulting, global commercial insurance rates fell, on average, by 6% in the second quarter of 2026, following a 5% decline in Q1 2026. Property rates declined by 12% while casualty rates increased2%, driven largely by continued challenges in the US.
Q2 2026 marks the eighth consecutive quarter of rate decreases, which continue to be fueled by abundant capacity and strong insurer competition across all major product lines. Strong insurer profitability, a surplus of capital, lower reinsurance costs, and higher investment returns are intensifying competition and contributing to lower rates.
All global regions experienced year-over-year composite rate decreases in Q2 2026. India, the Middle East and Africa (IMEA) experienced the largest composite rate decrease across all regions, at 16%, the Pacific and Latin America and Caribbean (LAC) regions declined by 13% and 9% respectively. In the UK rates declined by 8%, followed by Canada at 7%, Europe by 6%, and Asia by 5%. The overall composite rate in the US - which declined by 1% in Q1 2026 - fell by 2% in Q2 2026.
Commenting on the report, John Donnelly, President, Global Placement, Marsh Risk, said: "In many markets, in addition to competing based on price, insurers are seeking to differentiate themselves through broader coverage, expanded policy terms, and lower deductibles. While economic uncertainty has led many buyers to retain premium savings, many organizations are also continuing to invest in alternative risk strategies, including captives."
Other findings included:
* Property rates declined by 12% globally, following 9% decreases in Q1 2026 and Q4 2025. Double-digit decreases were recorded in five regions: IMEA (19%); Pacific (15%); LAC (14%); the US (13%); and the UK (11%). Rate decreases were also recorded in Europe (9%), Canada (8%), and Asia (5%).
* Casualty rates increased 2% globally, down from a 3% increase in Q1. All regions experienced rate decreases this quarter except the US, where casualty rates increased by 7% (9% in Q1). US-exposed risks continued to face heightened underwriting scrutiny and pricing pressure; while still available, capacity was increasingly selective, with a strong focus on risk quality and program structure.
* Financial and professional lines rates decreased 3%, compared to a 5% decrease in the prior quarter. Market conditions continued to stabilize following prolonged rate reductions, and underwriting became more selective. Rate reductions were recorded across all regions except the US, where rates increased by 1%, compared to a 2% decrease in the previous quarter.
* Cyber insurance rates declined by 4% globally - the twelfth consecutive quarter of declines - following a 5% decrease in Q1. The largest decline was in IMEA, at 14%, followed by reductions ranging from 10% in LAC to 2% in the US.
Mr. Donnelly added: "Current market conditions are likely to persist absent a severe northern hemisphere storm season or string of major natural catastrophes. This is likely to create additional opportunities for clients to improve coverage and refine program design, that may better position them for future market changes."
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About Marsh
Marsh (NYSE: MRSH) is a global leader in risk, reinsurance and capital, people and investments, and management consulting, advising clients in 130 countries. With annual revenue of $27 billion and more than 95,000 colleagues, Marsh helps build the confidence to thrive through the power of perspective. For more information, visit corporate.marsh.com, or follow us on LinkedIn and X.
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Original text here: https://www.marsh.com/en/about/media/global-commercial-insurance-falls-6-percent-q2-2026.html
[Category: BizInsurance]
Fisher Phillips Issues Insight: "Surveillance Pricing" Litigation and Legislation Are Here - Why Employers Should Care and 5 Steps to Take Today
ATLANTA, Georgia, July 23 -- Fisher Phillips, a law firm, issued the following insight on July 22, 2026:
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"Surveillance Pricing" Litigation and Legislation Are Here: Why Employers Should Care and 5 Steps to Take Today
When a JetBlue customer complained on social media that his ticket price jumped $230 in a single day while he was booking a flight to a funeral, the airline's response raised alarm bells: the company suggested he try clearing his cookies or booking in an incognito window. Screenshots of that exchange spread online, and JetBlue was quickly hit with two class action lawsuits ... Show Full Article ATLANTA, Georgia, July 23 -- Fisher Phillips, a law firm, issued the following insight on July 22, 2026: * * * "Surveillance Pricing" Litigation and Legislation Are Here: Why Employers Should Care and 5 Steps to Take Today When a JetBlue customer complained on social media that his ticket price jumped $230 in a single day while he was booking a flight to a funeral, the airline's response raised alarm bells: the company suggested he try clearing his cookies or booking in an incognito window. Screenshots of that exchange spread online, and JetBlue was quickly hit with two class action lawsuitsalleging it secretly used customer data to set individualized ticket prices. Weeks later, the Washington Post faced its own class action after subscribers discovered it had been using their reading habits to decide who got a subscription discount and who paid full price. These cases mark the opening round of what regulators, lawmakers, and plaintiffs' lawyers are calling "surveillance pricing" litigation, and the legal theory behind it could impact any employer using data-driven tools to set wages, schedules, or job assignments. What do you need to know about this new trend, and what five steps can you take today to assist your compliance efforts?
What is Surveillance Pricing?
Surveillance pricing (sometimes called algorithmic pricing) is different from the dynamic pricing consumers already expect, like airline tickets costing more as a flight fills up.
Instead, surveillance pricing uses data unique to an individual consumer, such as browsing history, location, device type, or shopping habits, to set a price for that specific person that has nothing to do with supply or demand. Two people buying the identical product at the identical moment can be charged different amounts based solely on what a company's algorithm has inferred about their willingness to pay.
The Lawsuits Are Testing a New (But Familiar) Legal Theory
Notably, the plaintiffs suing JetBlue do not claim that personalized pricing is illegal. Instead, the cases rest on a narrower and more familiar theory: that JetBlue secretly collected personal data through website trackers and cookies without adequate disclosure, then used that data to set prices.
The Washington Post case, filed on June 11, follows the same script: subscribers allege the paper quietly built profiles from their reading activity starting in 2024 but did not disclose the practice until a New York transparency law forced its hand in 2026. And even then the disclosure arrived buried in a renewal email.
This is close to the same fact pattern driving the wave of digital wiretapping and CIPA-style claims that have already flooded courts over the past year. FP is tracking that wave of litigation on the FP Digital Wiretapping Litigation Map and through a series of Insights you can find here.
The Employer Angle: Surveillance-Based Wage Setting
This issue becomes directly relevant to employers when businesses use personal data or surveillance information to decide how workers are paid. In response to this growing trend, lawmakers and regulators across the country are taking steps to address it.
Federal Activity
* Congress is considering the Stop AI Price Gouging and Wage Fixing Act, legislation that would ban the practice of surveillance-based wage setting. It would prevent employers from using any automated system that pulls in personal data about the worker to adjust hourly rates, salaries, bonuses, commissions, scheduling, and task assignments.
* The House Oversight Committee sent information requests to several major consumer platforms earlier this year over AI-driven pricing tools.
* The Federal Trade Commission (FTC) has issued at least one civil investigative demand as well, after releasing a report last year on the practice.
State Action
* Maryland became the first state to ban surveillance pricing outright, though only for certain food retailers and delivery services. The new law is slated to take effect on October 1.
* Connecticut followed suit to become the second state to do so, with layered obligations taking effect in 2026 and 2027.
* New York requires companies using personalized algorithmic pricing to disclose it at the point of sale, but does not (yet) ban the practice. That could soon change. New York lawmakers passed a bill in June to become the third state to ban the practice outright, and the "One Fair Price Act" now awaits the Governor's signature.
* Over 20 other states have introduced bills addressing surveillance pricing, and several of them (unlike existing laws in Maryland, Connecticut, and New York) would create a private right of action with statutory damages and attorneys' fees.
* California's Attorney General opened an investigative sweep into surveillance pricing practices in the retail, grocery, and hotel sectors earlier this year, relying on the CCPA's "purpose limitation" principle.
What Employers Should Do Now
Given the rising prominence of this practice and the scrutiny it is receiving from regulators, lawmakers, and plaintiffs' attorneys alike, you should consider taking these five steps to position your organization for this new threat.
1. Inventory data-driven decision tools. Identify any system, whether used for consumer pricing or internal wage and scheduling decisions, that pulls in personal data to produce an individualized output.
2. Check disclosures against reality. Review privacy policies, terms of use, and any employee-facing policies and review their description of what data is collected, how it is used, and whether it is shared with third parties. If you find gaps between a stated practice and actual practice, consider whether to address them.
3. Get ahead of the wage-setting angle. Even though the federal bill has not passed and only a few states currently address the issue, employers using automated scheduling or pay-setting tools should evaluate now whether those tools rely on personal or behavioral data. State legislatures are likely to follow the same private-right-of-action pattern already emerging for consumer pricing.
4. Review vendor contracts. Any third party providing pricing, scheduling, or wage-setting technology should review contractual guardrails on data use, audit rights, and indemnification, since plaintiffs' counsel are already naming vendors as co-defendants in early cases.
5. Coordinate privacy and HR compliance. This issue involves both consumer privacy and employment law. You can't treat it as solely a marketing or privacy compliance matter, as wage-setting exposure is building on the legislative side. Make sure to involve your HR teams as you develop your position.
Conclusion
Fisher Phillips will continue to track this development. To stay current on CIPA developments and other privacy litigation trends, subscribe to Fisher Phillips' Insights. If you have questions, reach out to your Fisher Phillips attorney, the authors of this Insight, or any member of the firm's Privacy and Cyber Team or our AI, Data, and Analytics Team.
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Related People
Risa B. Boerner, CIPP/US, CIPM
Partner
610.230.2132
rboerner@fisherphillips.com
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Danielle Kays
Partner
312.260.4751
dkays@fisherphillips.com
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Original text here: https://www.fisherphillips.com/en/insights/insights/surveillance-pricing-litigation-and-legislation-are-here
[Category: BizLaw/Legal]
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"Surveillance Pricing" Litigation and Legislation Are Here: Why Employers Should Care and 5 Steps to Take Today
When a JetBlue customer complained on social media that his ticket price jumped $230 in a single day while he was booking a flight to a funeral, the airline's response raised alarm bells: the company suggested he try clearing his cookies or booking in an incognito window. Screenshots of that exchange spread online, and JetBlue was quickly hit with two class action lawsuits ... Show Full Article ATLANTA, Georgia, July 23 -- Fisher Phillips, a law firm, issued the following insight on July 22, 2026: * * * "Surveillance Pricing" Litigation and Legislation Are Here: Why Employers Should Care and 5 Steps to Take Today When a JetBlue customer complained on social media that his ticket price jumped $230 in a single day while he was booking a flight to a funeral, the airline's response raised alarm bells: the company suggested he try clearing his cookies or booking in an incognito window. Screenshots of that exchange spread online, and JetBlue was quickly hit with two class action lawsuitsalleging it secretly used customer data to set individualized ticket prices. Weeks later, the Washington Post faced its own class action after subscribers discovered it had been using their reading habits to decide who got a subscription discount and who paid full price. These cases mark the opening round of what regulators, lawmakers, and plaintiffs' lawyers are calling "surveillance pricing" litigation, and the legal theory behind it could impact any employer using data-driven tools to set wages, schedules, or job assignments. What do you need to know about this new trend, and what five steps can you take today to assist your compliance efforts?
What is Surveillance Pricing?
Surveillance pricing (sometimes called algorithmic pricing) is different from the dynamic pricing consumers already expect, like airline tickets costing more as a flight fills up.
Instead, surveillance pricing uses data unique to an individual consumer, such as browsing history, location, device type, or shopping habits, to set a price for that specific person that has nothing to do with supply or demand. Two people buying the identical product at the identical moment can be charged different amounts based solely on what a company's algorithm has inferred about their willingness to pay.
The Lawsuits Are Testing a New (But Familiar) Legal Theory
Notably, the plaintiffs suing JetBlue do not claim that personalized pricing is illegal. Instead, the cases rest on a narrower and more familiar theory: that JetBlue secretly collected personal data through website trackers and cookies without adequate disclosure, then used that data to set prices.
The Washington Post case, filed on June 11, follows the same script: subscribers allege the paper quietly built profiles from their reading activity starting in 2024 but did not disclose the practice until a New York transparency law forced its hand in 2026. And even then the disclosure arrived buried in a renewal email.
This is close to the same fact pattern driving the wave of digital wiretapping and CIPA-style claims that have already flooded courts over the past year. FP is tracking that wave of litigation on the FP Digital Wiretapping Litigation Map and through a series of Insights you can find here.
The Employer Angle: Surveillance-Based Wage Setting
This issue becomes directly relevant to employers when businesses use personal data or surveillance information to decide how workers are paid. In response to this growing trend, lawmakers and regulators across the country are taking steps to address it.
Federal Activity
* Congress is considering the Stop AI Price Gouging and Wage Fixing Act, legislation that would ban the practice of surveillance-based wage setting. It would prevent employers from using any automated system that pulls in personal data about the worker to adjust hourly rates, salaries, bonuses, commissions, scheduling, and task assignments.
* The House Oversight Committee sent information requests to several major consumer platforms earlier this year over AI-driven pricing tools.
* The Federal Trade Commission (FTC) has issued at least one civil investigative demand as well, after releasing a report last year on the practice.
State Action
* Maryland became the first state to ban surveillance pricing outright, though only for certain food retailers and delivery services. The new law is slated to take effect on October 1.
* Connecticut followed suit to become the second state to do so, with layered obligations taking effect in 2026 and 2027.
* New York requires companies using personalized algorithmic pricing to disclose it at the point of sale, but does not (yet) ban the practice. That could soon change. New York lawmakers passed a bill in June to become the third state to ban the practice outright, and the "One Fair Price Act" now awaits the Governor's signature.
* Over 20 other states have introduced bills addressing surveillance pricing, and several of them (unlike existing laws in Maryland, Connecticut, and New York) would create a private right of action with statutory damages and attorneys' fees.
* California's Attorney General opened an investigative sweep into surveillance pricing practices in the retail, grocery, and hotel sectors earlier this year, relying on the CCPA's "purpose limitation" principle.
What Employers Should Do Now
Given the rising prominence of this practice and the scrutiny it is receiving from regulators, lawmakers, and plaintiffs' attorneys alike, you should consider taking these five steps to position your organization for this new threat.
1. Inventory data-driven decision tools. Identify any system, whether used for consumer pricing or internal wage and scheduling decisions, that pulls in personal data to produce an individualized output.
2. Check disclosures against reality. Review privacy policies, terms of use, and any employee-facing policies and review their description of what data is collected, how it is used, and whether it is shared with third parties. If you find gaps between a stated practice and actual practice, consider whether to address them.
3. Get ahead of the wage-setting angle. Even though the federal bill has not passed and only a few states currently address the issue, employers using automated scheduling or pay-setting tools should evaluate now whether those tools rely on personal or behavioral data. State legislatures are likely to follow the same private-right-of-action pattern already emerging for consumer pricing.
4. Review vendor contracts. Any third party providing pricing, scheduling, or wage-setting technology should review contractual guardrails on data use, audit rights, and indemnification, since plaintiffs' counsel are already naming vendors as co-defendants in early cases.
5. Coordinate privacy and HR compliance. This issue involves both consumer privacy and employment law. You can't treat it as solely a marketing or privacy compliance matter, as wage-setting exposure is building on the legislative side. Make sure to involve your HR teams as you develop your position.
Conclusion
Fisher Phillips will continue to track this development. To stay current on CIPA developments and other privacy litigation trends, subscribe to Fisher Phillips' Insights. If you have questions, reach out to your Fisher Phillips attorney, the authors of this Insight, or any member of the firm's Privacy and Cyber Team or our AI, Data, and Analytics Team.
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Related People
Risa B. Boerner, CIPP/US, CIPM
Partner
610.230.2132
rboerner@fisherphillips.com
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Danielle Kays
Partner
312.260.4751
dkays@fisherphillips.com
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Original text here: https://www.fisherphillips.com/en/insights/insights/surveillance-pricing-litigation-and-legislation-are-here
[Category: BizLaw/Legal]
Dentons Advises Banking Consortium on Euros500 Million Placement of a Benchmark Corporate Bond for SIXT SE
WASHINGTON, July 23 -- Dentons, a law firm, issued the following news:
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Dentons advises banking consortium on Euros500 million placement of a benchmark corporate bond for SIXT SE
Frankfurt--Global law firm Dentons has once again advised the joint lead managers in connection with the successful placement of a benchmark corporate bond issued by SIXT SE with a total volume of Euros500 million.
The bond has a term of 4.5 years and an interest coupon of 3.75%. The issue, which has received a BBB long-term rating from S&P Global Ratings, met with exceptionally high demand from institutional ... Show Full Article WASHINGTON, July 23 -- Dentons, a law firm, issued the following news: * * * Dentons advises banking consortium on Euros500 million placement of a benchmark corporate bond for SIXT SE Frankfurt--Global law firm Dentons has once again advised the joint lead managers in connection with the successful placement of a benchmark corporate bond issued by SIXT SE with a total volume of Euros500 million. The bond has a term of 4.5 years and an interest coupon of 3.75%. The issue, which has received a BBB long-term rating from S&P Global Ratings, met with exceptionally high demand from institutionalinvestors in Germany and abroad and was again oversubscribed several times at its peak with an order book of over Euros1.6 billion. SIXT will use the proceeds to finance further growth, particularly the expansion of its vehicle fleet and the international network of locations, as well as investments in technology.
SIXT SE, based in Pullach near Munich, is one of the leading international providers of high-quality mobility services, including vehicle rental, car sharing, ride hailing and subscription. In 2025, the SIXT Group achieved consolidated pre-tax earnings of Euros400.5 million and consolidated revenues of Euros4.28 billion.
Frankfurt-based partner Oliver Dreher and the Debt Capital Markets team advised the joint lead managers on the deal. The team regularly advises leading placement banks and companies on corporate bonds, both on stand-alone transactions and on the creation and use of issuance programs.
Advisors
Dentons (Frankfurt): Oliver Dreher (Partner, Lead), Sven Henneke (Associate), Luis Michalzik (Project Manager Legal, all Capital Markets/Banking and Finance)
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About Dentons
Redefining possibilities. Together, everywhere. For more information visit dentons.com
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Original text here: https://www.dentons.com/en/about-dentons/news-events-and-awards/news/2026/july/dentons-advises-banking-consortium-on-500-million-placement-of-a-benchmark-corporate-bond
[Category: BizLaw/Legal]
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Dentons advises banking consortium on Euros500 million placement of a benchmark corporate bond for SIXT SE
Frankfurt--Global law firm Dentons has once again advised the joint lead managers in connection with the successful placement of a benchmark corporate bond issued by SIXT SE with a total volume of Euros500 million.
The bond has a term of 4.5 years and an interest coupon of 3.75%. The issue, which has received a BBB long-term rating from S&P Global Ratings, met with exceptionally high demand from institutional ... Show Full Article WASHINGTON, July 23 -- Dentons, a law firm, issued the following news: * * * Dentons advises banking consortium on Euros500 million placement of a benchmark corporate bond for SIXT SE Frankfurt--Global law firm Dentons has once again advised the joint lead managers in connection with the successful placement of a benchmark corporate bond issued by SIXT SE with a total volume of Euros500 million. The bond has a term of 4.5 years and an interest coupon of 3.75%. The issue, which has received a BBB long-term rating from S&P Global Ratings, met with exceptionally high demand from institutionalinvestors in Germany and abroad and was again oversubscribed several times at its peak with an order book of over Euros1.6 billion. SIXT will use the proceeds to finance further growth, particularly the expansion of its vehicle fleet and the international network of locations, as well as investments in technology.
SIXT SE, based in Pullach near Munich, is one of the leading international providers of high-quality mobility services, including vehicle rental, car sharing, ride hailing and subscription. In 2025, the SIXT Group achieved consolidated pre-tax earnings of Euros400.5 million and consolidated revenues of Euros4.28 billion.
Frankfurt-based partner Oliver Dreher and the Debt Capital Markets team advised the joint lead managers on the deal. The team regularly advises leading placement banks and companies on corporate bonds, both on stand-alone transactions and on the creation and use of issuance programs.
Advisors
Dentons (Frankfurt): Oliver Dreher (Partner, Lead), Sven Henneke (Associate), Luis Michalzik (Project Manager Legal, all Capital Markets/Banking and Finance)
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About Dentons
Redefining possibilities. Together, everywhere. For more information visit dentons.com
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Original text here: https://www.dentons.com/en/about-dentons/news-events-and-awards/news/2026/july/dentons-advises-banking-consortium-on-500-million-placement-of-a-benchmark-corporate-bond
[Category: BizLaw/Legal]
Citi Wealth Empowers Palantir Employees With Financial Wellness
NEW YORK, July 23 -- Citi, a banking partner for institutions with cross-border needs and wealth management and a personal bank, issued the following news release on July 22, 2026:
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Citi Wealth Empowers Palantir Employees with Financial Wellness
HIGHLIGHTS
* Citi Wealth partners with Palantir Technologies Inc. to launch Citi Wealth Ascend and deliver customized wealth management solutions to Palantir's employees
* This offering provides access to financial wellness expertise and services to help employees navigate complex compensation structures and achieve their financial goals
* This ... Show Full Article NEW YORK, July 23 -- Citi, a banking partner for institutions with cross-border needs and wealth management and a personal bank, issued the following news release on July 22, 2026: * * * Citi Wealth Empowers Palantir Employees with Financial Wellness HIGHLIGHTS * Citi Wealth partners with Palantir Technologies Inc. to launch Citi Wealth Ascend and deliver customized wealth management solutions to Palantir's employees * This offering provides access to financial wellness expertise and services to help employees navigate complex compensation structures and achieve their financial goals * Thiscollaboration creates a tailored financial ecosystem across banking, lending and investing, marking the first step in a shared journey between the two firms
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Citi Wealth today announced a strategic partnership with Palantir Technologies Inc. (NASDAQ: PLTR), a global leader in artificial intelligence and data platforms, to deliver customized wealth management expertise and workplace financial solutions to eligible Palantir employees.
Through this offering, known as Citi Wealth AscendSM, Citi will provide eligible Palantir employees with access to a dedicated team of wealth advisors, financial education and a suite of wealth management solutions designed to empower Palantir's workforce to navigate complex compensation structures and achieve their wealth ambitions. Citi Wealth Ascend is designed to provide employees with access to several key services, including investing, wealth and financial planning, lending and banking.
"We're proud of the strong relationship we've built with Palantir," said Andy Sieg, Head of Citi Wealth. "As Palantir continues to attract some of the world's most innovative talent, it's our privilege to help these employees confidently navigate the complexities of their financial lives. Citi Wealth Ascend combines personalized guidance, education and wealth management solutions to help Palantir employees make informed financial decisions and make the most of the opportunities they've worked hard to create."
Kris Bitterly, Head of Citi Global Wealth at Work, Citi Wealth added: "We wanted to build something customized and fundamentally different for Palantir - a framework tailored entirely to the unique financial complexities they navigate. By fusing Citi's global scale with a deep understanding of the Palantir experience, we have created an ecosystem across banking, lending, investing and wealth and financial planning built for them based on their direct insights and feedback and partnership with the Palantir management team. We are incredibly proud of what our teams have designed together, and this is just the first step in our shared journey."
Citi Wealth is committed to best-serving clients at all stages of their wealth journeys, and this partnership reflects the firm's continued commitment to deliver that capability in the workplace. By investing in the financial well-being of its workforce, Palantir is reinforcing its commitment to its employees and positioning financial wellness as a key component of the employee experience.
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About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
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Original text here: https://www.citigroup.com/global/news/press-release/2026/citi-wealth-empowers-palantir-employees-with-financial-wellness
[Category: BizFinancial Services]
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Citi Wealth Empowers Palantir Employees with Financial Wellness
HIGHLIGHTS
* Citi Wealth partners with Palantir Technologies Inc. to launch Citi Wealth Ascend and deliver customized wealth management solutions to Palantir's employees
* This offering provides access to financial wellness expertise and services to help employees navigate complex compensation structures and achieve their financial goals
* This ... Show Full Article NEW YORK, July 23 -- Citi, a banking partner for institutions with cross-border needs and wealth management and a personal bank, issued the following news release on July 22, 2026: * * * Citi Wealth Empowers Palantir Employees with Financial Wellness HIGHLIGHTS * Citi Wealth partners with Palantir Technologies Inc. to launch Citi Wealth Ascend and deliver customized wealth management solutions to Palantir's employees * This offering provides access to financial wellness expertise and services to help employees navigate complex compensation structures and achieve their financial goals * Thiscollaboration creates a tailored financial ecosystem across banking, lending and investing, marking the first step in a shared journey between the two firms
-
Citi Wealth today announced a strategic partnership with Palantir Technologies Inc. (NASDAQ: PLTR), a global leader in artificial intelligence and data platforms, to deliver customized wealth management expertise and workplace financial solutions to eligible Palantir employees.
Through this offering, known as Citi Wealth AscendSM, Citi will provide eligible Palantir employees with access to a dedicated team of wealth advisors, financial education and a suite of wealth management solutions designed to empower Palantir's workforce to navigate complex compensation structures and achieve their wealth ambitions. Citi Wealth Ascend is designed to provide employees with access to several key services, including investing, wealth and financial planning, lending and banking.
"We're proud of the strong relationship we've built with Palantir," said Andy Sieg, Head of Citi Wealth. "As Palantir continues to attract some of the world's most innovative talent, it's our privilege to help these employees confidently navigate the complexities of their financial lives. Citi Wealth Ascend combines personalized guidance, education and wealth management solutions to help Palantir employees make informed financial decisions and make the most of the opportunities they've worked hard to create."
Kris Bitterly, Head of Citi Global Wealth at Work, Citi Wealth added: "We wanted to build something customized and fundamentally different for Palantir - a framework tailored entirely to the unique financial complexities they navigate. By fusing Citi's global scale with a deep understanding of the Palantir experience, we have created an ecosystem across banking, lending, investing and wealth and financial planning built for them based on their direct insights and feedback and partnership with the Palantir management team. We are incredibly proud of what our teams have designed together, and this is just the first step in our shared journey."
Citi Wealth is committed to best-serving clients at all stages of their wealth journeys, and this partnership reflects the firm's continued commitment to deliver that capability in the workplace. By investing in the financial well-being of its workforce, Palantir is reinforcing its commitment to its employees and positioning financial wellness as a key component of the employee experience.
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About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 180 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
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Original text here: https://www.citigroup.com/global/news/press-release/2026/citi-wealth-empowers-palantir-employees-with-financial-wellness
[Category: BizFinancial Services]
AT&T Delivers Strong 2nd Quarter Results as Investment-Led Strategy Gains Momentum
DALLAS, Texas, July 23 -- AT&T issued the following news release:
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AT&T Delivers Strong Second-Quarter Results as Investment-Led Strategy Gains Momentum
AT&T adds more than 1 million Advanced Connectivity customers, driven by year-over-year increases in net adds across fiber, fixed wireless, and postpaid phone subscribers
The Company reiterates all consolidated full-year 2026 and multi-year financial guidance and multi-year capital return plans, with accelerated pace of share repurchases in 2026
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AT&T Inc. (NYSE: T) reported strong second-quarter results, driven by consistent execution ... Show Full Article DALLAS, Texas, July 23 -- AT&T issued the following news release: * * * AT&T Delivers Strong Second-Quarter Results as Investment-Led Strategy Gains Momentum AT&T adds more than 1 million Advanced Connectivity customers, driven by year-over-year increases in net adds across fiber, fixed wireless, and postpaid phone subscribers The Company reiterates all consolidated full-year 2026 and multi-year financial guidance and multi-year capital return plans, with accelerated pace of share repurchases in 2026 - AT&T Inc. (NYSE: T) reported strong second-quarter results, driven by consistent executionof the Company's investment-led strategy, demonstrating improved growth in consolidated service revenue and profitability. The Company continues to grow its base of high-value converged customers as it delivered a record quarter for combined fiber and fixed wireless net adds and its strongest consumer postpaid wireless account growth in more than three years.
"The accelerated growth we delivered this quarter shows our structural advantages to lead the next era of connectivity," said John Stankey, AT&T Chairman and CEO. "We are accelerating the pace of our planned share repurchases this year to approximately $10 billion, reflecting our confidence in our market position. With an industry-leading position in fiber - the best connectivity technology available - we believe our network performance and operating scale can't be matched."
Second-Quarter Consolidated Results/1
- Revenues totaled $31.6 billion, up 2.3% from the year-ago quarter
- Diluted EPS from continuing operations was $0.66, versus $0.62 in the year-ago quarter; adjusted EPS/* was $0.65, versus $0.54 in the year-ago quarter
- Operating income was $7.0 billion; adjusted operating income/* was $7.5 billion
- Income from continuing operations was $5.0 billion, up 3.6% year over year; adjusted EBITDA/* was $12.3 billion, up 5.2% year over year
- Cash from operating activities from continuing operations was $10.8 billion, versus $9.8 billion in the year-ago quarter
- Capital expenditures related to continuing operations were $5.7 billion; capital investment/* was $6.1 billion
- Free cash flow/* was $4.7 billion, versus $4.4 billion in the year-ago quarter
Second-Quarter Highlights
- Added over 1 million Advanced Connectivity customers, driven by year-over-year increases in net adds across fiber, fixed wireless, and postpaid phone subscribers
- Advanced Connectivity service revenue of $23.5 billion, up 5.1% year over year
- Advanced Connectivity operating income of $7.3 billion, up 20.3% year over year with EBITDA/* of $12.0 billion, up 8.0%
- 42.5% of households with AT&T's advanced home internet services also chose AT&T wireless/2
- 646,000 total consumer and business Advanced Connectivity internet net adds, including 367,000 fiber and 279,000 fixed wireless
- 432,000 postpaid phone net adds with postpaid phone churn of 0.86%
- Added more than 1 million total consumer and business locations reached with fiber for a total of 38.6 million; the Company remains on track to reach over 40 million total fiber locations by the end of 2026 and more than 60 million by the end of 2030/3
- Returned $4.1 billion to shareholders, including approximately $2.2 billion in common share repurchases under the 2024 authorization
Outlook and Capital Allocation Plan
AT&T maintains its outlook for improved growth in adjusted EBITDA/* and adjusted EPS/* and higher free cash flow/* through 2028, its plans to return $45 billion+ to shareholders during 2026-2028 through dividends and share repurchases, and an expectation that its net debt-to-adjusted EBITDA ratio/* will return to a level consistent with its target in the 2.5x range within approximately three years following the closing of its transaction with EchoStar.
The Company's long-term outlook for 2026-2028 includes/4:
- Service revenue growth in the low-single-digit range annually
= Advanced Connectivity service revenue growth in the mid-single-digit range annually, including expected growth of 5%+ in 2026
= Legacy service revenue decline of 20%+ in 2026 and be immaterial by the end of 2029
- Adjusted EBITDA/* growth in the 3% to 4% range in 2026, improving to 5% or better in 2028
= Advanced Connectivity EBITDA/* growth in the mid-to-high-single-digit range annually, including expected growth of 6%+ in 2026
= Legacy EBITDA/* expected to turn negative after 2027, until AT&T has substantially eliminated direct costs associated with operating its copper-based network/5
- Adjusted EPS/* of $2.25 to $2.35 in 2026 with a double-digit 3-year CAGR through 2028
- Capital investment/* in the $23 billion to $24 billion range annually during 2026-2028
- Free cash flow/* of $18 billion+ in 2026, $19 billion+ in 2027, and $21 billion+ in 2028
- Strong capital returns, including plans to maintain its current annualized common stock dividend of $1.11 per share and approximately $24 billion of share repurchases, including approximately $10 billion during 2026
Note: AT&T's second-quarter 2026 earnings conference call will be webcast at 8:30 a.m. ET on Wednesday, July 22, 2026. The webcast and related materials, including financial highlights, will be available at investors.att.com.
Consolidated Financial Results
- Revenues for the second quarter totaled $31.6 billion, versus $30.8 billion in the year-ago quarter, up 2.3%. This was largely due to growth in Advanced Connectivity fiber and wireless revenues, with fiber revenues including the impact of our first-quarter acquisition of Lumen's mass markets fiber business. Revenues in Mexico were also higher due to favorable foreign exchange impacts. Offsetting these increases were lower Legacy revenues from lower demand for services as the Company continues to decommission its copper-based network.
- Operating expenses were $24.5 billion, versus $24.3 billion in the year-ago quarter. Operating expenses increased due to an asset abandonment charge associated with the reprioritization of the Company's spectrum strategy, higher advertising expense, incremental customer costs related to the acquired mass markets fiber business, and higher bad debt expenses driven by subscriber growth. These increases were largely offset by lower depreciation expense from fully depreciated legacy assets, partially offset by ongoing capital spending for strategic initiatives. Also offsetting the increase were cost reductions from transformation initiatives, lower content licensing fees, and gains on tower transactions.
- Operating income was $7.0 billion, versus $6.5 billion in the year-ago quarter. When adjusting for certain items, adjusted operating income/* was $7.5 billion, versus $6.5 billion in the year-ago quarter.
- Income from continuing operations was $5.0 billion, versus $4.9 billion in the year-ago quarter, which included equity in net income of DIRECTV.
- Income from continuing operations attributable to common stock was $4.6 billion, versus $4.5 billion in the year-ago quarter. Earnings per diluted common share from continuing operations was $0.66, versus $0.62 in the year-ago quarter. Adjusting for $(0.01), which includes a benefit from tax items that were primarily offset by an asset abandonment charge, and transaction, legal, and other items, adjusted earnings per diluted common share/* was $0.65, versus $0.54 in the year-ago quarter.
- Adjusted EBITDA/* was $12.3 billion, versus $11.7 billion in the year-ago quarter.
- Cash from operating activities from continuing operations was $10.8 billion versus $9.8 billion in the year-ago quarter, which benefitted from $0.3 billion of cash received from DIRECTV, net of related tax payments. The increase reflects lower cash tax payments and timing of working capital payments, which were partially offset by a voluntary pension plan contribution of $100 million.
- Capital expenditures related to continuing operations were $5.7 billion, compared to $4.9 billion in the year-ago quarter. Capital investment/* totaled $6.1 billion, versus $5.1 billion in the year-ago quarter. Cash payments for vendor financing totaled $0.4 billion, versus $0.2 billion in the year-ago quarter.
- Free cash flow/* was $4.7 billion, versus $4.4 billion in the year-ago quarter.
- Total debt was $144.0 billion at the end of the second quarter, and net debt/* was $126.4 billion.
Segment Results/6
Advanced Connectivity service revenues grew 5.1% year over year, driving growth in operating income of 20.3% and EBITDA/* of 8.0%. Internet net adds were 646,000 -- comprised of 367,000 fiber and 279,000 fixed wireless -- and postpaid phone net adds were 432,000.
Advanced Connectivity segment revenues grew 4.1% year over year, driven by service revenue growth of 5.1%. Wireless service revenue increased due to growth in retail wireless subscribers in underpenetrated categories and converged accounts, and pricing actions that were partially offset by promotional discounts on wireless subscriber additions. Advanced home internet revenue growth, which included an impact from the acquired mass markets fiber business that closed in the first quarter, reflects increases in fiber and AT&T Internet Air revenues. Business fiber and advanced connectivity revenues increased largely due to higher fiber and fixed wireless revenues. Business transitional and other revenues decreased partly due to lower demand for virtual private network and wholesale services.
Operating expenses were down 0.6% year over year, due to lower depreciation expense from fully depreciated legacy assets, partially offset by ongoing capital spending for strategic initiatives. Also contributing to the decline were cost reductions from transformation initiatives, lower content licensing fees, and tower transaction gains. These decreases were partially offset by higher advertising expense, incremental customer costs related to the acquired mass markets fiber business, and higher bad debt expenses driven by subscriber growth.
Operating income was $7.3 billion, up 20.3% year over year. EBITDA/* was $12.0 billion, up $891 million year over year.
Legacy revenues continued to decline year over year in line with AT&T's goal to power down and stop providing service over the large majority of its domestic copper-based network by the end of 2029.
Legacy segment revenues were down 25.9% year over year, primarily due to lower demand for services as the Company continues to decommission its copper-based network. Operating expenses, which represent direct operating costs, were $1.1 billion, down 10.8% year over year. Expense declines were primarily driven by lower personnel and other costs resulting from the decommissioning of the copper-based network, and lower fulfillment cost amortization, partially offset by vendor settlements. Operating income and EBITDA/* were $523 million, down $436 million year over year.
Latin America segment revenues were up 16.1% year over year, primarily driven by favorable foreign exchange rates and postpaid wireless subscriber growth. Operating expenses were up 17.7% year over year due to unfavorable foreign exchange rates, higher bad debt expense, and higher depreciation expense. Operating income was $38 million, down $8 million year over year. EBITDA/* was $227 million, up $26 million year over year.
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* Further clarification and explanation of non-GAAP measures and reconciliations to the most comparable GAAP measures can be found in the "Non-GAAP Measures and Reconciliations to GAAP Measures" section of the release and at investors.att.com.
1 With the closing of the acquisition of substantially all of Lumen's Mass Markets fiber business on February 2, 2026, the fiber customer relationships were retained by AT&T and are included in the Company's year-to-date results, unless otherwise indicated. The recently acquired fiber network assets, including certain fiber network build capabilities, were placed in a wholly owned subsidiary, of which AT&T plans to sell a controlling interest to an equity partner that will co-invest in the ongoing business. As such, the subsidiary is classified as held-for-sale and reflected as discontinued operations.
2 Advanced home internet connections with AT&T wireless is defined as AT&T Fiber and AT&T Internet Air connections that are also primary wireless account holders that subscribe to consumer postpaid phone service. AT&T refers to these customers as converged customers. Convergence rate represents the ratio of converged customers to advanced home internet connections. This 2Q26 convergence metric is presented based on available information and is subject to revision.
3 Total consumer and business locations reached with fiber represents the sum of: (1) AT&T Owned and Operated locations, which reflect its customer locations passed by AT&T's fiber network and (2) AT&T Fiber Ventures locations, which represent locations served from the recently acquired mass markets fiber business, Gigapower, and other commercial open access providers.
4 The Company's long-term outlook for 2026-2028 is presented on a continuing operations basis and excludes discontinued operations.
5 The strategy to remove legacy fixed costs across a geography is tied to the decommissioning of infrastructure after all customers have been upgraded to newer services. Gaining approvals could delay this decommissioning beyond 2029.
6 Effective with the Company's first-quarter 2026 reporting, AT&T revised its operating segments to reflect the evolution of its business model to focus on delivering converged advanced connectivity services.
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About AT&T
We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 150 years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at about.att.com. Investors can learn more at investors.att.com.
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Cautionary Language Concerning Forward-Looking Statements
Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.
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Non-GAAP Measures and Reconciliations to GAAP Measures
Schedules and reconciliations of non-GAAP financial measures cited in this document to the most comparable financial measures under generally accepted accounting principles (GAAP) can be found at investors.att.com and in our Form 8-K dated July 22, 2026. Adjusted diluted EPS, adjusted operating income, EBITDA, EBITDA margin, adjusted EBITDA, free cash flow, and net debt are non-GAAP financial measures frequently used by investors and credit rating agencies. The information below refers only to AT&T's continuing operations and does not include discussion of balances or activity related to discontinued operations.
Adjusted EPS is calculated by excluding from operating revenues, operating expenses, other income (expenses) and income tax expense, certain significant items that are non-operational or non-recurring in nature, including dispositions and merger integration and transaction costs, actuarial gains and losses, significant abandonments and impairments, benefit-related gains and losses, employee separation and other material gains and losses. Non-operational items arising from asset acquisitions and dispositions include the amortization of intangible assets. While the expense associated with the amortization of certain wireless licenses and customer lists is excluded, the revenue of the acquired companies is reflected in the measure and those assets contribute to revenue generation. We also adjust for net actuarial gains or losses associated with our pension and postemployment benefit plans due to the often-significant impact on our results (we immediately recognize this gain or loss in the income statement, pursuant to our accounting policy for the recognition of actuarial gains and losses). Consequently, our adjusted results reflect an expected return on plan assets rather than the actual return on plan assets, as included in the GAAP measure of income. The tax impact of adjusting items is calculated using the adjusted effective tax rate during the quarter except for adjustments that, given their magnitude, can drive a change in the effective tax rate; in these cases, we use the actual tax expense or combined marginal rate of approximately 25%.
For 2Q26, adjusted EPS of $0.65 is diluted EPS from continuing operations of $0.66 adjusted to remove $0.05 benefit from tax items and adjusted for a $0.03 asset abandonment charge, and $0.01 for benefit-related, transaction, legal and other items. For 2Q25, adjusted EPS of $0.54 is diluted EPS of $0.62 minus $0.05 equity in net income of DIRECTV and minus $0.03 benefit-related, transaction, legal and other items. Transaction, legal and other costs include certain legal reserves and settlements that cover extended historical periods, novel theories of liability, and/or are unpredictable in both magnitude and timing, and therefore are distinct and separate from normal, recurring legal matters. Such costs are presented net of expected insurance recoveries.
The Company expects adjustments to 2026 reported diluted EPS from continuing operations to include acquisition-related amortization of approximately $0.3 billion (based on preliminary information), a non-cash mark-to-market benefit plan gain/loss and other items. The Company expects the mark-to-market adjustment, which is driven by interest rates and investment returns that are not reasonably estimable at this time, to be a significant item. AT&T's projected adjusted EPS depends on future levels of revenues and expenses, most of which are not reasonably estimable at this time. Accordingly, the Company cannot provide a reconciliation between this projected non-GAAP metric and the most comparable GAAP metric without unreasonable effort.
Adjusted operating income is operating income adjusted for revenues and costs the Company considers non-operational in nature, including items arising from asset acquisitions or dispositions. For 2Q26, adjusted operating income of $7.5 billion is calculated as operating income of $7.0 billion, plus adjustments of $418 million. For 2Q25, adjusted operating income of $6.5 billion is calculated as operating income of $6.5 billion minus adjustments of $12 million. Adjustments for all periods are detailed in the Discussion and Reconciliation of Non-GAAP Measures included in our Form 8-K dated July 22, 2026, and include transaction, legal, and other costs as discussed above.
EBITDA is income from continuing operations plus income tax, interest, and depreciation and amortization expenses minus equity in net income (loss) of affiliates and other income (expense) - net. Adjusted EBITDA is calculated by excluding from EBITDA certain significant items that are non-operational or non-recurring in nature, including dispositions and merger integration and transaction costs, significant abandonments and impairments, benefit-related gains and losses, employee separation, and other material gains and losses. Adjustments include transaction, legal, and other costs as discussed above.
For 2Q26, adjusted EBITDA of $12.3 billion is calculated as income from continuing operations of $5.0 billion, plus income tax expense of $0.8 billion, plus interest expense of $1.9 billion, plus equity in net income (loss) of affiliates of $(29) million, minus other income (expense) - net of $0.7 billion, plus depreciation and amortization of $5.0 billion, plus adjustments of $334 million. For 2Q25, adjusted EBITDA of $11.7 billion is calculated as income from continuing operations of $4.9 billion, plus income tax expense of $1.2 billion, plus interest expense of $1.7 billion, minus equity in net income of affiliates of $0.5 billion, minus other income (expense) - net of $0.8 billion, plus depreciation and amortization of $5.3 billion, minus adjustments of $21 million. Adjustments for all periods are detailed in the Discussion and Reconciliation of Non-GAAP Measures included in our Form 8-K dated July 22, 2026.
At the segment level, EBITDA is operating income before depreciation and amortization. EBITDA margin is EBITDA divided by total revenues. For 2Q26, Advanced Connectivity EBITDA of $12.0 billion is operating income of $7.3 billion plus depreciation and amortization of $4.7 billion. For 2Q25, Advanced Connectivity EBITDA of $11.1 billion is operating income of $6.1 billion plus depreciation and amortization of $5.0 billion.
Adjusted EBITDA, Advanced Connectivity EBITDA, and Legacy EBITDA estimates depend on future levels of revenues and expenses which are not reasonably estimable at this time. Accordingly, we cannot provide reconciliations between these projected non-GAAP metrics and the most comparable GAAP metrics without unreasonable effort.
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Free cash flow for 2Q26 of $4.7 billion is cash from operating activities from continuing operations of $10.8 billion, minus capital expenditures of $5.7 billion and cash paid for vendor financing of $0.4 billion. For 2Q25, free cash flow of $4.4 billion is cash from operating activities of $9.8 billion, less cash distributions from DIRECTV classified as operating activities of $0.5 billion, less cash taxes paid on DIRECTV of $0.3 billion, minus capital expenditures of $4.9 billion and cash paid for vendor financing of $0.2 billion. Due to high variability and difficulty in predicting items that impact cash from operating activities, capital expenditures and vendor financing payments, the Company is not able to provide a reconciliation between projected free cash flow and the most comparable GAAP metric without unreasonable effort.
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Capital investment provides a comprehensive view of cash used to invest in our networks, product developments, and support systems. In connection with capital improvements, we have favorable payment terms of 120 days or more with certain vendors, referred to as vendor financing, which are excluded from capital expenditures and reported as financing activities. Capital investment includes capital expenditures and cash paid for vendor financing ($0.4 billion in 2Q26, $0.2 billion in 2Q25). Due to high variability and difficulty in predicting items that impact capital expenditures and vendor financing payments, the Company is not able to provide a reconciliation between projected capital investment and the most comparable GAAP metric without unreasonable effort.
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Net debt of $126.4 billion at June 30, 2026, is calculated as total debt of $144.0 billion less cash and cash equivalents of $17.6 billion and time deposits (i.e., deposits at financial institutions that are greater than 90 days) of $0. Net debt-to-adjusted EBITDA is calculated by dividing net debt by the sum of the most recent four quarters of adjusted EBITDA. Net debt and adjusted EBITDA estimates depend on future levels of revenues, expenses and other metrics which are not reasonably estimable at this time. Accordingly, we cannot provide a reconciliation between projected net debt-to-adjusted EBITDA and the most comparable GAAP metrics and related ratios without unreasonable effort.
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Original text here: https://about.att.com/story/2026/2q-earnings.html
[Category: BizTelecommunications]
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AT&T Delivers Strong Second-Quarter Results as Investment-Led Strategy Gains Momentum
AT&T adds more than 1 million Advanced Connectivity customers, driven by year-over-year increases in net adds across fiber, fixed wireless, and postpaid phone subscribers
The Company reiterates all consolidated full-year 2026 and multi-year financial guidance and multi-year capital return plans, with accelerated pace of share repurchases in 2026
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AT&T Inc. (NYSE: T) reported strong second-quarter results, driven by consistent execution ... Show Full Article DALLAS, Texas, July 23 -- AT&T issued the following news release: * * * AT&T Delivers Strong Second-Quarter Results as Investment-Led Strategy Gains Momentum AT&T adds more than 1 million Advanced Connectivity customers, driven by year-over-year increases in net adds across fiber, fixed wireless, and postpaid phone subscribers The Company reiterates all consolidated full-year 2026 and multi-year financial guidance and multi-year capital return plans, with accelerated pace of share repurchases in 2026 - AT&T Inc. (NYSE: T) reported strong second-quarter results, driven by consistent executionof the Company's investment-led strategy, demonstrating improved growth in consolidated service revenue and profitability. The Company continues to grow its base of high-value converged customers as it delivered a record quarter for combined fiber and fixed wireless net adds and its strongest consumer postpaid wireless account growth in more than three years.
"The accelerated growth we delivered this quarter shows our structural advantages to lead the next era of connectivity," said John Stankey, AT&T Chairman and CEO. "We are accelerating the pace of our planned share repurchases this year to approximately $10 billion, reflecting our confidence in our market position. With an industry-leading position in fiber - the best connectivity technology available - we believe our network performance and operating scale can't be matched."
Second-Quarter Consolidated Results/1
- Revenues totaled $31.6 billion, up 2.3% from the year-ago quarter
- Diluted EPS from continuing operations was $0.66, versus $0.62 in the year-ago quarter; adjusted EPS/* was $0.65, versus $0.54 in the year-ago quarter
- Operating income was $7.0 billion; adjusted operating income/* was $7.5 billion
- Income from continuing operations was $5.0 billion, up 3.6% year over year; adjusted EBITDA/* was $12.3 billion, up 5.2% year over year
- Cash from operating activities from continuing operations was $10.8 billion, versus $9.8 billion in the year-ago quarter
- Capital expenditures related to continuing operations were $5.7 billion; capital investment/* was $6.1 billion
- Free cash flow/* was $4.7 billion, versus $4.4 billion in the year-ago quarter
Second-Quarter Highlights
- Added over 1 million Advanced Connectivity customers, driven by year-over-year increases in net adds across fiber, fixed wireless, and postpaid phone subscribers
- Advanced Connectivity service revenue of $23.5 billion, up 5.1% year over year
- Advanced Connectivity operating income of $7.3 billion, up 20.3% year over year with EBITDA/* of $12.0 billion, up 8.0%
- 42.5% of households with AT&T's advanced home internet services also chose AT&T wireless/2
- 646,000 total consumer and business Advanced Connectivity internet net adds, including 367,000 fiber and 279,000 fixed wireless
- 432,000 postpaid phone net adds with postpaid phone churn of 0.86%
- Added more than 1 million total consumer and business locations reached with fiber for a total of 38.6 million; the Company remains on track to reach over 40 million total fiber locations by the end of 2026 and more than 60 million by the end of 2030/3
- Returned $4.1 billion to shareholders, including approximately $2.2 billion in common share repurchases under the 2024 authorization
Outlook and Capital Allocation Plan
AT&T maintains its outlook for improved growth in adjusted EBITDA/* and adjusted EPS/* and higher free cash flow/* through 2028, its plans to return $45 billion+ to shareholders during 2026-2028 through dividends and share repurchases, and an expectation that its net debt-to-adjusted EBITDA ratio/* will return to a level consistent with its target in the 2.5x range within approximately three years following the closing of its transaction with EchoStar.
The Company's long-term outlook for 2026-2028 includes/4:
- Service revenue growth in the low-single-digit range annually
= Advanced Connectivity service revenue growth in the mid-single-digit range annually, including expected growth of 5%+ in 2026
= Legacy service revenue decline of 20%+ in 2026 and be immaterial by the end of 2029
- Adjusted EBITDA/* growth in the 3% to 4% range in 2026, improving to 5% or better in 2028
= Advanced Connectivity EBITDA/* growth in the mid-to-high-single-digit range annually, including expected growth of 6%+ in 2026
= Legacy EBITDA/* expected to turn negative after 2027, until AT&T has substantially eliminated direct costs associated with operating its copper-based network/5
- Adjusted EPS/* of $2.25 to $2.35 in 2026 with a double-digit 3-year CAGR through 2028
- Capital investment/* in the $23 billion to $24 billion range annually during 2026-2028
- Free cash flow/* of $18 billion+ in 2026, $19 billion+ in 2027, and $21 billion+ in 2028
- Strong capital returns, including plans to maintain its current annualized common stock dividend of $1.11 per share and approximately $24 billion of share repurchases, including approximately $10 billion during 2026
Note: AT&T's second-quarter 2026 earnings conference call will be webcast at 8:30 a.m. ET on Wednesday, July 22, 2026. The webcast and related materials, including financial highlights, will be available at investors.att.com.
Consolidated Financial Results
- Revenues for the second quarter totaled $31.6 billion, versus $30.8 billion in the year-ago quarter, up 2.3%. This was largely due to growth in Advanced Connectivity fiber and wireless revenues, with fiber revenues including the impact of our first-quarter acquisition of Lumen's mass markets fiber business. Revenues in Mexico were also higher due to favorable foreign exchange impacts. Offsetting these increases were lower Legacy revenues from lower demand for services as the Company continues to decommission its copper-based network.
- Operating expenses were $24.5 billion, versus $24.3 billion in the year-ago quarter. Operating expenses increased due to an asset abandonment charge associated with the reprioritization of the Company's spectrum strategy, higher advertising expense, incremental customer costs related to the acquired mass markets fiber business, and higher bad debt expenses driven by subscriber growth. These increases were largely offset by lower depreciation expense from fully depreciated legacy assets, partially offset by ongoing capital spending for strategic initiatives. Also offsetting the increase were cost reductions from transformation initiatives, lower content licensing fees, and gains on tower transactions.
- Operating income was $7.0 billion, versus $6.5 billion in the year-ago quarter. When adjusting for certain items, adjusted operating income/* was $7.5 billion, versus $6.5 billion in the year-ago quarter.
- Income from continuing operations was $5.0 billion, versus $4.9 billion in the year-ago quarter, which included equity in net income of DIRECTV.
- Income from continuing operations attributable to common stock was $4.6 billion, versus $4.5 billion in the year-ago quarter. Earnings per diluted common share from continuing operations was $0.66, versus $0.62 in the year-ago quarter. Adjusting for $(0.01), which includes a benefit from tax items that were primarily offset by an asset abandonment charge, and transaction, legal, and other items, adjusted earnings per diluted common share/* was $0.65, versus $0.54 in the year-ago quarter.
- Adjusted EBITDA/* was $12.3 billion, versus $11.7 billion in the year-ago quarter.
- Cash from operating activities from continuing operations was $10.8 billion versus $9.8 billion in the year-ago quarter, which benefitted from $0.3 billion of cash received from DIRECTV, net of related tax payments. The increase reflects lower cash tax payments and timing of working capital payments, which were partially offset by a voluntary pension plan contribution of $100 million.
- Capital expenditures related to continuing operations were $5.7 billion, compared to $4.9 billion in the year-ago quarter. Capital investment/* totaled $6.1 billion, versus $5.1 billion in the year-ago quarter. Cash payments for vendor financing totaled $0.4 billion, versus $0.2 billion in the year-ago quarter.
- Free cash flow/* was $4.7 billion, versus $4.4 billion in the year-ago quarter.
- Total debt was $144.0 billion at the end of the second quarter, and net debt/* was $126.4 billion.
Segment Results/6
Advanced Connectivity service revenues grew 5.1% year over year, driving growth in operating income of 20.3% and EBITDA/* of 8.0%. Internet net adds were 646,000 -- comprised of 367,000 fiber and 279,000 fixed wireless -- and postpaid phone net adds were 432,000.
Advanced Connectivity segment revenues grew 4.1% year over year, driven by service revenue growth of 5.1%. Wireless service revenue increased due to growth in retail wireless subscribers in underpenetrated categories and converged accounts, and pricing actions that were partially offset by promotional discounts on wireless subscriber additions. Advanced home internet revenue growth, which included an impact from the acquired mass markets fiber business that closed in the first quarter, reflects increases in fiber and AT&T Internet Air revenues. Business fiber and advanced connectivity revenues increased largely due to higher fiber and fixed wireless revenues. Business transitional and other revenues decreased partly due to lower demand for virtual private network and wholesale services.
Operating expenses were down 0.6% year over year, due to lower depreciation expense from fully depreciated legacy assets, partially offset by ongoing capital spending for strategic initiatives. Also contributing to the decline were cost reductions from transformation initiatives, lower content licensing fees, and tower transaction gains. These decreases were partially offset by higher advertising expense, incremental customer costs related to the acquired mass markets fiber business, and higher bad debt expenses driven by subscriber growth.
Operating income was $7.3 billion, up 20.3% year over year. EBITDA/* was $12.0 billion, up $891 million year over year.
Legacy revenues continued to decline year over year in line with AT&T's goal to power down and stop providing service over the large majority of its domestic copper-based network by the end of 2029.
Legacy segment revenues were down 25.9% year over year, primarily due to lower demand for services as the Company continues to decommission its copper-based network. Operating expenses, which represent direct operating costs, were $1.1 billion, down 10.8% year over year. Expense declines were primarily driven by lower personnel and other costs resulting from the decommissioning of the copper-based network, and lower fulfillment cost amortization, partially offset by vendor settlements. Operating income and EBITDA/* were $523 million, down $436 million year over year.
Latin America segment revenues were up 16.1% year over year, primarily driven by favorable foreign exchange rates and postpaid wireless subscriber growth. Operating expenses were up 17.7% year over year due to unfavorable foreign exchange rates, higher bad debt expense, and higher depreciation expense. Operating income was $38 million, down $8 million year over year. EBITDA/* was $227 million, up $26 million year over year.
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* Further clarification and explanation of non-GAAP measures and reconciliations to the most comparable GAAP measures can be found in the "Non-GAAP Measures and Reconciliations to GAAP Measures" section of the release and at investors.att.com.
1 With the closing of the acquisition of substantially all of Lumen's Mass Markets fiber business on February 2, 2026, the fiber customer relationships were retained by AT&T and are included in the Company's year-to-date results, unless otherwise indicated. The recently acquired fiber network assets, including certain fiber network build capabilities, were placed in a wholly owned subsidiary, of which AT&T plans to sell a controlling interest to an equity partner that will co-invest in the ongoing business. As such, the subsidiary is classified as held-for-sale and reflected as discontinued operations.
2 Advanced home internet connections with AT&T wireless is defined as AT&T Fiber and AT&T Internet Air connections that are also primary wireless account holders that subscribe to consumer postpaid phone service. AT&T refers to these customers as converged customers. Convergence rate represents the ratio of converged customers to advanced home internet connections. This 2Q26 convergence metric is presented based on available information and is subject to revision.
3 Total consumer and business locations reached with fiber represents the sum of: (1) AT&T Owned and Operated locations, which reflect its customer locations passed by AT&T's fiber network and (2) AT&T Fiber Ventures locations, which represent locations served from the recently acquired mass markets fiber business, Gigapower, and other commercial open access providers.
4 The Company's long-term outlook for 2026-2028 is presented on a continuing operations basis and excludes discontinued operations.
5 The strategy to remove legacy fixed costs across a geography is tied to the decommissioning of infrastructure after all customers have been upgraded to newer services. Gaining approvals could delay this decommissioning beyond 2029.
6 Effective with the Company's first-quarter 2026 reporting, AT&T revised its operating segments to reflect the evolution of its business model to focus on delivering converged advanced connectivity services.
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About AT&T
We help more than 100 million U.S. families, friends and neighbors, plus nearly 2.5 million businesses, connect to greater possibility. From the first phone call 150 years ago to our 5G wireless and multi-gig internet offerings today, we @ATT innovate to improve lives. For more information about AT&T Inc. (NYSE:T), please visit us at about.att.com. Investors can learn more at investors.att.com.
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Cautionary Language Concerning Forward-Looking Statements
Information set forth in this news release contains financial estimates and other forward-looking statements that are subject to risks and uncertainties, and actual results might differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission. AT&T disclaims any obligation to update and revise statements contained in this news release based on new information or otherwise.
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Non-GAAP Measures and Reconciliations to GAAP Measures
Schedules and reconciliations of non-GAAP financial measures cited in this document to the most comparable financial measures under generally accepted accounting principles (GAAP) can be found at investors.att.com and in our Form 8-K dated July 22, 2026. Adjusted diluted EPS, adjusted operating income, EBITDA, EBITDA margin, adjusted EBITDA, free cash flow, and net debt are non-GAAP financial measures frequently used by investors and credit rating agencies. The information below refers only to AT&T's continuing operations and does not include discussion of balances or activity related to discontinued operations.
Adjusted EPS is calculated by excluding from operating revenues, operating expenses, other income (expenses) and income tax expense, certain significant items that are non-operational or non-recurring in nature, including dispositions and merger integration and transaction costs, actuarial gains and losses, significant abandonments and impairments, benefit-related gains and losses, employee separation and other material gains and losses. Non-operational items arising from asset acquisitions and dispositions include the amortization of intangible assets. While the expense associated with the amortization of certain wireless licenses and customer lists is excluded, the revenue of the acquired companies is reflected in the measure and those assets contribute to revenue generation. We also adjust for net actuarial gains or losses associated with our pension and postemployment benefit plans due to the often-significant impact on our results (we immediately recognize this gain or loss in the income statement, pursuant to our accounting policy for the recognition of actuarial gains and losses). Consequently, our adjusted results reflect an expected return on plan assets rather than the actual return on plan assets, as included in the GAAP measure of income. The tax impact of adjusting items is calculated using the adjusted effective tax rate during the quarter except for adjustments that, given their magnitude, can drive a change in the effective tax rate; in these cases, we use the actual tax expense or combined marginal rate of approximately 25%.
For 2Q26, adjusted EPS of $0.65 is diluted EPS from continuing operations of $0.66 adjusted to remove $0.05 benefit from tax items and adjusted for a $0.03 asset abandonment charge, and $0.01 for benefit-related, transaction, legal and other items. For 2Q25, adjusted EPS of $0.54 is diluted EPS of $0.62 minus $0.05 equity in net income of DIRECTV and minus $0.03 benefit-related, transaction, legal and other items. Transaction, legal and other costs include certain legal reserves and settlements that cover extended historical periods, novel theories of liability, and/or are unpredictable in both magnitude and timing, and therefore are distinct and separate from normal, recurring legal matters. Such costs are presented net of expected insurance recoveries.
The Company expects adjustments to 2026 reported diluted EPS from continuing operations to include acquisition-related amortization of approximately $0.3 billion (based on preliminary information), a non-cash mark-to-market benefit plan gain/loss and other items. The Company expects the mark-to-market adjustment, which is driven by interest rates and investment returns that are not reasonably estimable at this time, to be a significant item. AT&T's projected adjusted EPS depends on future levels of revenues and expenses, most of which are not reasonably estimable at this time. Accordingly, the Company cannot provide a reconciliation between this projected non-GAAP metric and the most comparable GAAP metric without unreasonable effort.
Adjusted operating income is operating income adjusted for revenues and costs the Company considers non-operational in nature, including items arising from asset acquisitions or dispositions. For 2Q26, adjusted operating income of $7.5 billion is calculated as operating income of $7.0 billion, plus adjustments of $418 million. For 2Q25, adjusted operating income of $6.5 billion is calculated as operating income of $6.5 billion minus adjustments of $12 million. Adjustments for all periods are detailed in the Discussion and Reconciliation of Non-GAAP Measures included in our Form 8-K dated July 22, 2026, and include transaction, legal, and other costs as discussed above.
EBITDA is income from continuing operations plus income tax, interest, and depreciation and amortization expenses minus equity in net income (loss) of affiliates and other income (expense) - net. Adjusted EBITDA is calculated by excluding from EBITDA certain significant items that are non-operational or non-recurring in nature, including dispositions and merger integration and transaction costs, significant abandonments and impairments, benefit-related gains and losses, employee separation, and other material gains and losses. Adjustments include transaction, legal, and other costs as discussed above.
For 2Q26, adjusted EBITDA of $12.3 billion is calculated as income from continuing operations of $5.0 billion, plus income tax expense of $0.8 billion, plus interest expense of $1.9 billion, plus equity in net income (loss) of affiliates of $(29) million, minus other income (expense) - net of $0.7 billion, plus depreciation and amortization of $5.0 billion, plus adjustments of $334 million. For 2Q25, adjusted EBITDA of $11.7 billion is calculated as income from continuing operations of $4.9 billion, plus income tax expense of $1.2 billion, plus interest expense of $1.7 billion, minus equity in net income of affiliates of $0.5 billion, minus other income (expense) - net of $0.8 billion, plus depreciation and amortization of $5.3 billion, minus adjustments of $21 million. Adjustments for all periods are detailed in the Discussion and Reconciliation of Non-GAAP Measures included in our Form 8-K dated July 22, 2026.
At the segment level, EBITDA is operating income before depreciation and amortization. EBITDA margin is EBITDA divided by total revenues. For 2Q26, Advanced Connectivity EBITDA of $12.0 billion is operating income of $7.3 billion plus depreciation and amortization of $4.7 billion. For 2Q25, Advanced Connectivity EBITDA of $11.1 billion is operating income of $6.1 billion plus depreciation and amortization of $5.0 billion.
Adjusted EBITDA, Advanced Connectivity EBITDA, and Legacy EBITDA estimates depend on future levels of revenues and expenses which are not reasonably estimable at this time. Accordingly, we cannot provide reconciliations between these projected non-GAAP metrics and the most comparable GAAP metrics without unreasonable effort.
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Free cash flow for 2Q26 of $4.7 billion is cash from operating activities from continuing operations of $10.8 billion, minus capital expenditures of $5.7 billion and cash paid for vendor financing of $0.4 billion. For 2Q25, free cash flow of $4.4 billion is cash from operating activities of $9.8 billion, less cash distributions from DIRECTV classified as operating activities of $0.5 billion, less cash taxes paid on DIRECTV of $0.3 billion, minus capital expenditures of $4.9 billion and cash paid for vendor financing of $0.2 billion. Due to high variability and difficulty in predicting items that impact cash from operating activities, capital expenditures and vendor financing payments, the Company is not able to provide a reconciliation between projected free cash flow and the most comparable GAAP metric without unreasonable effort.
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Capital investment provides a comprehensive view of cash used to invest in our networks, product developments, and support systems. In connection with capital improvements, we have favorable payment terms of 120 days or more with certain vendors, referred to as vendor financing, which are excluded from capital expenditures and reported as financing activities. Capital investment includes capital expenditures and cash paid for vendor financing ($0.4 billion in 2Q26, $0.2 billion in 2Q25). Due to high variability and difficulty in predicting items that impact capital expenditures and vendor financing payments, the Company is not able to provide a reconciliation between projected capital investment and the most comparable GAAP metric without unreasonable effort.
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Net debt of $126.4 billion at June 30, 2026, is calculated as total debt of $144.0 billion less cash and cash equivalents of $17.6 billion and time deposits (i.e., deposits at financial institutions that are greater than 90 days) of $0. Net debt-to-adjusted EBITDA is calculated by dividing net debt by the sum of the most recent four quarters of adjusted EBITDA. Net debt and adjusted EBITDA estimates depend on future levels of revenues, expenses and other metrics which are not reasonably estimable at this time. Accordingly, we cannot provide a reconciliation between projected net debt-to-adjusted EBITDA and the most comparable GAAP metrics and related ratios without unreasonable effort.
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Original text here: https://about.att.com/story/2026/2q-earnings.html
[Category: BizTelecommunications]