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AT&T raised its 2026 share repurchase target to approximately $10 billion, up from a previous goal of $8 billion, during its second-quarter 2026 earnings call in July.
The company stated that this increase pulls forward repurchases originally scheduled to occur through 2028.
This shift marks a distinct change in management messaging from the third-quarter 2024 call, when executives emphasized their progress toward debt reduction targets.
Management indicated that the stock was trading at a "very suppressed valuation" and signaled a preference for increased buybacks. As of the reporting period, AT&T shares trade at 7.4 times earnings.
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