Oppenheimer analysts share their outlook on T-Mobile US, Inc. (NASDAQ:TMUS) upcoming Q3 results, tweaking down their EBITDA estimates.
According to the analysts, the typical seasonal weakness seen in Q4 will be offset by merger-related synergies as the company finishes decommissioning its 3G network in December. Accordingly, the analysts smoothed their EBITDA estimates from Q3 to Q4. The company will enter 2023 with strong momentum as it hits the full run rate of synergies due to the completion of its network shutdown. The analysts expect the company to lead the industry in postpaid phone net adds this quarter with over 750,000 and its fixed wireless customer base is on pace to exceed 2 million subscribers annually and ramping.
The analysts reduced their 2022 EBITDA estimate by 110 bps and lowered their 2023 EBITDA from $29.5 billion to $28.3m billion, both within the guidance range.