T-Mobile US Inc (NYSE:TMUS) Q1 2019 Earnings Conference Call - Final Transcript

Apr 25, 2019 • 04:30 pm ET

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T-Mobile US Inc (NYSE:TMUS) Q1 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good afternoon. Welcome to the T-Mobile US First Quarter 2019 Earnings Call. Following opening remarks, the earnings call will be open for questions via the question line or via Twitter. (Operator Instructions) I would now like to turn the conference over to Mr. Nils Paellmann, Head of Investor Relations for T-Mobile US.

Please go ahead sir.

Executive
Nils Paellmann

Yeah. Thank you very much. Welcome to T-Mobile's first quarter 2019 earnings call. With me today are: John Legere, our CEO; Mike Sievert, our President and COO; Braxton Carter, our CFO; and other members of the senior leadership team. Let me read the disclaimer, during this call, we will make forward-looking statements that include projections and statements about our future financial and operating results, our plans, the benefits we expect to receive from the proposed merger with Sprint and other statements that are not historical facts.

Such statements are based upon the current beliefs and expectations of our management and subject to significant risks and uncertainties, outside of our control that could cause our actual results to differ materially, including the risk factors set forth in our Annual Report on Form 10-K and our quarterly report on Form 10-Q.

Reconciliations between GAAP and the non-GAAP results we discuss on this call can be found in the quarterly results section of the Investor Relations page of our website. In addition, in connection with the proposed transaction on July 30, 2018 we filed a registration statement on Form S-4 with the SEC related to the merger. The registration statement, became effective on October 29, 2018 and is available on the new T-Mobile website, contains important information about T-Mobile and Sprint. The merger and related matters.

With this, let me turn it over to John Legere.

Executive
John J. Legere

Okay. Well done Nils. Good afternoon everyone, welcome to T-Mobile's first quarter 2019 earnings call and Twitter conference, coming to you live from Bellevue, Washington. T- Mobile is off to a fast start in 2019, and I could not be more excited about the state of our business and the opportunities ahead.

We have a lot to cover today, so let's start with our incredible results. The two carriers reported earlier this week, and one of the big cable giants reported this morning, so most of the cards are on the table for Q1, and I have to say, I really like our hand. In a quarter where Verizon had 44,000 postpaid phone losses and AT&T lost 55,000 postpaid phone customers for a total combined loss of 99,000. Comcast added 170,000 below expectations, I might add, and even with Charter and Sprint left to report, T-Mobile still took an estimated 88% of the industry's postpaid phone growth.

We also put up a customer growth number that accelerated year-over-year, extended our streak of more than 1 million total nets per quarter to six years, and delivered an all-time, record low postpaid phone churn result of 0.88%. By the way, that churn number is better than AT&T and within 4 basis points of Verizon's.