T-Mobile US Inc at Citi TMT Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Michael Rollins - Citigroup Inc. - Analyst : So It's great to have you here. And just maybe thinking back since you've joined the executive management team from the Board, can you give us a sense of what you've been focused on for T-Mobile?

Question: Michael Rollins - Citigroup Inc. - Analyst : And so you're touching on this that there's more growth opportunity in front of you. What do you think the market is underappreciating about the opportunities of what T-Mobile can pursue to extend that momentum of revenue growth, expanding margins and the free cash flow conversion?

Question: Michael Rollins - Citigroup Inc. - Analyst : And it feels like that this is something that, as a company, T-Mobile has been thinking about for some time. Is there kind of a timing or steps that investors should be mindful of of when they might see the next incremental legs of progress for T-Mobile on this?

Question: Michael Rollins - Citigroup Inc. - Analyst : Now maybe a couple more on strategy. So T-Mobile has a different philosophy, it seems, on converged services, different from your competitors that are pushing the narrative on convergence and bundling. How does T-Mobile look at this differently?

Question: Michael Rollins - Citigroup Inc. - Analyst : So when you look at the fiber footprint today, it's approaching maybe 10% of the US in terms of passings opportunities. I think that's like by 2030. What are the circumstances under which you try to make that significantly larger, whether you do it on a direct basis, build or own assets, partner or resell? Do you look to try to find a resell partner to try to get more access to it? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Michael Rollins - Citigroup Inc. - Analyst : Very helpful. Maybe digging into the mobility business. You put out a release earlier today. You maintained the postpaid phone net add guidance, but you're absorbing a business that's losing phone subs. Can you talk us through what's happening in this business and helping the organic side of the outlook?

Question: Michael Rollins - Citigroup Inc. - Analyst : And within that context, last quarter, you delivered a very efficient quarter with better phone net adds on lower churn than what was expected. When you look at the performance this quarter, what are you seeing from the switcher pool? And does the upside more of a function of gross adds or churn? Just maybe a little context of what you're seeing out of the marketplace.

Question: Michael Rollins - Citigroup Inc. - Analyst : Maybe turning to ARPU. ARPU was also strong in the second quarter and first half of the year. What are you seeing in terms of the drivers to the ARPU? And how do you look at the sustainability of expanding the ARPU?

Question: Michael Rollins - Citigroup Inc. - Analyst : And when we think about just the third piece, the pricing. So of course, focus, as you mentioned, is number one, number two in terms of that list of three. But on the repricing side, what was interesting is over the last few months, you have these new premium plans that add the taxes and fees to that. There's other value that you put into the plans. How are those resonating? And is that a tailwind that might be underappreciated as a contributor to service revenue growth over the next 12 months?

Question: Michael Rollins - Citigroup Inc. - Analyst : What are you expecting in terms of upgrades as we're going to the seasonal device upgrade cycle?

Question: Michael Rollins - Citigroup Inc. - Analyst : And then in terms of the competitive landscape, anything else that you're seeing incrementally in terms of changes from the cable converged promos or some of the acquisition offers that are in the market?

Question: Michael Rollins - Citigroup Inc. - Analyst : And is there another frontier for T-Mobile where you feel like you're underpenetrated and you have a real opportunity to win? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Michael Rollins - Citigroup Inc. - Analyst : And just maybe on the SMRA side of the equation, with the acquisition and integration of UScellular, can you talk about accelerating the timetable for synergies and opportunity and how that kind of fits into the overall SMRA strategy?

Question: Michael Rollins - Citigroup Inc. - Analyst : And just you mentioned the network leads me to think about spectrum. And just curious for your interest to acquire additional spectrum. And specifically, if you could share some perspectives on whether or not T-Mobile has taken a look at the EchoStar spectrum position recently and if it has bands that would benefit T-Mobile and your customers?

Question: Michael Rollins - Citigroup Inc. - Analyst : So speaking of FWA, you've kept up momentum in terms of quarterly net adds in that business. What's been driving the momentum in terms of broadening coverage versus deepening penetration in existing markets?

Question: Michael Rollins - Citigroup Inc. - Analyst : So momentum is still going?

Question: Michael Rollins - Citigroup Inc. - Analyst : And on the fiber broadband side, so a newer business for you guys. You put out some goals, I think, for the second half of the year. How is that performing? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Michael Rollins - Citigroup Inc. - Analyst : So as you look at the multiyear guidance that you have, are you identifying any incremental opportunities, whether it's for growth or for efficiencies and margin?

Question: Michael Rollins - Citigroup Inc. - Analyst : What I also remember about the analyst meeting is you talked about the T-Life application opportunity and the opportunity to just create more of a digital healthy experience for customers. You now have -- you mentioned 75 million on the T-Life--?

Question: Michael Rollins - Citigroup Inc. - Analyst : Downloaded it. And so what's your progress towards this goal of reducing that inbound customer care calls by 75% and leveraging AI to improve the customer experience?

Question: Michael Rollins - Citigroup Inc. - Analyst : And the engagement -- so outside of the store, so after people leave and then just are they managing their service experience, how are you seeing engagement on the app? Of course, you've got T-Mobile Tuesdays on there.

Question: Michael Rollins - Citigroup Inc. - Analyst : So when you reflect back on your experience on the Board and now in the management team, how is your view of capital allocation evolving, including the mix of what you're doing with the dividend versus buybacks?

Question: Michael Rollins - Citigroup Inc. - Analyst : Is there anything else you want our group to just keep in mind as they think about T-Mobile? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies.

Question: Michael Rollins - Citigroup Inc. - Analyst : Thank you for joining us today.