Results Read-Across and Call Backs (Post #256): Takeaways from TMUS Earnings Call and Callback with IR

Citi summarizes takeaways from T-Mobile US (TMUS.O; US$148.08) 3Q26 results, earnings call and IR callback. Results benefited from better postpaid pricing and favorable rate plan mix, though prepaid and wholesale revenue erosion was larger than initially contemplated in guidance. Citi expects C4Q service revenue growth of roughly 6% yoy, now organic after lapping last year's acquisitions, supporting EBITDA at the high end of guidance and FCF at the upper end of the range, while volume growth remains tighter given rate plan repositioning by Verizon and AT&T. Management views the 3.5% FY26 ARPA growth guide as conservative;