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AT&T (T) Extends Utility IoT Reach With LTE M Gas And Water Deal

Simply Wall St · 1d ago
  • AT&T (NYSE:T) extended its collaboration with Itron to connect utility gas and water modules to AT&T's LTE-M network.
  • The integrated offering targets remote meter reading and leak detection for utility providers using Itron's next generation IoT modules.
  • The LTE-M based solution is designed to support secure, two way data transmission between Itron devices and AT&T's cellular infrastructure.
  • The LTE-M integration with Itron's gas and water modules is one piece of a broader AT&T connectivity story for investors. Take a look at 4 warning signs (1 major) we have identified for AT&T.

For a wider view on how connectivity and machine data intersect with computing power, consider the broader set of businesses building the infrastructure behind AI through 92 AI infrastructure stocks.

NYSE:T Earnings & Revenue Growth as at Oct 2026
NYSE:T Earnings & Revenue Growth as at Oct 2026

AT&T operates as a large US telecommunications and technology provider, with a long history of managing national networks and large enterprise clients. This gives it a practical footing for projects that connect millions of utility devices reliably over cellular infrastructure.

4 things going right for AT&T that this headline doesn't cover.

How AT&T’s Itron deal leans into the fiber and 5G Narrative

The AT&T Narrative is built on turning heavy network investment into recurring, higher value service relationships, and this Itron extension plugs that thesis into utilities and grid infrastructure. It effectively tests whether the same fiber and 5G bets can support low-touch, machine-to-machine traffic as well as consumer data use.

"Accelerated investments in 5G and fiber infrastructure, now supported by a multi year fiber supply agreement worth over US$3b and part of more than US$250b of planned U.S. network spending over the next five years, continue to expand AT&T's reach and are aimed at supporting recurring service revenue growth and future earnings power..."

See how the full story points towards a $29.05 fair value for AT&T.

This Itron agreement leans into the Narrative’s push for recurring service revenue by attaching AT&T’s LTE-M network to long-lived gas and water modules that utilities rely on daily. It supports the idea that AT&T’s fiber and 5G spend can be monetised not only through iPhones and households, but through industrial and municipal data flows that Verizon and T-Mobile are also chasing.

The deal does not answer the key concern that analysts flag, which is whether these machine connections scale fast enough to offset pressure from device subsidies and copper-era costs. Execution risk stays front and centre, because the utility wins only really matter if they eventually show up as measurable support for margins and free cash flow rather than just extra network load.

To make sense of this kind of announcement, you need a clear view of where AT&T is trying to take its network and earnings mix, which is exactly what a structured Narrative is designed to spell out.

Add AT&T to your Watchlist and get alerts as these catalysts play out.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.