TELEPHONE DATA SYSTEMS INC DE
For the period ended Jun 30, 2024. Filed Aug 2, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 2, 2024
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UScellular Operations
Business Overview
UScellular provides wireless service throughout its footprint, and leases tower space to third-party carriers on UScellular-owned towers. UScellular’s strategy is to attract and retain customers by providing a high-quality network, outstanding customer service, and competitive devices, plans and pricing - all provided with a community focus. UScellular is an 82%-owned subsidiary of TDS.
OPERATIONS
Serves customers with 4.5 million retail connections including approximately 4.0 million postpaid and 0.4 million prepaid connections
Operates in 21 states
Employs approximately 4,300 associates
Owns 4,388 towers
Operates 6,990 cell sites in service
Financial Overview — UScellular
| Three Months EndedJune 30, | Six Months EndedJune 30, | |||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2024 vs. 2023 | 2024 | 2023 | 2024 vs. 2023 | |
| (Dollars in millions) | ||||||
| Operating Revenues | ||||||
| Wireless | $902 | $932 | (3)% | $1,826 | $1,892 | (3)% |
| Towers | 58 | 57 | 3% | 116 | 113 | 3% |
| Intra-company eliminations | (33) | (32) | (4)% | (65) | (63) | (3)% |
| Total operating revenues | 927 | 957 | (3)% | 1,877 | 1,942 | (3)% |
| Operating expenses | ||||||
| Wireless | 885 | 916 | (3)% | 1,779 | 1,868 | (5)% |
| Towers | 39 | 39 | 1% | 75 | 76 | (1)% |
| Intra-company eliminations | (33) | (32) | (4)% | (65) | (63) | (3)% |
| Total operating expenses | 891 | 923 | (3)% | 1,789 | 1,881 | (5)% |
| Operating income | $36 | $34 | 6% | $88 | $61 | 44% |
| Net income | $18 | $5 | N/M | $42 | $20 | N/M |
| Adjusted OIBDA (Non-GAAP)1 | $227 | $198 | 14% | $456 | $404 | 13% |
| Adjusted EBITDA (Non-GAAP)1 | $268 | $239 | 13% | $542 | $491 | 10% |
| Capital expenditures2 | $165 | $143 | 15% | $295 | $351 | (16)% |
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