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Mar 31, 2021
TDS Q1 2021 Earnings Report
TDS reported strong Q1 2021 results with UScellular raising 2021 guidance and TDS Telecom reaching 500,000 broadband connections.
Key Takeaways
TDS reported total operating revenues of $1,318 million for the first quarter of 2021, compared to $1,261 million for the same period one year ago. Net income attributable to TDS common shareholders was $57 million, or $0.48 per share, compared to $69 million, or $0.59 per share, in the same period one year ago. UScellular increased service revenues and TDS Telecom achieved excellent growth in residential customer connections.
UScellular increased service revenues due to higher ARPU and operational and cost discipline.
UScellular postpaid and prepaid handset additions strengthened compared to the same period a year ago.
TDS Telecom achieved excellent growth in residential customer connections and strong financial performance, driven by higher operating revenue.
TDS Telecom reached 500,000 total customers taking broadband services, with more than half having access to 1Gig service.
Revenue by Segment
Forward Guidance
TDS provided estimates for full-year 2021 results for UScellular and TDS Telecom.
Positive Outlook
- UScellular service revenues are estimated to be between $3,050 million and $3,150 million.
- UScellular adjusted OIBDA is estimated to be between $850 million and $950 million.
- UScellular adjusted EBITDA is estimated to be between $1,025 million and $1,125 million.
- TDS Telecom total operating revenues are estimated to be between $975 million and $1,025 million.
- TDS Telecom adjusted OIBDA is estimated to be between $290 million and $320 million.
Challenges Ahead
- UScellular capital expenditures are estimated to be between $775 million and $875 million.
- TDS Telecom capital expenditures are estimated to be between $425 million and $475 million.
- The impact of income taxes cannot be reasonably predicted; therefore, TDS is unable to provide such guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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