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Mar 31, 2022
TDS Q1 2022 Earnings Report
TDS reported mixed Q1 2022 results with slight revenue decline offset by growth in TDS Telecom, and reaffirmed 2022 guidance.
Key Takeaways
TDS reported total operating revenues of $1,315 million for the first quarter of 2022, a slight decrease from $1,318 million in the same period last year. Net income attributable to TDS common shareholders was $44 million, or $0.37 per share, compared to $57 million, or $0.48 per share, in the prior year. TDS Telecom saw growth in residential broadband connections and revenue, while UScellular focused on growth areas like prepaid and fixed wireless.
TDS Family of Companies is making meaningful progress on strategic priorities.
UScellular's first quarter results delivered growth in retail service revenue, driven by the positive impact of higher ARPU.
TDS Telecom increased residential broadband connections, which contributed to strong residential broadband revenue growth in the quarter.
TDS Telecom announced new fiber-to-the-home expansion markets in Montana and Wisconsin.
TDS
TDS
TDS Revenue by Segment
Revenue by Segment
Array (formerly UScellular) Revenue
CapyFin.comTDS Telecom Revenue
CapyFin.comAll Other Revenue
CapyFin.com Forward Guidance
TDS reaffirmed its full-year 2022 estimated results for UScellular and TDS Telecom. Estimates represent management's view as of May 5, 2022.
Positive Outlook
- UScellular service revenues are projected to be between $3,100 million and $3,200 million.
- UScellular adjusted OIBDA is estimated to be between $750 million and $900 million.
- UScellular adjusted EBITDA is projected to be between $925 million and $1,075 million.
- UScellular capital expenditures are expected to be between $700 million and $800 million.
- TDS Telecom total operating revenues are projected to be between $1,010 million and $1,040 million.
Challenges Ahead
- TDS Telecom adjusted OIBDA is estimated to be between $260 million and $290 million.
- TDS Telecom adjusted EBITDA is projected to be between $260 million and $290 million.
- TDS Telecom capital expenditures are expected to be between $500 million and $550 million.
- Final results could differ materially from estimated results.
- TDS undertakes no duty to update such estimates, whether as a result of new information, future events, or otherwise.
Revenue & Expenses
Visualization of income flow from segment revenue to net income