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Mar 31, 2024
TDS Q1 2024 Earnings Report
TDS reported mixed Q1 2024 results with revenue decrease but improved profitability.
Key Takeaways
TDS reported a decrease in total operating revenues to $1,262 million, compared to $1,303 million in the same period last year. Net income attributable to TDS common shareholders was $12 million, a significant improvement from the $(9) million loss in the prior year. UScellular showed improvements in profitability with increased postpaid ARPU and reduced churn, while TDS Telecom saw strong growth in revenue and profitability driven by broadband investments.
UScellular's service revenues decreased by 2%, but postpaid ARPU grew by 3%.
UScellular's postpaid churn rate reduced by 4%.
TDS Telecom's residential broadband connections grew by 6%.
TDS Telecom's operating revenues grew by 5%, and residential revenues grew by 10%.
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 provided estimates for full-year 2024 results for UScellular and TDS Telecom.
Positive Outlook
- UScellular service revenues are expected to be between $2,950 million and $3,050 million.
- UScellular adjusted OIBDA is expected to be between $750 million and $850 million.
- UScellular adjusted EBITDA is expected to be between $920 million and $1,020 million.
- TDS Telecom total operating revenues are expected to be between $1,070 million and $1,100 million.
- TDS Telecom adjusted OIBDA is expected to be between $310 million and $340 million.
Challenges Ahead
- UScellular capital expenditures are expected to be between $550 million and $650 million.
- TDS Telecom adjusted EBITDA is expected to be between $310 million and $340 million.
- TDS Telecom capital expenditures are expected to be between $310 million and $340 million.
- Estimates do not reflect any anticipated costs, expenses or results of the strategic alternatives review.
- There can be no assurance that final results will not differ materially from estimated results.
Revenue & Expenses
Visualization of income flow from segment revenue to net income