Anzeige
Mehr »
Login
Samstag, 03.05.2025 Börsentäglich über 12.000 News von 693 internationalen Medien
Met-Kohle-Margen, die selbst Branchengrößen blass aussehen lassen...
Anzeige

Indizes

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Aktien

Kurs

%
News
24 h / 7 T
Aufrufe
7 Tage

Xetra-Orderbuch

Fonds

Kurs

%

Devisen

Kurs

%

Rohstoffe

Kurs

%

Themen

Kurs

%

Erweiterte Suche

WKN: A1JS1Q | ISIN: US8794338298 | Ticker-Symbol:
NASDAQ
02.05.25
21:59 Uhr
34,455 US-Dollar
-3,085
-8,22 %
Branche
Telekom
Aktienmarkt
S&P SmallCap 600
1-Jahres-Chart
TELEPHONE & DATA SYSTEMS INC Chart 1 Jahr
5-Tage-Chart
TELEPHONE & DATA SYSTEMS INC 5-Tage-Chart
PR Newswire
72 Leser
Artikel bewerten:
(0)

Telephone and Data Systems, Inc.: TDS reports first quarter 2025 results

Finanznachrichten News

CHICAGO, May 2, 2025 /PRNewswire/ --

As previously announced, TDS will hold a teleconference on May 2, 2025, at 9:00 a.m. CDT. Listen to the call live via the Events & Presentations page of investors.tdsinc.com.

Telephone and Data Systems, Inc. (NYSE:TDS) reported total operating revenues of $1,154 million for the first quarter of 2025, versus $1,262 million for the same period one year ago. Net income (loss) attributable to TDS common shareholders and related diluted earnings (loss) per share were $(10) million and $(0.09), respectively, for the first quarter of 2025 compared to $12 million and $0.10, respectively, in the same period one year ago.

Recent Highlights*

UScellular

  • Improved postpaid handset results
    • Postpaid handset gross additions increased; postpaid handset net losses improved
  • Third-party tower rental revenues increased 6%
  • Ongoing 5G mid-band network deployment
    • Providing capacity and enhanced speed for our mobility and fixed wireless customers

TDS Telecom

  • TDS Telecom revenues down 3%, impacted by 2024 divestitures of non-strategic assets
  • Executing on fiber broadband strategy
    • Delivered 14,000 marketable fiber services addresses in Q1
    • Added 2,800 residential broadband net additions; 8,300 from fiber markets

* Comparisons are 1Q'24 to 1Q'25 unless otherwise noted

"As we work towards the expected mid-2025 closing of the sale of the wireless operations, the remaining businesses - fiber and towers - are making foundational changes that will support TDS' transformation," said Walter Carlson, TDS President and CEO. "In the first quarter, TDS and TDS Telecom results were impacted from the prior year divestitures of non-strategic assets, including the sale of One Neck and certain ILECs. TDS Telecom is continuing its fiber deployment adding 14,000 marketable fiber service addresses in the quarter while also investing in programs to streamline operations, enhance the customer experience and improve margins over time. And the tower business is continuing to grow the number of colocations and revenues, with third-party tower revenues increasing 6% in the quarter."

Announced Transactions and Exploration of Strategic Alternatives for UScellular

On May 24, 2024, TDS and UScellular entered into a Securities Purchase Agreement to sell UScellular's wireless operations and select spectrum assets to T-Mobile US, Inc. (T-Mobile). The transaction is expected to close in mid-2025, subject to regulatory approval and the satisfaction of customary closing conditions. When the proposed T-Mobile transaction closes, UScellular expects the UScellular Board of Directors to declare the first of potentially several, special dividends to UScellular shareholders.

On October 17, 2024, UScellular, and certain subsidiaries of UScellular, entered into a License Purchase Agreement with Verizon Communications, Inc. (Verizon) to sell certain AWS, Cellular and PCS wireless spectrum licenses, subject to receipt of regulatory approvals, and agreed to grant Verizon certain rights to lease such licenses prior to the transaction close. Additionally, UScellular also entered into agreements with Nsight Spectrum, LLC and Nex-Tech Wireless, LLC for the sale of select spectrum licenses.

On November 6, 2024, UScellular, and certain subsidiaries of UScellular, entered into a License Purchase Agreement with New Cingular Wireless PCS, LLC (AT&T), a subsidiary of AT&T, Inc. to sell certain 3.45 GHz and 700 MHz wireless spectrum licenses, subject to receipt of regulatory approvals, and agreed to grant AT&T certain rights to lease and sub-lease such licenses prior to the transaction close.

Due to the pending transaction with T-Mobile, UScellular is not providing 2025 financial guidance.

2025 Estimated Results
TDS' current estimates of full-year 2025 results for TDS Telecom are shown below. Such estimates represent management's view as of May 2, 2025 and should not be assumed to be current as of any future date. TDS undertakes no duty to update such estimates, whether as a result of new information, future events, or otherwise. There can be no assurance that final results will not differ materially from estimated results.

2025 Estimated Results


TDS Telecom

Previous

Current

(Dollars in millions)



Total operating revenues

$1,030-$1,070

Unchanged

Adjusted OIBDA1 (Non-GAAP)

$310-$350

Unchanged

Adjusted EBITDA1 (Non-GAAP)

$320-$360

Unchanged

Capital expenditures

$375-$425

Unchanged

The following tables reconcile EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measures, Net income or Income before income taxes. In providing 2025 estimated results, TDS has not completed the below reconciliation to Net income because it does not provide guidance for income taxes. Although potentially significant, TDS believes that the impact of income taxes cannot be reasonably predicted; therefore, TDS is unable to provide such guidance.


2025 Estimated
Results


Actual Results

TDS Telecom


Three Months Ended

March 31, 2025


Year Ended

December 31, 2024

(Dollars in millions)






Net income (GAAP)

N/A


$ 4


$ 85

Add back:






Income tax expense

N/A


1


35

Income before income taxes (GAAP)

$20-$60


$ 5


$ 120

Add back:






Interest expense

-


(1)


(5)

Depreciation, amortization and accretion expense

300


71


271

EBITDA (Non-GAAP)1

$320-$360


$ 75


$ 385

Add back or deduct:






Loss on impairment of intangible assets

-


-


1

(Gain) loss on asset disposals, net

-


2


12

(Gain) loss on sale of business and other exit costs, net

-


-


(49)

Adjusted EBITDA (Non-GAAP)1

$320-$360


$ 76


$ 350

Deduct:






Interest and dividend income

5


1


5

Other, net

5


2


4

Adjusted OIBDA (Non-GAAP)1

$310-$350


$ 73


$ 340


Numbers may not foot due to rounding.



1

EBITDA, Adjusted EBITDA and Adjusted OIBDA are defined as net income adjusted for the items set forth in the reconciliation above. EBITDA, Adjusted EBITDA and Adjusted OIBDA are not measures of financial performance under Generally Accepted Accounting Principles in the United States (GAAP) and should not be considered as alternatives to Net income or Cash flows from operating activities, as indicators of cash flows or as measures of liquidity. TDS does not intend to imply that any such items set forth in the reconciliation above are infrequent or unusual; such items may occur in the future. Management uses Adjusted EBITDA and Adjusted OIBDA as measurements of profitability, and therefore reconciliations to Net income are deemed appropriate. Management believes Adjusted EBITDA and Adjusted OIBDA are useful measures of TDS' operating results before significant recurring non-cash charges, nonrecurring expenses, gains and losses, and other items as presented above as they provide additional relevant and useful information to investors and other users of TDS' financial data in evaluating the effectiveness of its operations and underlying business trends in a manner that is consistent with management's evaluation of business performance. Adjusted EBITDA shows adjusted earnings before interest, taxes, depreciation, amortization and accretion, gains and losses, while Adjusted OIBDA reduces this measure further to exclude Equity in earnings of unconsolidated entities and Interest and dividend income in order to more effectively show the performance of operating activities excluding investment activities. The table above reconciles EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measure, Net income or Income before income taxes.

Conference Call Information
TDS will hold a conference call on May 2, 2025 at 9:00 a.m. Central Time.

  • Access the live call on the Events & Presentations page of investors.tdsinc.com or at
    https://events.q4inc.com/attendee/224819726
  • Access the call by phone at (888)330-2384, conference ID: 1328528.

Before the call, certain financial and statistical information to be discussed during the call will be posted to investors.tdsinc.com. The call will be archived on the Events & Presentations page of investors.tdsinc.com.

About TDS
Telephone and Data Systems, Inc. (TDS) provides wireless, broadband, video and voice to approximately 5.5 million connections nationwide through its businesses, UScellular and TDS Telecom. Founded in 1969 and headquartered in Chicago, TDS employed approximately 7,800 associates as of March 31, 2025.

Visit investors.tdsinc.com for comprehensive financial information, including earnings releases, quarterly and annual filings, shareholder information and more.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the company's plans, beliefs, estimates, and expectations, including with respect to the expected closing date of the transaction with T-Mobile. These statements are based on current estimates, projections, and assumptions, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to: whether the announced transactions whereby UScellular has agreed to sell its wireless operations and selected spectrum assets will be successfully completed; whether any such strategic alternative will result in additional value for TDS or its shareholders and whether the process will have an adverse impact on TDS' businesses; intense competition; the ability to attract people of outstanding talent throughout all levels of the organization; TDS' lack of scale relative to larger competitors; changes in demand, consumer preferences and perceptions, price competition, or churn rates; advances in technology; impacts of costs, integration problems or other factors associated with acquisitions, divestitures or exchanges of properties and/or expansion of TDS' businesses; the ability of the company to successfully construct and manage its networks; difficulties involving third parties with which TDS does business; uncertainties in TDS' future cash flows and liquidity and access to the capital markets; the ability to make payments on TDS and UScellular indebtedness or comply with the terms of debt covenants; the effect on TDS' business if the collateral securing its secured term loan is foreclosed upon; conditions in the U.S. telecommunications industry; the value of assets and investments; the state and federal regulatory environment, including changes in regulatory support received and the ability to pass through certain regulatory fees to customers; pending and future litigation; cyber-attacks or other breaches of network or information technology security; control by the TDS Voting Trust; disruption in credit or other financial markets; deterioration of U.S. or global economic conditions; and the impact, duration and severity of public health emergencies. Investors are encouraged to consider these and other risks and uncertainties that are more fully described under "Risk Factors" in the most recent filing of TDS' Form 10-K, as updated by any TDS Form 10-Q filed subsequent to such Form 10-K.

For more information about TDS and its subsidiaries, visit:
TDS: www.tdsinc.com
UScellular: www.uscellular.com
TDS Telecom: www.tdstelecom.com

United States Cellular Corporation

Summary Operating Data (Unaudited)

As of or for the Quarter Ended

3/31/2025


12/31/2024


9/30/2024


6/30/2024


3/31/2024

Retail Connections










Postpaid










Total at end of period1

3,946,000


3,985,000


3,999,000


4,027,000


4,051,000

Gross additions

105,000


140,000


123,000


117,000


106,000

Handsets

68,000


93,000


84,000


73,000


63,000

Connected devices

37,000


47,000


39,000


44,000


43,000

Net additions (losses)1

(39,000)


(14,000)


(28,000)


(24,000)


(44,000)

Handsets

(38,000)


(19,000)


(28,000)


(29,000)


(47,000)

Connected devices

(1,000)


5,000


-


5,000


3,000

ARPU2

$ 52.06


$ 51.73


$ 52.04


$ 51.45


$ 51.96

ARPA3

$ 132.25


$ 131.10


$ 131.81


$ 130.41


$ 132.00

Handset upgrade rate4

3.1 %


4.8 %


3.5 %


4.1 %


4.5 %

Churn rate5

1.21 %


1.29 %


1.25 %


1.16 %


1.22 %

Handsets

1.03 %


1.08 %


1.07 %


0.97 %


1.03 %

Connected devices

2.40 %


2.67 %


2.47 %


2.47 %


2.52 %

Prepaid










Total at end of period1

431,000


448,000


452,000


439,000


436,000

Gross additions

38,000


46,000


57,000


50,000


41,000

Net additions (losses)1

(17,000)


(4,000)


13,000


3,000


(13,000)

ARPU2

$ 30.76


$ 30.59


$ 32.01


$ 32.37


$ 32.25

Churn rate5

4.17 %


3.70 %


3.30 %


3.60 %


4.06 %

Market penetration at end of period










Consolidated operating population

31,390,000


32,550,000


32,550,000


32,550,000


32,550,000

Consolidated operating penetration6

17 %


15 %


15 %


15 %


14 %

Capital expenditures (millions)

$ 53


$ 162


$ 120


$ 165


$ 131

Total cell sites in service

7,009


7,010


7,007


6,990


6,995

Owned towers

4,413


4,409


4,407


4,388


4,382

Number of colocations 7

2,469


2,444


2,418


2,392


2,397

Tower tenancy rate 8

1.56


1.55


1.55


1.55


1.55




1

First quarter 2024 connections were adjusted to remove subscribers that could no longer access the UScellular network due to the CDMA shutdown. This resulted in 11,000 and 2,000 subscribers removed from the postpaid and prepaid base, respectively, that are not included in Net additions (losses) for the quarter.



2

Average Revenue Per User (ARPU) - metric is calculated by dividing a revenue base by an average number of connections and by the number of months in the period. These revenue bases and connection populations are shown below:




Postpaid ARPU consists of total postpaid service revenues and postpaid connections.





Prepaid ARPU consists of total prepaid service revenues and prepaid connections.




3

Average Revenue Per Account (ARPA) - metric is calculated by dividing total postpaid service revenues by the average number of postpaid accounts and by the number of months in the period.



4

Handset upgrade rate calculated as total handset upgrade transactions divided by average postpaid handset connections.



5

Churn rate represents the percentage of the connections that disconnect service each month. These rates represent the average monthly churn rate for each respective period.



6

Market penetration is calculated by dividing the number of wireless connections at the end of the period by the total estimated population of consolidated operating markets.



7

Represents instances where a third-party wireless carrier rents or leases space on a company-owned tower.



8

Average number of tenants that lease space on company-owned towers, measured on a per-tower basis.

TDS Telecom

Summary Operating Data (Unaudited)

As of or for the Quarter Ended

3/31/2025


12/31/2024


9/30/2024


6/30/2024


3/31/2024

Residential connections










Broadband










Incumbent Fiber

119,700


118,500


115,900


113,100


109,800

Incumbent Copper

112,600


116,900


125,600


130,600


135,300

Expansion Fiber

133,200


126,100


115,300


107,800


100,400

Cable

190,200


191,500


195,900


198,500


202,400

Total Broadband1

555,800


553,000


552,700


550,000


547,900

Video

118,700


121,000


122,100


124,800


128,800

Voice

256,900


261,600


271,300


275,600


279,400

Total Residential connections

931,400


935,600


946,100


950,400


956,100

Commercial connections

187,600


190,500


197,200


201,500


206,200

Total connections 2

1,119,000


1,126,100


1,143,300


1,152,000


1,162,200











Total residential broadband net adds

2,800


7,900


2,700


2,100


6,400











Residential fiber churn3

0.9 %


1.0 %


1.3 %


1.2 %


1.0 %

Total residential broadband churn

1.3 %


1.4 %


1.7 %


1.7 %


1.4 %











Residential revenue per connection 4

$ 65.67


$ 64.72


$ 65.41


$ 65.26


$ 64.58











Capital expenditures (millions)

$ 59


$ 82


$ 78


$ 78


$ 87



Numbers may not foot due to rounding.



1

Total residential broadband connections increased by 8,100 during the three months ended March 31, 2024, due primarily to net additions of 6,400 as well as certain other adjustments.



2

Q1 2024 total connections include 18,100 subscribers that were part of the 2024 divestitures.



3

Residential fiber churn represents the percentage of incumbent and expansion fiber connections that disconnected service each month. These rates represent the average monthly churn rate for each respective period.



4

Total residential revenue per connection is calculated by dividing total residential revenue by the average number of residential connections and by the number of months in the period.

Telephone and Data Systems, Inc.

Consolidated Statement of Operations Highlights

(Unaudited)


Three Months Ended

March 31,


2025


2024


2025

vs. 2024

(Dollars and shares in millions, except per share amounts)






Operating revenues






UScellular

$ 891


$ 950


(6) %

TDS Telecom

257


266


(3) %

All Other1

6


46


(87) %


1,154


1,262


(9) %

Operating expenses






UScellular






Expenses excluding depreciation, amortization and accretion

686


729


(6) %

Depreciation, amortization and accretion

163


165


(2) %

(Gain) loss on asset disposals, net

2


6


(65) %

(Gain) loss on license sales and exchanges, net

(1)


(1)


18 %


850


899


(5) %

TDS Telecom






Expenses excluding depreciation, amortization and accretion

184


173


6 %

Depreciation, amortization and accretion

71


65


10 %

(Gain) loss on asset disposals, net

2


2


(9) %


258


240


7 %

All Other1






Expenses excluding depreciation and amortization

13


53


(76) %

Depreciation and amortization

-


4


(74) %

(Gain) loss on asset disposals, net

-


(1)


N/M

(Gain) loss on sale of business and other exit costs, net

(1)


-


N/M


11


56


(77) %

Total operating expenses

1,119


1,195


(6) %

Operating income (loss)






UScellular

41


51


(19) %

TDS Telecom

-


27


N/M

All Other1

(6)


(11)


38 %


35


67


(49) %

Other income (expense)






Equity in earnings of unconsolidated entities

37


42


(14) %

Interest and dividend income

6


5


28 %

Interest expense

(61)


(57)


(3) %

Other, net

3


1


N/M

Total other expense

(15)


(9)


(46) %

Income before income taxes

20


58


(65) %

Income tax expense

8


20


(57) %

Net income

12


38


(69) %

Less: Net income attributable to noncontrolling interests, net of tax

5


9


(49) %

Net income attributable to TDS shareholders

7


29


(74) %

TDS Preferred Share dividends

17


17


-

Net income (loss) attributable to TDS common shareholders

$ (10)


$ 12


N/M







Basic weighted average shares outstanding

115


113


1 %

Basic earnings (loss) per share attributable to TDS common shareholders

$ (0.09)


$ 0.11


N/M







Diluted weighted average shares outstanding

115


117


(2) %

Diluted earnings (loss) per share attributable to TDS common shareholders

$ (0.09)


$ 0.10


N/M



N/M - Percentage change not meaningful.



Numbers may not foot due to rounding.



1

Consists of TDS corporate, intercompany eliminations and all other business operations not included in the UScellular and TDS Telecom segments.

Telephone and Data Systems, Inc.

Consolidated Statement of Cash Flows

(Unaudited)


Three Months Ended

March 31,


2025


2024

(Dollars in millions)




Cash flows from operating activities




Net income

$ 12


$ 38

Add (deduct) adjustments to reconcile net income to net cash flows from operating activities




Depreciation, amortization and accretion

234


234

Bad debts expense

21


31

Stock-based compensation expense

28


14

Deferred income taxes, net

7


14

Equity in earnings of unconsolidated entities

(37)


(42)

Distributions from unconsolidated entities

11


22

(Gain) loss on asset disposals, net

4


7

(Gain) loss on sale of business and other exit costs, net

(1)


-

(Gain) loss on license sales and exchanges, net

(1)


(1)

Other operating activities

2


1

Changes in assets and liabilities from operations




Accounts receivable

1


27

Equipment installment plans receivable

38


2

Inventory

-


24

Accounts payable

(17)


(35)

Customer deposits and deferred revenues

(7)


6

Accrued taxes

1


4

Accrued interest

9


9

Other assets and liabilities

(119)


(131)

Net cash provided by operating activities

186


224





Cash flows from investing activities




Cash paid for additions to property, plant and equipment

(129)


(235)

Cash paid for licenses

(2)


(11)

Cash received from divestitures

8


-

Net cash used in investing activities

(123)


(246)





Cash flows from financing activities




Issuance of long-term debt

-


140

Repayment of long-term debt

(8)


(57)

Tax payments, net of cash receipts, for TDS stock-based compensation awards

(6)


(1)

Tax payments, net of cash receipts, for UScellular stock-based compensation awards

(7)


-

Repurchase of UScellular Common Shares

(21)


-

Dividends paid to TDS shareholders

(22)


(39)

Distributions to noncontrolling interests

(2)


(2)

Cash paid for software license agreements

(10)


(9)

Other financing activities

-


(2)

Net cash provided by (used in) financing activities

(76)


30





Net increase (decrease) in cash, cash equivalents and restricted cash

(13)


8





Cash, cash equivalents and restricted cash




Beginning of period

384


270

End of period

$ 371


$ 278

Telephone and Data Systems, Inc.

Consolidated Balance Sheet Highlights

(Unaudited)


ASSETS






March 31, 2025


December 31, 2024

(Dollars in millions)




Current assets




Cash and cash equivalents

$ 348


$ 364

Accounts receivable, net

1,004


1,041

Inventory, net

182


183

Prepaid expenses

98


72

Income taxes receivable

3


2

Other current assets

38


33

Total current assets

1,673


1,695





Assets held for sale

14


-





Licenses

4,590


4,588





Other intangible assets, net

154


161





Investments in unconsolidated entities

527


500





Property, plant and equipment, net

4,871


4,994





Operating lease right-of-use assets

978


982





Other assets and deferred charges

729


762





Total assets

$ 13,536


$ 13,682

Telephone and Data Systems, Inc.

Consolidated Balance Sheet Highlights

(Unaudited)


LIABILITIES AND EQUITY






March 31, 2025


December 31, 2024

(Dollars in millions, except per share amounts)




Current liabilities




Current portion of long-term debt

$ 35


$ 31

Accounts payable

247


280

Customer deposits and deferred revenues

276


283

Accrued interest

25


16

Accrued taxes

41


39

Accrued compensation

62


150

Short-term operating lease liabilities

151


153

Other current liabilities

123


138

Total current liabilities

960


1,090





Liabilities held for sale

5


-





Deferred liabilities and credits




Deferred income tax liability, net

987


981

Long-term operating lease liabilities

867


867

Other deferred liabilities and credits

807


809





Long-term debt, net

4,042


4,051





Noncontrolling interests with redemption features

16


16





Equity




TDS shareholders' equity




Series A Common and Common Shares, par value $0.01 per share

1


1

Capital in excess of par value

2,581


2,574

Preferred Shares, par value $0.01 per share

1,074


1,074

Treasury shares, at cost

(414)


(425)

Accumulated other comprehensive income

18


18

Retained earnings

1,818


1,849

Total TDS shareholders' equity

5,078


5,091





Noncontrolling interests

774


777





Total equity

5,852


5,868





Total liabilities and equity

$ 13,536


$ 13,682

Balance Sheet Highlights

(Unaudited)




March 31, 2025




TDS


TDS
Corporate


Intercompany


TDS


UScellular


Telecom


& Other


Eliminations


Consolidated

(Dollars in millions)










Cash and cash equivalents

$ 182


$ 124


$ 167


$ (125)


$ 348











Licenses and other intangible assets

$ 4,581


$ 157


$ 6


$ -


$ 4,744

Investment in unconsolidated entities

479


4


51


(7)


527


$ 5,060


$ 161


$ 57


$ (7)


$ 5,271











Property, plant and equipment, net

$ 2,394


$ 2,459


$ 18


$ -


$ 4,871











Long-term debt, net:










Current portion

$ 26


$ -


$ 9


$ -


$ 35

Non-current portion

2,829


3


1,210


-


4,042


$ 2,855


$ 3


$ 1,219


$ -


$ 4,077

United States Cellular Corporation

Segment Results

(Unaudited)



Three Months Ended

March 31,

UScellular

2025


2024


2025
vs. 2024

(Dollars in millions)






Operating Revenues






Wireless

$ 864


$ 925


(7) %

Towers

61


58


5 %

Intra-company eliminations

(34)


(33)


(3) %

Total operating revenues

891


950


(6) %







Operating expenses






Wireless

844


896


(6) %

Towers

40


36


11 %

Intra-company eliminations

(34)


(33)


(3) %

Total operating expenses

850


899


(5) %







Operating income

$ 41


$ 51


(19) %







Adjusted OIBDA (Non-GAAP)

$ 215


$ 228


(6) %

Adjusted EBITDA (Non-GAAP)

$ 254


$ 272


(7) %

Capital expenditures

$ 53


$ 131


(60) %

United States Cellular Corporation

Segment Results

(Unaudited)



Three Months Ended

March 31,

UScellular Wireless

2025


2024


2025
vs. 2024

(Dollars in millions)






Retail service

$ 660


$ 678


(3) %

Other

54


51


8 %

Service revenues

714


729


(2) %

Equipment sales

150


196


(24) %

Total operating revenues

864


925


(7) %







System operations (excluding Depreciation, amortization and accretion reported below)

191


197


(3) %

Cost of equipment sold

178


216


(18) %

Selling, general and administrative

322


324


-

Depreciation, amortization and accretion

152


154


(2) %

(Gain) loss on asset disposals, net

2


6


(73) %

(Gain) loss on license sales and exchanges, net

(1)


(1)


18 %

Total operating expenses

844


896


(6) %







Operating income

$ 20


$ 29


(30) %







Adjusted OIBDA (Non-GAAP)

$ 182


$ 195


(7) %

Adjusted EBITDA (Non-GAAP)

$ 182


$ 195


(7) %

Capital expenditures

$ 51


$ 127


(60) %



Three Months Ended

March 31,

UScellular Towers

2025


2024


2025
vs. 2024

(Dollars in millions)






Third-party revenues

$ 27


$ 25


6 %

Intra-company revenues

34


33


3 %

Total tower revenues

61


58


5 %







System operations (excluding Depreciation, amortization and accretion reported below)

19


18


4 %

Selling, general and administrative

10


7


33 %

Depreciation, amortization and accretion

11


11


5 %

Total operating expenses

40


36


11 %







Operating income

$ 21


$ 22


(5) %







Adjusted OIBDA (Non-GAAP)

$ 33


$ 33


(1) %

Adjusted EBITDA (Non-GAAP)

$ 33


$ 33


(1) %

Capital expenditures

$ 2


$ 4


(42) %

TDS Telecom Highlights

(Unaudited)








Three Months Ended

March 31,


2025


2024


2025

vs. 2024

(Dollars in millions)






Operating revenues






Residential






Incumbent

$ 86


$ 90


(5) %

Expansion

34


26


33 %

Cable

64


70


(8) %

Total residential

184


185


(1) %

Commercial

35


37


(6) %

Wholesale

39


44


(12) %

Total service revenues

257


266


(3) %

Equipment revenues

-


-


23 %

Total operating revenues

257


266


(3) %







Cost of services

101


98


3 %

Cost of equipment and products

-


-


47 %

Selling, general and administrative expenses

83


75


10 %

Depreciation, amortization and accretion

71


65


10 %

(Gain) loss on asset disposals, net

2


2


(9) %

Total operating expenses

258


240


7 %







Operating income

$ -


$ 27


N/M


N/M - Percentage change not meaningful


Numbers may not foot due to rounding.

Telephone and Data Systems, Inc.

Financial Measures

(Unaudited)

Free Cash Flow



Three Months Ended

March 31,

TDS CONSOLIDATED

2025


2024

(Dollars in millions)




Cash flows from operating activities (GAAP)

$ 186


$ 224

Cash paid for additions to property, plant and equipment

(129)


(235)

Cash paid for software license agreements

(10)


(9)

Free cash flow (Non-GAAP)1

$ 47


$ (20)



Three Months Ended

March 31,

UScellular

2025


2024

(Dollars in millions)




Cash flows from operating activities (GAAP)

$ 160


$ 203

Cash paid for additions to property, plant and equipment

(72)


(133)

Cash paid for software license agreements

(9)


(9)

Free cash flow (Non-GAAP)1

$ 79


$ 61



1

Free cash flow is a non-GAAP financial measure which TDS believes may be useful to investors and other users of its financial information in evaluating liquidity, specifically, the amount of net cash generated by business operations after deducting Cash paid for additions to property, plant and equipment and Cash paid for software license agreements.

Telephone and Data Systems, Inc.
EBITDA, Adjusted EBITDA and Adjusted OIBDA
(Unaudited)

The following table reconciles EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measures, Net income and Income before income taxes. Income and expense items below Operating income are not provided at the individual segment level for UScellular Wireless and UScellular Towers; therefore, the reconciliations begin with EBITDA and the most directly comparable GAAP measure is Operating income rather than Net income at the segment level.


Three Months Ended

March 31,

UScellular

2025


2024

(Dollars in millions)




Net income (GAAP)

$ 20


$ 24

Add back or deduct:




Income tax expense

20


28

Income before income taxes (GAAP)

40


52

Add back:




Interest expense

40


43

Depreciation, amortization and accretion expense

163


165

EBITDA (Non-GAAP)

243


260

Add back or deduct:




Expenses related to strategic alternatives review

10


7

(Gain) loss on asset disposals, net

2


6

(Gain) loss on license sales and exchanges, net

(1)


(1)

Adjusted EBITDA (Non-GAAP)

254


272

Deduct:




Equity in earnings of unconsolidated entities

36


42

Interest and dividend income

3


2

Adjusted OIBDA (Non-GAAP)

$ 215


$ 228



Three Months Ended

March 31,

UScellular Wireless

2025


2024

(Dollars in millions)




EBITDA (Non-GAAP)

$ 172


$ 183

Add back or deduct:




Expenses related to strategic alternatives review

9


7

(Gain) loss on asset disposals, net

2


6

(Gain) loss on license sales and exchanges, net

(1)


(1)

Adjusted EBITDA and Adjusted OIBDA (Non-GAAP)

182


195

Deduct:




Depreciation, amortization and accretion

152


154

Expenses related to strategic alternatives review

9


7

(Gain) loss on asset disposals, net

2


6

(Gain) loss on license sales and exchanges, net

(1)


(1)

Operating income (GAAP)

$ 20


$ 29



Three Months Ended

March 31,

UScellular Towers

2025


2024

(Dollars in millions)




EBITDA (Non-GAAP)

$ 32


$ 33

Add back or deduct:




Expenses related to strategic alternatives review

1


-

Adjusted EBITDA and Adjusted OIBDA (Non-GAAP)

33


33

Deduct:




Depreciation, amortization and accretion

11


11

Expenses related to strategic alternatives review

1


-

Operating income (GAAP)

$ 21


$ 22



Three Months Ended

March 31,

TDS Telecom

2025


2024

(Dollars in millions)




Net income (GAAP)

$ 4


$ 24

Add back or deduct:




Income tax expense

1


7

Income before income taxes (GAAP)

5


31

Add back:




Interest expense

(1)


(2)

Depreciation, amortization and accretion expense

71


65

EBITDA (Non-GAAP)

75


93

Add back or deduct:




(Gain) loss on asset disposals, net

2


2

Adjusted EBITDA (Non-GAAP)

76


95

Deduct:




Interest and dividend income

1


1

Other, net

2


1

Adjusted OIBDA (Non-GAAP)

$ 73


$ 93


Numbers may not foot due to rounding.

SOURCE Telephone and Data Systems, Inc.

© 2025 PR Newswire
Werbehinweise: Die Billigung des Basisprospekts durch die BaFin ist nicht als ihre Befürwortung der angebotenen Wertpapiere zu verstehen. Wir empfehlen Interessenten und potenziellen Anlegern den Basisprospekt und die Endgültigen Bedingungen zu lesen, bevor sie eine Anlageentscheidung treffen, um sich möglichst umfassend zu informieren, insbesondere über die potenziellen Risiken und Chancen des Wertpapiers. Sie sind im Begriff, ein Produkt zu erwerben, das nicht einfach ist und schwer zu verstehen sein kann.