Telephone and Data Systems, Inc. (TDS) has inked a definitive agreement to sell its subsidiaries, OneNeck IT Solutions LLC and OneNeck Data Center Holdings LLC, to US Signal Company, LLC. The transaction, expected to close in the third quarter of 2024 pending customary closing conditions and mandatory regulatory approvals, marks a strategic shift for TDS as it reallocates resources to enhance its fiber program. As a wholly owned subsidiary of TDS, OneNeck specializes in delivering multi-cloud solutions and ...

MADISON, Wis., June 4, 2024 /PRNewswire/ -- TDS Telecom has entered into a stock purchase agreement with RiverStreet Management Services, LLC ("RiverStreet"), a subsidiary of Wilkes Telephone Membership Corporation ("Wilkes") to transfer ownership of two Incumbent Local Exchange Companies (ILECs) in Virginia: Amelia Telephone Corporation ("Amelia") and New Castle Telephone Company ("New Castle"). The agreement was signed Friday, May 31 and is expected to close within the third quarter of 2024, subject to cu ...

CHICAGO, June 3, 2024 /PRNewswire/ -- Telephone and Data Systems, Inc. (NYSE: TDS), today announced the entry into a definitive agreement to sell its wholly owned subsidiaries OneNeck IT Solutions LLC and OneNeck Data Center Holdings LLC (together, "OneNeck") to US Signal Company, LLC. The transaction is subject to the satisfaction of customary closing conditions and is expected to close in the third quarter of 2024. No terms were disclosed. US Signal is acquiring all of the OneNeck operations, including it ...

Core Viewpoint - TDS has reached a definitive agreement to sell UScellular's wireless operations and approximately 30% of its spectrum assets to T-Mobile for $4.4 billion, which includes cash and assumed debt, aiming to enhance service and shareholder value while positioning UScellular for future growth [1][2]. Transaction Details - The sale includes UScellular's wireless operations and select spectrum assets for a total of $4.4 billion, with T-Mobile expected to become a long-term tenant on at least 2,015 additional towers owned by UScellular [2][4]. - UScellular retains approximately 70% of its total spectrum assets, which provides opportunities for future monetization [2]. - The transaction is anticipated to close in mid-2025, pending regulatory approvals and customary closing conditions [4]. Financial Implications - TDS will receive proceeds from the sale in proportion to its ownership of UScellular, which may be used for fiber expansion, reducing leverage, and potentially returning capital to shareholders [3]. - TDS has declared dividends for the second quarter of 2024 at approximately 20% of the previous level for its Common Shares and Series A shares, allowing for additional capital allocation towards growth initiatives [8]. Strategic Focus - TDS remains committed to expanding its fiber footprint and improving profitability, particularly in small and mid-sized suburban and rural communities across the United States [4]. - The transaction is seen as a strategic move to integrate UScellular's operations with T-Mobile to achieve necessary scale and investment for continued customer service delivery [2].

Telephone and Data Systems, Inc. (NYSE:TDS) Q1 2024 Earnings Conference Call May 3, 2024 10:00 AM ET Company Participants Colleen Thompson - Vice President, Corporate Relations Vicki Villacrez - Executive Vice President & Chief Financial Officer LT Therivel - President & Chief Executive Officer, UScellular Doug Chambers - Executive Vice President, Chief Financial Officer & Treasurer Michelle Brukwicki - Senior Vice President of Finance & Chief Financial Officer, TDS Telecom Conference Call Participants Ric ...

Safe Harbor Statement Under the Private Securities Litigation Corporate Update • Improved profitability 3 • Fixed wireless connections grew 42% • Continued mid-band deployment Gross Additions (in thousands) 87 96 106 114 124 1Q'23 2Q'23 3Q'23 4Q'23 1Q'24 Churn 1.06% 1.01% 1.11% 1.22% 1.03% 1.27%1.21% 1.30% 1.44% 1.22% Handsets Total Postpaid Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Net Additions (in thousands) scellula *uscellular. All information set forth in this presentation about Telephone and Data Systems, Inc., ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-14157 TELEPHONE AND DATA SYSTEMS, INC. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of in ...

Financial Performance - TDS reported total operating revenues of $1,262 million for Q1 2024, a decrease of 3.2% from $1,303 million in Q1 2023[3] - Net income attributable to TDS common shareholders was $12 million, compared to a net loss of $(9) million in the same period last year, resulting in diluted earnings per share of $0.10[3] - Net income attributable to TDS shareholders increased to $29 million in Q1 2024, compared to $8 million in Q1 2023[29] - Net income for the three months ended March 31, 2024, increased to $38 million, compared to $12 million in the same period of 2023, representing a 216.67% increase[32] - Total operating revenues for the three months ended March 31, 2024, were $266 million, up 5% from $253 million in the same period of 2023[40] - Free cash flow for TDS consolidated was $(20) million for the three months ended March 31, 2024, an improvement from $(293) million in the same period of 2023[42] - Cash flows from operating activities for TDS consolidated increased to $224 million in Q1 2024, compared to $46 million in Q1 2023[42] - The overall financial performance indicates strong growth and improved profitability metrics year-over-year[45] Revenue and Growth Metrics - UScellular's service revenues decreased by 2%, while postpaid ARPU grew by 3%[8] - Operating revenues for TDS Telecom grew by 5%, with residential revenues increasing by 10% year-over-year[8] - Total operating revenues for UScellular decreased by 4% to $950 million in Q1 2024 compared to $986 million in Q1 2023[29] - TDS Telecom's operating revenues increased by 5% to $266 million in Q1 2024, compared to $253 million in Q1 2023[29] - The company reported a 71% increase in expansion residential revenues, rising to $26 million in Q1 2024 from $15 million in Q1 2023[40] Customer Metrics - UScellular reported a total of 4,051,000 postpaid connections at the end of Q1 2024, a decrease of 1.3% from 4,106,000 in Q4 2023[22] - The average revenue per user (ARPU) for postpaid increased to $51.96 in Q1 2024, up from $51.61 in Q4 2023, reflecting a growth of 0.68%[22] - Total residential broadband connections increased by 8,100 during Q1 2024, reaching 547,900[26] - The churn rate for postpaid connections improved to 1.22% in Q1 2024, down from 1.44% in Q4 2023[22] - UScellular's postpaid churn rate was reduced by 4%, and fixed wireless customers increased by 42% to 124,000[8] Capital Expenditures and Investments - Adjusted EBITDA for UScellular is estimated to be between $920 million and $1,020 million for 2024, with capital expenditures projected at $550 million to $650 million[11] - TDS Telecom deployed an additional 28,000 marketable fiber service addresses in Q1 2024 and is on track to deliver 125,000 new addresses by the end of 2024[8] - Long-term debt, net, increased to $4,164 million as of March 31, 2024, compared to $4,080 million as of December 31, 2023[36] - Capital expenditures for UScellular were $131 million in Q1 2024, a decrease from $148 million in Q4 2023[22] Operational Improvements - Operating income for TDS Telecom for the three months ended March 31, 2024, was $27 million, compared to $8 million in the same period of 2023, indicating significant operational improvement[40] - Adjusted EBITDA (Non-GAAP) rose to $95 million in Q1 2024, up from $69 million in Q1 2023, reflecting a 37.68% increase[45] - Operating income (GAAP) improved to $27 million in Q1 2024 compared to $8 million in Q1 2023, marking a 237.5% increase[45] - The company reported an adjusted OIBDA (Non-GAAP) of $93 million in Q1 2024, up from $68 million in Q1 2023, a growth of 36.76%[45] Strategic Initiatives - TDS is actively exploring strategic alternatives for UScellular, with the review process ongoing[8]

*uscellular. 2This presentation contains certain non-GAAP financial measures. Information about these non-GAAP financial measures and reconciliations between each non-GAAP financial measure and the most directly comparable GAAP measure are contained in the appendix to this presentation. Supporting our business units as they make key investments *uscellular. Cost optimization program remains strong; Adjusted EBITDA grew 3% Network modernization completed; focusing on multi-year mid-band deployment going forw ...

Telephone and Data Systems, Inc. (NYSE:TDS) Q4 2023 Earnings Conference Call February 16, 2024 10:00 AM ET Company Participants Colleen Thompson - VP, Corporate Relations Vicki Villacrez - EVP & CFO Laurent Therivel - President, CEO & Director Douglas Chambers - EVP, CFO and Treasurer Michelle Brukwicki - CFO, TDS Telecommunications LLC Conference Call Participants Richard Prentiss - Raymond James Simon Flannery - Morgan Stanley Michael Rollins - Citigroup Sergey Dluzhevskiy - GAMCO Investors Operator Good ...