*uscellular Second Quarter 2024 Results August 2, 2024 Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995 All information set forth in this presentation about Telephone and Data Systems, Inc., including its subsidiaries UScellular and TDS Telecom, except historical and factual information, represents forward-looking statements. This includes all statements about the company's plans, beliefs, estimates, and expectations. These statements are based on current estimates, projectio ...

For the quarter ended June 2024, Telephone & Data Systems (TDS) reported revenue of $1.24 billion, down 2.3% over the same period last year. EPS came in at -$0.13, compared to -$0.17 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $1.24 billion, representing a surprise of +0.02%. The company delivered an EPS surprise of +18.75%, with the consensus EPS estimate being -$0.16. While investors closely watch year-over-year changes in headline numbers -- revenue and earni ...

Telephone & Data Systems (TDS) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.16. This compares to loss of $0.17 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 18.75%. A quarter ago, it was expected that this parent of U.S. Cellular and TDS Telecom would post a loss of $0.22 per share when it actually produced earnings of $0.10, delivering a surprise of 145.45%. Over the ...

CHICAGO, Aug. 2, 2024 /PRNewswire/ -- As previously announced, TDS will hold a teleconference on August 2, 2024, 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 $1,238 million for the second quarter of 2024, versus $1,267 million for the same period one year ago. Net income (loss) attributable to TDS common shareholders and related diluted earnings (loss) per share were $(1 ...

Core Viewpoint - The analysis updates the outlook on Telephone and Data Systems (TDS) ahead of Q2 2024 earnings, with a shift in rating from hold to buy, reflecting a potential upside from the sale of US Cellular assets [1][24]. Financial Performance - TDS has seen a 32% return since the last analysis, outperforming the S&P 500, which yielded 7% [1]. - For Q2 2024, TDS is expected to announce an EPS of -$0.13 and revenue of $1.24 billion, both down sequentially and year-over-year [15]. US Cellular Sale - The sale of US Cellular is a significant focus, with management working to advance the deal while maintaining business stability [2]. - The potential sale price range for TDS shares is estimated between $17.30 and $37+, depending on the deal's outcome [2][32]. - T-Mobile's acquisition of US Cellular's wireless business and 30% of its spectrum for $4.4 billion is anticipated to close in mid-2025, pending regulatory approval [17]. Regulatory Environment - Regulatory scrutiny has increased, with a group of senators requesting careful examination of the T-Mobile and US Cellular deal, raising concerns about market consolidation and consumer impact [6][10]. - T-Mobile has experience in navigating regulatory challenges, as seen in its previous merger with Sprint, which may mitigate risks associated with the current deal [11][32]. Valuation and Price Target - The current market cap of US Cellular is $4.49 billion, with TDS owning 83% of it, suggesting a potential value of approximately $4.5 billion for TDS shareholders, translating to an upside of over 80% from the current market cap of $2.4 billion [21]. - Price targets for TDS range from $22.50 to $35 per share, with a best-case scenario indicating an 80-90% growth in share price if the deal proceeds with concessions [32][30]. Guidance and Future Outlook - TDS's guidance for service revenues and adjusted EBITDA remains unchanged, indicating stability in financial expectations despite the ongoing sale process [4]. - The analysis suggests that the most likely scenario is the merger proceeding with concessions, which would positively impact TDS's valuation [32].

CHICAGO, July 26, 2024 /PRNewswire/ -- Telephone and Data Systems, Inc. (NYSE: TDS) and United States Cellular Corporation (NYSE: USM) will be webcasting their second quarter operating results conference call on August 2, 2024, at 9:00 a.m. Central Time. The companies will release their financial results on August 2, 2024, before the market opens. To listen to the webcast, please visit the events & presentations pages of investors.tdsinc.com or investors.uscellular.com. The presentations will be webcast bot ...

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Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Group 1: Company Overview - Telephone & Data Systems (TDS) currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2] - TDS has experienced a share price increase of 2.58% over the past week, matching the performance of the Zacks Wireline - National industry [4] - Over the last month, TDS shares have risen by 7.27%, again aligning with the industry's performance [4] Group 2: Trading Volume and Market Position - The average 20-day trading volume for TDS is 1,107,698 shares, which serves as a bullish indicator when combined with rising stock prices [5] - TDS has a Zacks Rank of 1 (Strong Buy), suggesting it is positioned to outperform the market [8] Group 3: Performance Metrics - Over the past quarter, TDS shares have increased by 37.22%, and over the last year, they have surged by 176.05%, significantly outperforming the S&P 500, which rose by 10% and 27.2% respectively [10] - Recent earnings estimate revisions for TDS show one upward revision for the full year, raising the consensus estimate from -$0.48 to -$0.33 [13]

Core Viewpoint - The preferred stock of Telephone and Data Systems has seen a significant decrease in yield from 13.0% to 8.3%, but the safety of the preferred dividend has improved due to a strategic asset sale, despite ongoing challenges related to debt and company size post-transaction [2][4]. Group 1: Transaction and Financial Impact - Telephone and Data Systems has approved the sale of US Cellular's wireless operations and approximately 30% of its spectrum assets to T-Mobile for $4.4 billion, which includes cash and debt [8]. - The deal is expected to close in mid-2025, but significant hurdles remain, including potential antitrust scrutiny from U.S. regulators [1]. - The company will become much smaller after the sale, raising concerns about its ability to maintain preferred dividends in the long run [2][1]. Group 2: Dividend and Yield Analysis - The preferred dividend yield has decreased from 13.0% to 8.3%, but the recent asset sale has made the preferred dividend much safer in the short term [2][4]. - The company pays $70 million annually on preferred dividends, with total preferred equity of $1.07 billion, indicating that preferred equity comprises 21% of total equity [8]. - The reduction of the common dividend by 79% is expected to save about $66 million per year, aiding in covering preferred dividends [8]. Group 3: Interest Rate Environment - High interest rates have pressured preferred stocks, but inflation has decreased from a 40-year high of 9.1% to 3.0%, leading to expectations of interest rate cuts by the Federal Reserve [5]. - The Fed's guidance suggests a potential reduction of interest rates from 5.25%-5.5% to 2.75%-3.0% after 2026, which could benefit the preferred stock [5]. Group 4: Debt and Financial Struggles - Telephone and Data Systems has faced challenges in servicing its debt, with net interest expenses rising 48% from $157 million in 2022 to $228 million, exceeding operating income of $191 million [9]. - The company carries a net debt of $6.5 billion, nearly triple the market capitalization of its common stock, indicating a high debt burden [9]. - The recent financial struggles have led to a significant reduction in the common dividend after 49 consecutive years of growth [7].

TDS Mobile will be covered by a national 5G mobile network as the company enters the Mobile Virtual Network Operator (MVNO) market through the established National Content & Technology Cooperative (NCTC) partnerships. "TDS Telecom's decision to enter the mobile market aligns perfectly with our mission to simplify and accelerate network-based service launches. We are thrilled to partner with TDS Telecom and support their commitment to delivering exceptional value and high-quality service to their customers t ...