ITTI(TDS)2025-02-21 12:38Financial Performance - TDS reported total operating revenues of 1,313 million in Q4 2023[3] - Net income attributable to TDS common shareholders for Q4 2024 was (523) million in Q4 2023[3] - For the full year 2024, total operating revenues were 5,160 million in 2023, representing a decline of 3.8%[5] - UScellular operating revenues decreased by 3% to 1,000 million in 2023[30] - TDS Telecom operating revenues increased by 1% to 261 million in 2023[30] - Total operating expenses decreased by 35% to 1,837 million in 2023[30] - TDS reported a free cash flow of (123) million in Q4 2023, while the full year free cash flow improved to (135) million[51] - UScellular's free cash flow for Q4 2024 was (44) million in Q4 2023, with a full year free cash flow of 192 million[51] Customer Metrics - The company achieved a 27% growth in fixed wireless customers during 2024[8] - As of December 31, 2024, the total postpaid connections were 3,985,000, a decrease from 4,106,000 in the same period last year, reflecting a net loss of 14,000 connections[24] - The average revenue per user (ARPU) for postpaid was 51.61 a year ago, while the average revenue per account (ARPA) was 131.63[24] - The churn rate for postpaid connections increased to 1.29% from 1.22% in the previous year, indicating a decline in customer retention[24] - Total residential connections decreased to 935,600 from 952,900 year-over-year, with total broadband connections remaining stable at 553,000[27] - The total number of residential revenue per connection increased to 62.74 year-over-year, reflecting improved revenue generation per customer[27] - The total number of commercial connections decreased to 190,500 from 210,200 year-over-year, indicating a decline in the commercial segment[27] Capital Expenditures and Investments - Capital expenditures for TDS Telecom are expected to range from 425 million in 2025[14] - Capital expenditures for the quarter were 148 million in the same quarter last year, indicating increased investment in infrastructure[24] - Capital expenditures for UScellular were 148 million in Q4 2023, while year-to-date capital expenditures decreased by 6%[42] Future Projections - TDS Telecom plans to expand its fiber network to over 150,000 new marketable service addresses in 2025[10] - The estimated total operating revenues for TDS Telecom in 2025 are projected to be between 1,070 million[14] - Adjusted EBITDA for TDS Telecom is estimated to be between 360 million for 2025[14] Income and Earnings - Basic earnings per share attributable to TDS common shareholders improved by 98% to (4.64) in 2023[31] - TDS's net income attributable to common shareholders for Q4 2024 was (523) million in Q4 2023, while the full year net income was (569) million[54] - TDS Telecom achieved a net income of 503 million in Q4 2023, with a total net income of 483 million in 2023[58] Operational Metrics - TDS Telecom's operating income for Q4 2024 was 538 million in Q4 2023[47] - UScellular's operating income (loss) for Q4 2024 was 21 million in Q4 2023, indicating a significant decline[42] - UScellular's adjusted OIBDA (Non-GAAP) for Q4 2024 was 194 million in Q4 2023[42] - TDS Telecom's EBITDA (Non-GAAP) for Q4 2024 was 470 million in Q4 2023, with an annual EBITDA of 272 million in 2023[58] Debt and Assets - Total assets decreased to 13,921 million in 2023[36] - Cash and cash equivalents increased to 236 million in 2023[36] - Long-term debt decreased slightly to 4,080 million in 2023[38] - TDS shareholders' equity decreased to 5,202 million in 2023[38]