Earnings Projections - Analysts project United States Cellular (USM) will announce quarterly earnings of $0.33 per share, reflecting a 65% increase year over year [1] - Revenues are expected to reach $904.19 million, a decline of 2.5% from the same quarter last year [1] - The consensus EPS estimate has remained unchanged over the past 30 days, indicating analysts' reassessment of projections [1] Revenue Estimates - 'Operating Revenues- Service' is estimated at $728.62 million, indicating a year-over-year change of -1.9% [4] - 'Net operating revenues- Service- Retail' is projected to be $650.86 million, reflecting a year-over-year change of -2.3% [4] - 'Operating Revenues- Equipment sales' is expected to reach $175.58 million, showing a year-over-year change of -4.6% [4] Customer Metrics - 'Net additions (losses) - Retail Connections - Prepaid' are expected to reach 4.00 million, up from 3.00 million a year ago [5] - 'Gross additions - Retail Connections - Postpaid' are projected at 101.81 million, down from 117.00 million in the same quarter last year [5] - 'Customers - Total (Total connections)' is likely to reach 4.39 million, compared to 4.47 million a year ago [6] Stock Performance - U.S. Cellular shares have recorded returns of +12.9% over the past month, compared to the Zacks S&P 500 composite's +0.5% change [6] - Based on its Zacks Rank 3 (Hold), USM is expected to perform in line with the overall market in the upcoming period [6]

Financial Data and Key Metrics Changes - TELUS achieved total mobile and fixed customer growth of 198,000 in Q2 2025, driven by mobile phone and connected device additions of 167,000 and fixed customer additions of 31,000 [5][6] - TTEC EBITDA growth, including TELUS Health, was up 4%, consistent with Q1 results, while mobile phone net additions were 55,000 and connected device net additions were 112,000 [6][7] - Free cash flow increased by CAD 535 million, an 11% rise compared to the same period last year, driven by higher EBITDA and lower capital expenditures [21][23] Business Line Data and Key Metrics Changes - TELUS Health reported an extraordinary growth in operating revenue and adjusted EBITDA of 1629% respectively, with a significant increase in global lives covered to almost 160 million [8][19] - Fixed data services revenue grew by 3%, marking the eighteenth consecutive quarter of positive growth, supported by subscriber ARPU growth in Internet and security services [18][19] - Mobile network revenue saw a slight decline due to lower mobile phone ARPU, which decreased by 3.3% amid competitive pressures [17] Market Data and Key Metrics Changes - The Canadian market is showing signs of stabilization, with improvements in ARPU trends across new activations and customer renewals [17][39] - TELUS is committed to expanding broadband services in Ontario and Quebec with a CAD 2 billion investment, reflecting confidence in the Canadian market [4][5] Company Strategy and Development Direction - TELUS is focusing on bundling wireless and wireline broadband services, aiming to differentiate itself through innovative offerings such as AI-driven smart home solutions and next-generation healthcare [4][5] - The company is pursuing a strategy of monetizing its tower infrastructure through a partnership with Akeis, which will enhance financial flexibility and support balance sheet deleveraging [11][24] - TELUS is leveraging its existing assets for new opportunities, particularly in AI and data centers, to drive long-term value creation [79][99] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the operating environment, noting that the market is transitioning from irrational pricing to more sustainable pricing models [39][41] - The company anticipates continued improvements in its leverage ratio, aiming for a net debt to EBITDA ratio of three times by 2027 [22][24] - Management emphasized the importance of customer experience and product differentiation as key drivers for future growth [44][46] Other Important Information - TELUS Friendly Future Foundation raised over CAD 2.6 million to support student bursaries, reflecting the company's commitment to community support [15] - The company is actively working on real estate rationalization and copper monetization, with significant opportunities identified in these areas [71][73] Q&A Session Summary Question: Strategic shift regarding the proposed privatization of TIAXT - Management clarified that the move is related to supporting deleveraging goals and should not be interpreted as a change in monetization strategy for other tech ventures [28][29] Question: Financial details on the tower entity - Management did not disclose specific EBITDA figures but confirmed that all towers will operate at fair market value rent, ensuring positive cash flow [30][31] Question: Long-term impact of tower deal and deployment of more towers - The demand for data is increasing, and the partnership with Terion will allow for continued tower construction and co-location opportunities, enhancing cash flow [36][38] Question: Sustainability of recent pricing improvements in wireless - Management noted that while certainty is not guaranteed, the current trend is encouraging, and the market must shift from irrational pricing to rational pricing for sustainability [39][41] Question: Update on fixed data growth sustainability - Management expressed confidence in the sustainability of fixed data growth, supported by diverse service offerings and strong customer experience [66][68] Question: Plans for new data center construction - TELUS has already invested in world-class data centers and is leveraging these assets for AI initiatives, minimizing the need for additional capital investment [97][99]

Group 1: High-Yield Dividend Stocks - The Dow Jones Industrial Average includes 30 industry-leading companies that provide high-yield dividend stocks, offering solid options for passive income [1] - The average yield on the S&P 500 and Dow Jones ranges from 1.13% to 1.50%, with Dow Jones stocks paying yields over twice the S&P 500 average [2] Group 2: Verizon Communications - Verizon has increased its dividend for 18 consecutive years, currently offering a forward dividend yield of 6.24% with a quarterly payment of $0.6775 [4] - Verizon's trailing yield of 6.4% is significantly higher than AT&T's 4%, indicating it may be undervalued [5] - Verizon reported total revenue growth of 5.2% year over year in the second quarter, outperforming AT&T's 3.5% growth [6] - The company has over 5 million fixed wireless subscribers and aims to reach at least 8 million by 2028, with an acquisition of Frontier Communications expected to boost growth [7] - Verizon's C-band rollout is ahead of schedule, enhancing its 5G Ultra Wideband service and doubling its 5G speeds [8] - The company generated $19.6 billion in free cash flow over the last year, paying less than 60% in dividends, allowing for reinvestment in the business [9] Group 3: Procter & Gamble - Procter & Gamble has paid a dividend every year since 1890, with a portfolio of household products that ensures consistent sales [11] - Despite economic headwinds, P&G's adjusted sales and earnings grew 1% year over year in the most recent quarter [12] - The company has a profit margin of 18%, allowing it to reinvest in the business while funding dividend payments [13] - P&G has increased its dividend for 69 consecutive years, with a compound annual growth rate of 5% over the last decade, currently offering a forward yield of 2.68% [15] - The company produced $15 billion in free cash flow over the last year, paying out two-thirds in dividends [15] - Analysts expect P&G's adjusted earnings to grow at an annualized rate of 4% over the long term, with dividends likely to grow in line with earnings [16]

Core Points - Adam Emrich has been appointed as Vice President of Customer Solutions and Sales at Southern Linc, effective August 2, 2025 [1][2] - Emrich will oversee various teams including Sales and Marketing, Customer Experience, and Customer Operations, managing all aspects of customer experience [2] - He brings expertise in business optimization, financial leadership, and customer engagement to the role [3] - Prior to joining Southern Linc, Emrich served as Customer Solutions Operations Director at Georgia Power, handling multiple operational responsibilities [4] - Emrich has a diverse background with roles in Power Delivery, External Affairs, Accounting, Finance, Sales, and Customer Solutions, and holds a Bachelor's degree in Business Administration [5] - He is also actively involved in community service, serving on the advisory board of the Atlanta Community Food Bank and coaching youth sports [6] Company Overview - Southern Linc is a wireless communications company wholly owned by Southern Company, which serves 9 million customers across the Southeast [7] - The company provides mission-critical LTE wireless services to Southern Company subsidiaries and public sector customers in Alabama, Georgia, and southeastern Mississippi [1][7] - Southern Linc's CriticalLinc™ 4G LTE Advanced network offers highly reliable and secure wireless voice and data services, supporting critical business processes [7]

Core Insights - Verizon is relocating its headquarters to PENN 2 in Midtown Manhattan, reinforcing its commitment to New York City and its community [2][3] - The new headquarters will house approximately 1,000 corporate employees and occupy over 195,000 square feet of office space [7] - Verizon has been a vital part of New York City's infrastructure, providing connectivity to public safety agencies and small businesses [3][4] Company Overview - Verizon generated revenues of $134.8 billion in 2024 and serves nearly all Fortune 500 companies [9] - The company operates more than 400 retail locations across New York City and is recognized for its network quality [7][11] Strategic Partnerships - Verizon has established partnerships with major sports teams and venues in New York City, enhancing its presence in the sports and entertainment sector [4][6] - The company will serve as the Official Mobile Wireless Partner for Madison Square Garden, improving fan experiences at various events [4] Location Benefits - PENN 2 offers direct access to 15 subway lines and other transit options, facilitating employee connectivity and collaboration [5][6] - The location is designed to foster innovation and collaboration among employees, aligning with modern workplace trends [6]

Core Insights - Verizon is opening a new headquarters at PENN 2 in Midtown Manhattan, reinforcing its commitment to New York City and its economic growth [2][3] - The new headquarters will house approximately 1,000 corporate employees and provide a collaborative environment [3][7] - Verizon has been a key player in New York City's connectivity and public safety for 25 years, with over 400 retail locations and a flagship store opening soon [3][7] Company Overview - Verizon generated revenues of $134.8 billion in 2024 and serves nearly all Fortune 500 companies [9] - The company is recognized as America's 'Most-Awarded Network for Quality' by J.D. Power and New York City's 1 'Best, Most Reliable and Fastest Network' by RootMetrics [7][9] Location and Facilities - The PENN 2 office will occupy over 195,000 square feet, including more than 25,000 square feet of outdoor space, and is strategically located above Penn Station [5][7] - The location offers direct access to 15 subway lines and various transit services, enhancing connectivity for employees [5][6] Community Engagement - Verizon has established partnerships with major sports teams in New York City, enhancing its presence in the local sports and entertainment landscape [4] - The company aims to create a vibrant workplace that reflects its culture and fosters collaboration among employees [3][6]

Core Viewpoint - United States Cellular Corporation (UScellular) plans to issue a special cash dividend of approximately $1.950 billion to $2.075 billion, contingent on the successful closing of its wireless operations sale to T-Mobile US, Inc. The expected dividend per share is between $22.50 and $23.75, pending board approval [1][2]. Financial Details - The gross purchase price for the sale is estimated at $4.4 billion, with adjustments leading to a net cash available for distribution of $1.950 billion to $2.075 billion after accounting for various financial obligations and adjustments [3]. - Specific deductions from the gross purchase price include a contingent purchase price adjustment of $90 million, repayment of term loans totaling $865 million, and a cash tax obligation of $275 million, among others [3]. Shareholder Impact - Telephone and Data Systems, Inc. (TDS), which will own approximately 81% of UScellular's equity post-transaction, will receive its proportional share of the special dividend [4]. Corporate Changes - Following the closing of the sale, UScellular intends to rebrand itself as Array Digital Infrastructure, Inc., with Doug Chambers appointed as interim CEO of the new entity [5]. Operational Context - UScellular currently serves 4.4 million retail connections across 21 states and had 4,100 employees as of March 31, 2025. The company is expected to have a significantly different operational profile after the sale of its wireless operations [6][7].

Core Points - United States Cellular Corporation (UScellular) announced the appointment of Doug Chambers as interim President and CEO of the post-closing entity, Array Digital Infrastructure, Inc. [1][2][7] - The sale of UScellular's wireless operations to T-Mobile US, Inc. is expected to close on August 1, 2025, subject to closing conditions [1][2] - The company will change its ticker symbol on the NYSE to "AD" from "USM" following the name change [3] - A special cash dividend in the range of $22.50 - $23.75 per Common Share and Series A Common Share is expected to be approved by the board after the sale closes [4] Company Developments - Doug Chambers has been with the TDS family of companies since 2007 and has served as Executive Vice President, CFO, and Treasurer of UScellular for the past six years [2] - The new company, Array Digital Infrastructure, Inc., will focus on overseeing operations related to its portfolio of 4,400 owned towers and retained wireless spectrum [1][2] - The headquarters of Array Digital Infrastructure, Inc. will remain in Chicago, IL [3] Financial Information - UScellular had approximately 4.4 million retail connections across 21 states as of March 31, 2025 [5] - Telephone and Data Systems, Inc. owned about 83 percent of UScellular at the end of the first quarter of 2025 [5]

Group 1 - T-Mobile US Inc shares crossed above their 200-day moving average of $238.93, reaching a high of $251.75 per share, and are currently up about 5.8% on the day [1] - The 52-week low for T-Mobile US Inc shares is $173.74, while the 52-week high is $276.49, with the last trade recorded at $248.05 [4]

Core Insights - T-Mobile, US, Inc. (TMUS) reported strong second-quarter 2025 results, with both revenue and net income exceeding estimates, driven by significant postpaid customer growth [1][10] Financial Performance - Net income for Q2 was $3.22 billion, or $2.84 per share, reflecting a 10.2% increase from $2.92 billion or $2.49 per share in the same quarter last year, surpassing the Zacks Consensus Estimate of $2.69 [2][10] - Total revenues reached $21.13 billion, up from $19.77 billion year-over-year, driven by robust service revenue growth, and exceeded the consensus estimate of $20.97 billion [3][10] Segment Results - Total service revenues were $17.43 billion, an increase from $16.42 billion in the previous year, with a 6.1% year-over-year growth primarily due to strong demand for postpaid services [4] - Postpaid services generated $14.07 billion in revenues, marking a 9.1% increase year-over-year [4] - Equipment revenues rose to $3.43 billion from $3.1 billion in the prior year, attributed to a higher average revenue per device sold [7] Customer Growth - T-Mobile added 1.7 million postpaid net customers and 318,000 postpaid net accounts during the quarter, with a postpaid phone churn rate of 0.9% [5] - Average revenue per postpaid account increased to $149.87 from $142.54 year-over-year [5] Cash Flow and Liquidity - Cash generated from operating activities was $6.99 billion, up from $5.52 billion in the prior year, with adjusted free cash flow of $4.6 billion, an increase from $4.4 billion [11] - As of June 30, 2025, T-Mobile had $10.25 billion in cash and cash equivalents, alongside $75.01 billion in long-term debt [11] Outlook - T-Mobile has raised its 2025 guidance, now expecting postpaid net customer additions between 6.1 million and 6.4 million, up from the previous estimate of 5.5-6 million [12] - Core adjusted EBITDA is projected to be between $33.3 billion and $33.7 billion, with anticipated cash from operating activities in the range of $27.1 billion to $27.5 billion [12]