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Telephone and Data Systems Inc. (TDS), listed on the NYSE under the symbol TDS, is a Fortune 1000® company that provides a broad range of telecommunications services. The company's segments include UScellular, TDS Telecom, and OneNeck IT Solutions. Headquartered in Chicago, IL, TDS was founded in 1969 and employs approximately 8,600 associates as of March 31, 2024.
TDS operates through several key businesses:
- UScellular: This segment offers comprehensive wireless services and products to around 5 million customers nationwide. With a strong emphasis on customer support, UScellular ensures a high-quality network experience.
- TDS Telecommunications Corp.: Based in Madison, WI, this subsidiary provides high-speed internet, TV entertainment, and phone services to residential and business customers in rural, suburban, and metropolitan communities. TDS Telecom has also been aggressively expanding its fiber network, aiming to deliver faster internet speeds up to 8 Gigabits.
- OneNeck IT Solutions: Specializing in hybrid IT solutions, OneNeck offers cloud hosting, managed services, and advanced IT services through data centers located across several states, including Arizona, Colorado, Iowa, Minnesota, Oregon, and Wisconsin.
TDS is committed to continuous improvement and innovation, as evidenced by its recent achievements. The company has reported strong growth in its fiber broadband connections, having surpassed 100,000 residential broadband connections in its expansion markets. TDS Telecom plans to extend its fiber service to 1.2 million marketable addresses and aims to offer 1 Gig or higher speeds to at least 80% of its footprint.
In 2024, TDS announced several significant developments. These include a decision to explore strategic alternatives for UScellular, resulting in an agreement to sell its wireless operations and a portion of its spectrum assets to T-Mobile for $4.4 billion. The transaction is expected to close by mid-2025, pending regulatory approval. Additionally, TDS has entered an agreement to sell its OneNeck IT Solutions business to US Signal Company, LLC, with the proceeds earmarked to support the company’s fiber expansion initiatives.
Financially, TDS has shown resilience and adaptability, reporting total operating revenues of $1,262 million for the first quarter of 2024. The company continues to strategically manage its capital, including a recent $375 million unsecured debt financing to further support its fiber build-out program.
Overall, TDS aims to maintain its trajectory of growth and innovation, ensuring excellent service and connectivity for its customers across the United States.
TDS reported operating revenues of $1,328 million for Q3 2021, a slight increase from $1,324 million in Q3 2020. However, net income fell to $28 million or $0.24 per share, down from $78 million or $0.66 per share a year ago. UScellular exhibited growth in retail service revenues, driven by postpaid ARPU improvements, while TDS Telecom noted strong broadband connection growth. Full-year estimates for UScellular and TDS Telecom indicate service revenues and capital expenditures adjustments. TDS repurchased shares amounting to $22 million in Q3 2021.
Telephone and Data Systems (TDS) and United States Cellular Corporation (USM) will announce their third quarter results on November 4, 2021, post market close. A conference call will follow at 4:00 p.m. CT. The companies expect to discuss financial outcomes and other key performance metrics. Investors can access the live webcast and on-demand presentation via their respective investor relations websites. TDS serves approximately 6 million connections nationwide and has around 8,900 employees.
Telephone and Data Systems (TDS) has published its 2020 Environmental, Social, Governance (ESG) Report, marking its inaugural disclosure in this area. The report outlines TDS's commitment to ethical standards and highlights a materiality assessment conducted to identify stakeholder priorities. TDS's ESG strategy focuses on three core values: customers, culture, and communities. An ESG Steering Committee has been established to oversee the initiatives, and the report includes frameworks from the Sustainability Accounting Standards Board (SASB) and the Global Reporting Initiative (GRI).
Telephone and Data Systems (TDS) announced the promotion of Colleen Thompson to Vice President – Corporate Relations, effective September 27, 2021. This move aims to enhance TDS’s exposure to Wall Street, develop its Environmental, Social and Governance (ESG) Program, and strengthen strategic communications. Jane W. McCahon will assist in the transition until May 2022. Colleen, currently Director of Business Strategy at UScellular, brings valuable experience and qualifications, including her CPA certification and MBA from Northwestern University.
OneNeck IT Solutions has achieved Nutanix Champion Reseller status in the Nutanix Elevate Partner Program. This recognition is awarded to partners demonstrating high sales, technical, and service expertise. OneNeck's ReliaCloud, built on Nutanix's architecture, offers private cloud solutions with scalability and performance. The partnership aims to meet growing cloud service demands, providing customers with hybrid multi-cloud solutions. TDS, the parent company of OneNeck, has been recognized on multiple Forbes lists for employer diversity.
Telephone and Data Systems (TDS) announced the redemption of its 5.875% Senior Notes due 2061, totaling $195 million, effective October 14, 2021. The redemption will occur at 100% of the principal value alongside accrued interest. This strategic move follows a successful preferred offering, enabling TDS to save on interest while enhancing liquidity for its fiber expansion projects. The redemption notice will be sent to registered note holders, with queries directed to their brokerage firms.
The board of directors of Telephone and Data Systems has declared a third quarter 2021 dividend of $183.33 per share on its 6.000% Series VV Preferred Shares, payable on September 30, 2021, to holders of record on September 15, 2021. Holders of depositary shares will receive $0.18333 per depositary share. TDS provides a range of telecommunications services, serving approximately 6 million connections nationwide.
The board of directors of Telephone and Data Systems (NYSE: TDS) has declared dividends for Q3 2021. Common and Series A shareholders will receive a quarterly dividend of $0.175 per share. Additionally, holders of Series UU Preferred Shares will receive $414.0625 per share, with depositary share holders receiving $0.4140625. These dividends are payable on September 30, 2021, to stockholders of record as of September 15. TDS provides a range of telecommunications services nationwide.
On August 10, 2021, Telephone and Data Systems (TDS) priced an offering of 24 million depositary shares, each representing a 1/1,000th interest in its 6.000% Cumulative Redeemable Perpetual Preferred Stock, Series VV, at an aggregate price of $600 million. TDS plans to use the proceeds to redeem $116.3 million of senior notes and $125 million of borrowings under a revolving credit agreement, along with general corporate purposes, including funding capital expenditures for its fiber-to-the-home program. The offering is expected to close around August 16, 2021.
TDS reported Q2 2021 total operating revenues of $1,311 million, up from $1,263 million a year ago. However, net income fell to $20 million or $0.17 per share from $65 million or $0.56 per share in Q2 2020. The company expressed optimism regarding its 5G initiatives and fiber expansion, with broadband connections increasing and 1Gig speeds available to over half of service addresses. Full-year estimates remain unchanged for both UScellular and TDS Telecom.
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