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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.
On March 17, 2023, OneNeck IT Solutions announced the appointment of Theodore (Ted) Wiessing as the new President and CEO, succeeding Terry Swanson, who stepped down after six years. Wiessing, formerly the Chief Operating Officer, has been integral to OneNeck since 2018 and has extensive experience in technology and security. He aims to continue enhancing the company's multi-cloud strategy while maintaining a strong culture. OneNeck, a subsidiary of TDS, employs 450 people and provides multi-cloud solutions and managed services across the U.S.
On March 2, 2023, OneNeck IT Solutions was named to CRN's 2023 Managed Service Provider Elite 150 list, recognizing its leadership in the managed services industry. This honor highlights OneNeck's commitment to delivering innovative, world-class managed services that enhance customer efficiency and drive growth. Featuring a broad portfolio aimed at midmarket and enterprise customers, OneNeck ensures effective IT solutions to meet evolving business demands. The full list is accessible on CRN's website, showcasing top providers in North America who excel in service and strong partnerships with tech suppliers.
Telephone and Data Systems (TDS) and United States Cellular Corporation (USM) will participate in three upcoming investor conferences in March 2023. The first is the Morgan Stanley Technology, Media & Telecom Conference on March 8, 2023, at 4:30 PM ET. The second is the Raymond James 44th Annual Institutional Investors Conference on the same day at 7:30 AM ET. Finally, TDS will attend the New Street Second Annual Fiber to the Future Conference on March 28, 2023, at 2:55 PM ET. Presentations will be available via webcast. For more information, visit investors.tdsinc.com and investors.uscellular.com.
Telephone and Data Systems (TDS) and United States Cellular (UScellular) announced their participation in three upcoming investor conferences. On March 8, 2023, TDS executives will present at the Morgan Stanley Technology, Media & Telecom Conference at 4:30 PM ET and at the Raymond James 44th Annual Institutional Investors Conference at 7:30 AM ET. Additionally, TDS will participate in the New Street Second Annual Fiber to the Future Conference on March 28, 2023, at 2:55 PM ET. All presentations will be available via webcast. TDS, a Fortune 1000 company, provides services to approximately 6 million connections nationwide.
Telephone and Data Systems (TDS) has declared a quarterly dividend of $0.185 per Common Share and Series A Common Share for Q1 2023. This marks the 49th consecutive year of dividend increases. Additionally, dividends for preferred shares include $414.0625 for Series UU and $375.0000 for Series VV. These dividends will be payable on March 31, 2023, to shareholders on record as of March 15, 2023. TDS provides essential telecommunications services to approximately 6 million connections nationwide and employs about 9,300 people.
UScellular reported fourth-quarter 2022 total operating revenues of $1,048 million, a slight decline compared to $1,068 million in Q4 2021. The company experienced a net loss of $28 million or ($0.33 per share) compared to a profit of $27 million or $0.31 per share a year earlier. For the full year, total revenues were $4,169 million, up from $4,122 million in 2021, but net income dropped to $30 million from $155 million. UScellular aims for significant growth in 2023 with estimated service revenues of $3,050-$3,150 million and a focus on enhancing 5G capabilities. The company will hold a conference call on February 17, 2023.
Telephone and Data Systems, TDS, reported Q4 2022 revenues of $1,357 million, down from $1,372 million year-over-year. The company experienced a net loss of $(43) million or $(0.38 per share, compared to $14 million and $0.11 per share in Q4 2021. For the entire year of 2022, total operating revenues reached $5,413 million, a slight increase from $5,329 million in 2021, but net income fell to $(7) million from $117 million. TDS Telecom added 133,000 new marketable fiber addresses in 2022 and aims to reach 1.2 million by 2026. Estimated full-year 2023 results project service revenues for UScellular between $3,050-$3,150 million.
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