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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.
Telephone and Data Systems (TDS) and United States Cellular (UScellular) will present at Citi's 2023 Communications, Media & Entertainment Conference on January 5, 2023, at 8:45 a.m. Mountain Time. Key executives participating include TDS Telecom President and CEO James W. Butman, UScellular CFO Douglas W. Chambers, and TDS VP of Corporate Relations Colleen Thompson. The presentation will be available via live and on-demand webcast. Attendees are encouraged to register early to access the presentation smoothly.
Telephone and Data Systems (TDS) announced the promotion of Ilan Pragaspathy to Vice President of Financial Analysis and Strategic Planning on December 7, 2022. Pragaspathy, who joined TDS in 2018, has a strong background in corporate strategy and finance. His new role will focus on enterprise long-range strategic planning, budgeting, forecasting, and business performance analysis. TDS, a Fortune 1000 company, provides various telecom services nationwide, employing around 9,200 associates as of September 30, 2022.
Telephone and Data Systems (TDS) and United States Cellular (UScellular) will jointly present at the Raymond James 2022 Technology Investors Conference in New York on December 7, 2022, at 10:20 a.m. ET. Key executives attending include UScellular President and CEO LT Therivel, TDS Telecom CFO Michelle Brukwicki, and TDS Corporate Relations VP Colleen Thompson. The presentation will be available live and on-demand. TDS provides services to around 6 million connections nationwide, while UScellular has 4.8 million retail connections in 21 states.
The board of Telephone and Data Systems (TDS) has declared dividends for Q4 2022. A quarterly dividend of $0.18 per Common Share and Series A Common Share will be paid on December 30, 2022, to holders of record as of December 15, 2022. Preferred dividends include $414.0625 for Series UU shares and $375.0000 for Series VV shares, both payable on December 31, 2022. TDS serves approximately 6 million connections through its subsidiaries, employing about 9,200 associates.
TDS reported total operating revenues of $1,392 million for Q3 2022, up from $1,328 million a year earlier. However, the company faced a net loss of $25 million or $(0.22) per share, compared to a profit of $28 million or $(0.24) in the same period last year. Investments in growth initiatives impacted profitability. UScellular's ARPU growth remained strong despite challenges in postpaid subscriber growth. TDS Telecom is expanding its fiber footprint, targeting 1.2 million fiber service addresses by 2026. A conference call is scheduled for November 4, 2022.
Telephone and Data Systems (TDS) and United States Cellular Corporation (USM) will release their third quarter financial results on November 3, 2022, after market close. A conference call to discuss these results will take place on November 4, 2022, at 9:00 a.m. CT. Investors can access the webcast through the companies' investor relations websites. TDS provides various telecommunications services to around 6 million customers through its subsidiaries, employing approximately 8,900 associates as of June 30, 2022.
Telephone and Data Systems (TDS) has released its 2021 Environmental, Social, Governance (ESG) Report, emphasizing its commitment to corporate responsibility. The report outlines key priorities including Access and Affordability, Data Security, Diversity, Equity & Inclusion, and Community Relations. TDS engaged a third party for stakeholder assessment to shape its ESG strategy. Additionally, a designated Steering Committee will oversee ESG initiatives. The report incorporates the Sustainability Accounting Standards Board framework and aligns with Global Reporting Initiative standards.
Telephone and Data Systems has declared its third quarter 2022 dividends, highlighting financial commitment to shareholders. The dividends are scheduled for payment on September 30, 2022, to shareholders of record by September 15, 2022. Key dividends include $0.18 per Common and Series A Common Share, $414.0625 per Series UU Preferred Share, and $375.0000 per Series VV Preferred Share. TDS aims to maintain strong shareholder returns as it caters to approximately 6 million connections nationwide.
TDS reported Q2 2022 total operating revenues of $1,349 million, up from $1,311 million YoY. However, net income decreased to $18 million ($0.15 EPS) from $20 million ($0.17 EPS) in the previous year. UScellular experienced growth in service revenue driven by higher ARPU, while TDS Telecom focused on expanded fiber deployment. Full-year 2022 estimates for UScellular remain unchanged at $3,100-$3,200 million for service revenues. During Q2, TDS repurchased 966,124 shares for $16 million.
Telephone and Data Systems (TDS) and United States Cellular Corporation (USM) will host a conference call to discuss their second quarter operating results on August 5, 2022, at 9:00 a.m. CT. Financial results will be released on August 4, 2022, after market close. Investors can access the live and on-demand webcast via their investor relations websites, with registration recommended at least 15 minutes prior. TDS, a Fortune 1000 company, serves about 6 million connections through UScellular, TDS Telecom, and OneNeck IT Solutions, employing approximately 8,800 associates as of March 31, 2022.
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