Q2 2024 Telephone and Data Systems Inc And United States Cellular Corp Earnings Call Transcript

Aug 02, 2024 / 02:00PM GMT

Release Date Price: $19.39 (-1.02%)

Transcript 10-Q/A10-Q8-K

Key Points

Positve

Both business units delivered double-digit year-over-year improvements in adjusted EBITDA.
Improved profitability drove increased free cash flow year-over-year and sequentially.
U.S. Cellular paid down approximately $140 million in debt in the quarter.
TDS Telecom is maintaining its focus on free cash flow by pacing capital expenditures commensurate with EBITDA generation.
The company ended the quarter in a good cash and liquidity position.

Negative

Service revenue declined 2% due to a decrease in the average subscriber base.
The competitive environment remains intense with aggressive carrier promotions and cable wireless competition.
Video cord-cutting continues to impact revenue, with lower-than-planned video attachment rates.
The ramp-up of broadband net adds has been slower than expected.
The company is experiencing increased competitive pressures in its ILEC and cable markets.

Editor

Please stand by for streaming text.

Operator

I would like to welcome everyone to the TDS and U.S. Cellular second quarter 2004 operating results conference call. (Operator Instructions)

Thank you. I would now like to turn the call over to Colin Thompson, Vice President, Corporate Relations. Please go ahead.

Colleen Thompson

Telephone and Data Systems, Inc. - Vice President, Corporate Relations

Good morning and thank you for joining us. We want to make you aware of the presentation. We have prepared to accompany our comments this morning, which you can find on the Investor Relations sections of the TDS and U.S. Cellular websites.

With me today and offering prepared comments are from TDS, Vicki Villacrez, Executive Vice President and Chief Financial Officer from US Cellular LT, terrible President and Chief Executive Officer, Doug Chambers, Executive Vice President, Chief Financial Officer and Treasurer, and from TDS Telecom, Michelle broke Wiki, Senior Vice President of Finance and Chief Financial Officer.

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