公司概况 - 公司提供无线、宽带、视频和语音服务，服务约600万客户[14] - 公司正在探索战略替代方案,包括出售无线业务[22] - 公司正在部署5G技术,提升网络速度和容量,为移动和固定无线服务创造新机会[18] - 公司正在向光纤网络转型,主要投资于扩展市场和传统市场[20] - 公司寻求通过收购和/或剥离资产来扩大市场集群[21] 财务表现 - 公司总营收为12.38亿美元，同比下降2%[47] - UScellular营收为9.27亿美元，同比下降3%[47] - TDS Telecom营收为2.67亿美元，同比增长4%[47] - 总运营费用为11.99亿美元，同比下降3%[47] - UScellular运营利润为3600万美元，同比增长6%[49] - TDS Telecom运营利润为1900万美元，同比大幅增长[49] - 调整后EBITDA为3.57亿美元，同比增长17%[38][41] - 联营公司投资收益为3900万美元，同比增长3%[31] - 公司在2024年第二季度和上半年的净收入分别为5百万美元和42百万美元[159] - 公司在2024年第二季度和上半年的EBITDA(非GAAP)分别为236百万美元和503百万美元[159] - 公司在2024年第二季度和上半年的Adjusted EBITDA(非GAAP)分别为239百万美元和542百万美元[159] - 公司在2024年第二季度和上半年的Adjusted OIBDA(非GAAP)分别为198百万美元和456百万美元[159] - 公司在2024年第二季度和上半年的营业收入(GAAP)分别为34百万美元和88百万美元[159] 业务表现 - UScellular零售连接总数为446.6万户，其中后付费用户402.7万户[52] - UScellular资本支出为1.65亿美元，同比增长15%[50] - 总计后付费净增加(减少)为(24,000)，较去年同期下降14%[54] - 总后付费连接设备净增加为5,000，较去年同期大幅增加[56] - 后付费ARPU较去年同期增长2%，达到51.45美元[58] - 后付费ARPA较去年同期基本持平[59] - 服务收入较去年同期下降2%[60] - 设备销售收入较去年同期下降6%[60] - 总运营收入较去年同期下降3%[60] - 总运营费用较去年同期下降3%[62] - 调整后OIBDA较去年同期增长16%[63] - 资本支出较去年同期增长13%[64] - 塔类第三方收入较去年同期增长1%[78] - 塔类内部收入较去年同期增长4%[78] - 塔类总收入较去年同期增长3%[78] - TDS Telecom 服务地址增加10%至170万户[91] - TDS Telecom 1Gig+服务覆盖73%的总服务区域，较去年增加5个百分点[92] - 住宅宽带客户中79%选择100Mbps及以上的速率，19%选择1Gig+[101] - 住宅收入每连接增长5%，主要由于价格上涨[102] - 总运营收入增长4%，主要由于住宅收入增长[113] - 成本和费用下降1%，主要由于员工相关费用和维护成本下降[104][115] - 调整后OIBDA和EBITDA分别增长31%和32%[106] - 资本支出下降41%，主要由于减缓光纤部署[106] 未来展望 - TDS2024年全年资本支出预计在5.5亿美元至6.5亿美元之间,主要用于提升和维护UScellular的网络容量和覆盖,以及投资信息技术以支持现有和新的服务和产品[136] - TDS电信2024年全年资本支出预计在3.1亿美元至3.4亿美元之间,主要用于继续在扩展市场部署光纤,支持宽带增长和成功性支出,以及维护和提升现有基础设施[138] - TDS正在进行战略替代方案审查,以机会性地变现其不受证券购买协议约束的频谱资产[141] 风险因素 - TDS有大量债务,可能会对其财务表现产生不利影响,从而影响其偿还债务、遵守债务契约条款和增加债务的能力[182] - TDS已经签订了一项高级担保信贷协议,对其业务和运营施加了某些限制,可能会影响其经营业务和偿还债务的能力[183] - TDS的资产和收入主要集中在美国电信行业,因此其经营业绩可能会根据该行业的相关条件而波动[184] - TDS在一些它不控制的实体中有重大投资,这些投资价值的损失可能会对TDS的财务状况或经营业绩产生不利影响[185] - 如果TDS未能及时或完全遵守任何现有的适用立法和/或监管要求或其变更,可能会对TDS的业务、财务状况或经营业绩产生不利影响[186] - TDS获得了大量的监管支持,同时也需要向联邦、州和地方政府支付众多附加费和费用,这些支持和费用的适用性和金额存在不确定性,包括向客户转嫁某些费用的能力,这种不确定性可能会对TDS的业务、财务状况或经营业绩产生不利影响[187] - 由于待决和未来诉讼而产生的和解、判决、对其当前或未来经营方式的限制和/或法律费用,可能会对TDS的业务、财务状况或经营业绩产生不利影响[188] - 如果出现可能对设备或网络设备产生有害辐射的不利先例或结论,包括但不限于无线信号或网络电缆污染产生的无线电频率,可能会对TDS的无线和/或有线业务、财务状况或经营业绩产生不利影响[189] - 他人提出的知识产权和专有权

公司交易信息 - 公司于2024年7月16日与其他公司签订了一项证券购买协议，其中UScellular同意将其无线业务和部分频谱资产出售给T-Mobile，交易金额为44亿美元[12] 公司报告结构 - 公司将报告分为三个报告部分：UScellular Wireless、UScellular Towers和TDS Telecom，以提供相关财务信息[14] - 公司计划从2024年6月30日的季度报告开始根据新的部门结构报告财务业绩[16]

CHICAGO, Aug. 2, 2024 /PRNewswire/ --As previously announced, TDS will hold a teleconference on August 2, 2024, at 9:00 a.m. CDT. Listen to the call live via the Events & Presentations page of investors.tdsinc.com.Telephone and Data Systems, Inc. (NYSE:TDS) reported total operating revenues of $1,238 million for the second quarter of 2024, versus $1,267 million for the same period one year ago. Net income (loss) attributable to TDS common shareholders and related diluted earnings (loss) per share were $(14) ...

文章核心观点 - 电话和数据系统公司(TDS)正在出售其子公司US Cellular的无线业务和30%的频谱给T-Mobile [10][11] - 这笔交易预计将于2025年中期完成,但需要监管部门的批准 [10] - 一些参议员对这笔交易表示担忧,认为会进一步减少市场竞争,提高消费者价格 [11] - 但TDS认为,由于US Cellular主要在农村地区运营,因此交易可能会得到批准,并带来显著的上行潜力 [16] 根据相关目录分别进行总结 2024年预测业绩 - 美国电信公司(UScellular)预计2024年服务收入为29.5-30.5亿美元,调整后OIBDA为7.5-8.5亿美元,调整后EBITDA为9.2-10.2亿美元,资本支出为5.5-6.5亿美元 [6] - TDS电信预计2024年总营业收入为10.7-11亿美元,调整后OIBDA和EBITDA为3.1-3.4亿美元,资本支出为3.1-3.4亿美元 [6] 交易价值分析 - 如果交易顺利完成,即使需要做出一些让步,TDS股东也将获得显著的上行潜力 [17][18][19] - 根据分析,US Cellular的总价值约为80亿美元,TDS持有83%的股权,相当于4.5亿美元的价值,较目前市值增长超过80% [17][18][19] - 如果交易被完全阻止,TDS的价值目标为17.3美元,较当前下跌18% [21] 交易风险分析 - 近期类似的并购交易都面临着监管挑战,但T-Mobile在并购Sprint时已经有了相关经验 [12][15] - 美国电信监管部门可能会考虑US Cellular在农村地区的网络优势,从而批准这笔交易 [16]

CHICAGO, July 26, 2024 /PRNewswire/ -- Telephone and Data Systems, Inc. (NYSE: TDS) and United States Cellular Corporation (NYSE: USM) will be webcasting their second quarter operating results conference call on August 2, 2024, at 9:00 a.m. Central Time.The companies will release their financial results on August 2, 2024, before the market opens. To listen to the webcast, please visit the events & presentations pages of investors.tdsinc.com or investors.uscellular.com. The presentations will be webcast both ...

Neils ChristensenNeils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada. He has worked exclusively within the financial sector since 2007, when he started with the Canadian Economic Press. Neils can be contacted at: 1 866 925 4826 ext. 1526 nchristensen at kitco.com @Neils_cShareDisclaimer: The views expressed ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades.Even ...

AnuchaCheechang/iStock via Getty Images About a year ago, I rated the preferred stock of Telephone and Data Systems (NYSE:TDS.PR.V) as a “hold”, as it was offering a 13.0% yield but it also had some risks. Since my article, the preferred stock has offered a massive total return of 70% and thus it has outperformed the S&P 500 (+27%) by an impressive margin. Due to the steep rally of the stock, its yield has decreased from 13.0% to 8.3%. The current yield may seem unattractive compared to the previous yie ...

MADISON, Wis., June 27, 2024 /PRNewswire/ -- TDS Telecommunications LLC (TDS Telecom) is gearing up to launch a mobile phone product. The Madison, Wisconsin-based company has come to terms with Reach, a leading software-as-a-service platform for launching network-based services with speed and simplicity. TDS Mobile will be covered by a national 5G mobile network as the company enters the Mobile Virtual Network Operator (MVNO) market through the established National Content & Technology Cooperative (NCTC) pa ...

CHICAGO, June 3, 2024 /PRNewswire/ -- Telephone and Data Systems, Inc. (NYSE: TDS), today announced the entry into a definitive agreement to sell its wholly owned subsidiaries OneNeck IT Solutions LLC and OneNeck Data Center Holdings LLC (together, "OneNeck") to US Signal Company, LLC. The transaction is subject to the satisfaction of customary closing conditions and is expected to close in the third quarter of 2024. No terms were disclosed. US Signal is acquiring all of the OneNeck operations, including it ...