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US Cellular Corporation (NYSE: USM) is a leading regional wireless provider delivering connectivity solutions across rural and secondary U.S. markets. This page aggregates official company announcements, financial updates, and strategic developments for investors and industry observers.
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United States Cellular Corporation (NYSE: USM) announced the appointments of Douglas W. Chambers and James W. Butman to its Board of Directors, effective January 1, 2023. Chambers, currently CFO of UScellular, has over 25 years of financial experience. Butman has been President and CEO of TDS Telecom since 2018. Their addition brings the insider to external directors' ratio to 7-to-6, aligning with TDS' controlling interest in UScellular. The Board aims to leverage their expertise for long-term success.
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.
UScellular (NYSE: USM) announced the promotion of Kevin Lowell to executive vice president and chief people officer, effective Jan. 1, 2023. He replaces Deirdre Drake, who is retiring after 33 years in HR. Lowell, with UScellular since 2003, previously served as senior vice president of information technology. The company also announced leadership changes, with Robert Jakubek promoted to senior vice president of IT, Mike Dienhart as vice president of engineering, and Renae Grob becoming vice president of supply chain.
UScellular reported Q3 2022 total operating revenues of $1,083 million, an increase from $1,016 million year-over-year. However, service revenues fell to $781 million from $788 million year-over-year. The company posted a net loss of $12 million or $(0.15) per share, compared to a profit of $34 million or $0.38 per share in Q3 2021. UScellular anticipates full-year 2022 service revenues between $3,100-$3,150 million and adjusted EBITDA of $925-$1,000 million. 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.
United States Cellular Corporation (NYSE:USM) announced the appointment of Xavier D. Williams to its Board of Directors, effective January 1, 2023. Williams, who takes over from J. Samuel Crowley after 24 years of service, brings over 30 years of telecommunications experience. Currently the CEO of Network Wireless Solutions, he has held significant roles at AT&T, including leadership of a nationwide wireless broadband network. The board expressed excitement about Williams' diverse background and anticipated his valuable contributions to the company.
UScellular (NYSE: USM) has appointed Rebecca Murphy Thompson as the new vice president of government affairs as of August 29, 2022. With over 20 years of experience, she will lead the company’s federal regulatory efforts. Her prior roles include executive vice president at the Competitive Carriers Association and head of North America policy communications for Twilio. UScellular aims to leverage her expertise to enhance connectivity for underserved populations, aligning with its strategic goals.
UScellular reported total operating revenues of $1,027 million for Q2 2022, a slight increase from $1,014 million in Q2 2021. Service revenues rose to $783 million, up from $774 million year-over-year. However, net income fell to $21 million or $0.25 per share compared to $35 million or $0.39 in the same quarter last year. The company reaffirmed its 2022 guidance, estimating full-year service revenues between $3,100 million and $3,200 million and adjusted EBITDA between $925 million and $1,075 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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