United States Stock Price, News & Analysis

UScellular (NYSE: USM) has appointed Sheila Crisostomo as the new vice president of retail sales and operations, effective June 1, 2022. Crisostomo brings over 26 years of experience in telecommunications, previously serving as vice president and general manager at AT&T. In her new role, she will focus on enhancing growth and performance across retail and prepaid sales channels. UScellular's president and CEO, Laurent 'LT' Therivel, expressed confidence in her ability to improve customer experience.

Telephone and Data Systems, Inc. (TDS) and United States Cellular Corporation (USM) will hold their Annual Meetings of Shareholders on the following dates:

• UScellular: May 17, 2022, at 8:30 a.m. Central time
• TDS: May 19, 2022, at 9:00 a.m. Central time

Both meetings will be available via live and on-demand webcasts. Attendees should register at least 15 minutes prior to the meetings. TDS provides various services through its businesses, including UScellular, and had approximately 6 million connections as of March 31, 2022, employing around 8,800 associates.

UScellular reported Q1 2022 revenues of $1,010 million, slightly down from $1,023 million year-over-year. Service revenues increased to $787 million from $771 million. Net income dropped to $49 million ($0.57 per share) compared to $60 million ($0.69 per share) in Q1 2021. The company maintains its 2022 revenue guidance of $3,100-$3,200 million, with Adjusted EBITDA projected at $925-$1,075 million. UScellular also bought back 363,821 shares for $10 million in Q1.

Telephone and Data Systems (TDS) and United States Cellular Corporation (USM) will release their first quarter operating results on May 5, 2022, after market close. A conference call to discuss these results is scheduled for May 6, 2022, at 9:00 a.m. central time. Investors can access the live and on-demand webcast through the TDS investor relations site or the UScellular investor relations site. The companies serve approximately 6 million connections across the U.S.

United States Cellular Corporation (NYSE:USM) announced the nomination of Esteban C. Iriarte and Vicki L. Villacrez to its Board of Directors for election on May 17, 2022. Iriarte, currently COO at Millicom, brings extensive experience in wireless operations, while Villacrez, set to become CFO at TDS, has over thirty years in the telecommunications sector. This board refresh aims to enhance governance and strategic oversight, succeeding Ronald E. Daly and Peter L. Sereda, both of whom served significant terms.

Telephone and Data Systems (TDS) and United States Cellular Corporation (UScellular) will participate in three investor conferences in March 2022. The events include the Morgan Stanley Technology, Media & Telecom Conference on March 7, where TDS President LeRoy T. Carlson, Jr. will speak. Additionally, they will attend the Raymond James 43rd Annual Institutional Investors Conference, also on March 7, featuring TDS Telecom President James W. Butman. Finally, TDS will be at the Deutsche Bank Media, Internet & Telecom Conference on March 14, with Vicki L. Villacrez among the speakers.

On February 17, 2022, UScellular reported its Q4 2021 results, revealing total operating revenues of $1,068 million, slightly down from $1,073 million a year ago. The company posted a net income of $27 million for Q4 2021, compared to $5 million in Q4 2020. For the full year 2021, total revenues reached $4,122 million, with a net income of $155 million, a decline from $229 million in 2020. UScellular anticipates 2022 service revenues between $3,100-$3,200 million. The company is focusing on its 5G growth strategy and maintaining cost discipline.

Telephone and Data Systems (TDS) and United States Cellular Corporation (USM) will host a conference call on Feb 18, 2022, at 9:00 a.m. CT to discuss their fourth quarter operating results. Financial results will be released after market close on February 17, 2022. Interested participants can access the webcast via the companies' investor relations websites. TDS, which serves approximately 6 million connections nationwide through its subsidiaries, employs around 8,900 associates.

On February 1, 2022, United States Cellular (NYSE: USM) announced its successful acquisition of mid-band spectrum to bolster its 5G strategy. Through Auctions 105, 107, and 110, UScellular obtained 380 spectrum licenses covering 97% of its subscribers for approximately $580 million, achieving an average cost of $0.48 per MHz-pop, significantly lower than the auction average of $0.72. This step enhances the company’s capacity to provide competitive 5G services across its operating footprint, targeting improved network quality and coverage, especially in underserved areas.