Fri, Jul. 31, 10:17 AM
- Telephone & Data Systems (NYSE:TDS) is up 4.2% after strong profits at U.S. Cellular drove its own EPS beat, and revenues grew more than 3% from the prior year.
- A swing to profit at U.S. Cellular (NYSE:USM), of which TDS owns 84%, paced a swing at TDS to $23M profit from a year-ago loss of $22.1M.
- Along with postpaid customer growth at USM, TDS Telecom grew IPTV customers, to 27.9K from Q1's 25.6K and a year-ago 18.2K. Residential voice connections declined Y/Y to 329K from 346.1K, and residential broadband connections declined Y/Y as well, to 231.2K from 232.7K.
- Overall, residential wireline connections were down about 1.5%, to 588,100. Residential revenue per connection was $42.10, up from last year's $41.05. Commercial wireline connections were down about 4%, to 350.6K.
- With U.S. Cellular raising guidance for the second straight quarter, TDS has boosted its own targets. It sees a narrower range of full-year revenues of $5.145B-$5.295B, and EBITDA of $890M-$1.02B, up from $870M-$1B. Guidance for the TDS Telecom business is unchanged (full-year revenues of $1.13B-$1.18B, and EBITDA of $280M-$310M).
- Press Release
Fri, Jul. 31, 9:59 AM
- U.S. Cellular (NYSE:USM) has charged higher, up 6.3% after EPS beat expectations and the company boosted its outlook for earnings and cash flow for the full year.
- Revenues missed slightly at $975.7M despite 2% growth. EBITDA of $163.4M beat an expected $156M, and net income swung overall to $19.4M from a year-ago loss of $18.8M.
- Revenue breakout: Service, $824.4M (down 2%); Equipment Sales, $151.3M (up 32%).
- The company added 17K net postpaid subscribers, and net 8K prepaid. Smartphones sold as a percent of total handsets rose to 86.7%.
- "We are focused on continuing to grow our customer base and increasing revenue and operating cash flow in 2015 by offering innovative services and exciting devices that run on our high-quality network," said CEO Kenneth Meyers. "Our 4G LTE network will cover 98 percent of customers by the end of the year."
- For the full year, the company narrowed revenue expectations (to $4B-$4.1B, in line) but raised expected operating cash flow to $440M-$540M, from $400M-$500M, and boosted guidance for EBITDA to $600M-$700M (higher than a consensus $600M) from its previous $580M-$680M.
- Press Release
Fri, May 1, 1:10 PM
- Telephone & Data Systems (NYSE:TDS) is up 8.2%, making a new 52-week high, after posting Q1 results that beat EPS expectations, though revenue fell short of consensus.
- EPS of $1.33 (from net income of $145.7M), when adjusted, came to break-even vs. expectations of a loss of $0.01. Results were driven by those at U.S. Cellular (NYSE:USM), of which TDS owns 84%.
- Aside from U.S. Cellular's 9K net postpaid customer adds, at the TDS Telecom wireline business, residential connections slipped to 588.4K from a year-ago 593.6K, but residential revenue per connection was up to $42.32 from the prior year's $40.79.
- Commercial wireline connections were 355K, down from 369.8K last year.
- Cable connections grew to 271K from last year's 149.4K.
- Along with U.S. Cellular's raised guidance, TDS raised guidance for 2015 EBITDA to $870M-$1B, from $820M-$950M (vs. an expected $816M), and for operating cash flow to $685M-$815M from $635M-$765M.
- Press release
Fri, May 1, 12:46 PM
- U.S. Cellular (NYSE:USM) is up 4.1% today in the wake of a Q1 report where it grew revenues more than 4% and beat EPS expectations.
- Net income of $160.1M was up from a prior-year $19.4M, boosted by gains on divesting businesses ($111.5M) and on license sales ($122.9M). EPS of $1.89, when adjusted, came to $0.24 vs. an expected $0.02.
- Net postpaid customer adds were 9K; churn rate was 1.5%, down from Q4's 1.6% and the prior year's 2.3%. ARPU was down to $54.87 from Q4's $56.51, and ARPA was down to $134.94 from Q4's $136.13, but up from a year-ago $132.03.
- It says its 4G LTE network will cover 98% of customers by year's end.
- The company raised full-year guidance on adjusted EBITDA to $580M-$680M from a previous $530M-$630M, vs. consensus expectations of $552M, and guided to higher operating cash flow of $400M-$500M from a previous $350M-$450M.
- Press release
Wed, Feb. 25, 10:10 AM
- U.S. Cellular (NYSE:USM) is 4.2% higher after posting a narrower loss than expected. Total operating expenses grew 13% against revenue's 12% increase, largely due to a loss on sale of license sales and exchanges. Operating loss was $49.6M.
- The company ended 2014 with 4.3M postpaid customers after net adds of 98K, its second straight quarter of net postpaid adds. Prepaid total was 348K customers after a net loss of 2K.
- ARPU was $56.51 for postpaid customers, $35.33 for prepaid. Churn declined Y/Y: for postpaid customers, to 1.6% from 1.9%, and for prepaid, to 5.9% from 8.3%.
- Capex of $181.7M was up sequentially but down from prior year's $208.1M.
- The company guided to full-year 2015 revenues of $4B-$4.2B, in line with expectations, and adjusted EBITDA of $530M-630M, higher than an expected $473M.
- Press release
Aug. 5, 2014, 12:47 PM
Aug. 4, 2014, 5:35 PM
Mar. 3, 2014, 9:32 AM
- Autodesk (ADSK -2.7%) has been cut to Sell by Citi. Shares initially rose last week in response to the CAD software giant's FQ4 revenue beat and strong top-line guidance, but later sold off.
- Intuit (INTU +0.3%) has been upgraded to Buy by Citi.
- RF Micro (RFMD +0.7%) has been upgraded to Buy by BofA/Merrill.
- Infosys (INFY -2%) has been cut to Neutral by Baird.
- Intelsat (I -3.5%) has been cut to Neutral by JPMorgan.
- Procera (PKT -1.2%) has been cut to Buy from Strong Buy by Needham in the wake of last Thursday's Q4 miss.
- TDS (TDS +3.8%) and U.S. Cellular (USM +3.3%) have been upgraded to Overweight by JPMorgan.
Oct. 18, 2013, 9:34 AM
- AMD (AMD -12.7%) has been cut to Neutral by BofA/Merrill after beating Q3 estimates and providing above-consensus Q4 revenue guidance, but also reporting a 15% Y/Y drop in CPU division sales due to PC weakness.
- Verizon (VZ +0.8%) has been upgraded to Buy by Stifel a day after beating Q3 estimates and reporting better-than-expected mobile subscriber adds.
- Amazon (AMZN +2.4%) has been upgraded to Buy by UBS ahead of its Oct. 24 Q3 report.
- VMware (VMW +2.8%) has been upgraded to Overweight by JPMorgan ahead of Monday's Q3 report.
- T-Mobile USA (TMUS +2.7%) has been added to Goldman's Conviction Buy list ahead of its Nov. 5 Q3 report.
- Intuit (INTU +2.6%) has been upgraded to Buy by BofA/Merrill.
- Align Technology (ALGN +24.4%) has been upgraded to Buy by Cantor following its Q3 beat.
- LG Display (LPL -0.2%) has been cut to Hold by Craig-Hallum after issuing a Q4 warning.
- Ultratech (UTEK -10.2%) has been cut to Hold by Canaccord following its Q3 miss.
- Sierra Wireless (SWIR -1%) has been cut to Market Perform by Raymond James; Q3 results arrive on Nov. 7.
- Aspen Technology (AZPN -0.9%) has been cut to Neutral by JPMorgan.
- Analog chipmakers International Rectifier (IRF -1.7%) and Monolithic Power (MPWR -1.3%) have been cut to Market Perform by Wells Fargo.
- U.S. Cellular (USM -1.2%) has been started at Underperform by FBR.
Jun. 7, 2013, 12:45 PM
May 17, 2013, 11:33 AM
Mar. 21, 2012, 1:19 PMDish Network (DISH +2.4%) rises after the FCC unveils a rulemaking proposal that should pave the way for 4G services to be allowed on the company's 2GHz. spectrum, in spite of a recent waiver denial. The FCC is also proposing interoperability rules be established for spectrum blocks in the 700 MHz. band - a positive for smaller carriers such as LEAP, PCS, and USM, who have complained a lack of rules could prevent them from obtaining compatible devices. (also) | Comment!
Aug. 8, 2011, 10:21 AMRegional carrier U.S. Cellular (USM -4.9%) is following the market lower after reporting Q2 results. Service revenue grew 3% Y/Y, average revenue per user increased 2.6% Q/Q, and churn declined slightly to 1.38%. However, the company had a net loss of 58K retail subscribers, including 41K postpaid subscribers. (PR) | Comment!
May 3, 2011, 11:58 AMA number of mobile phone firms are moving today, in sympathy with MetroPCS (PCS +8.3%) after it added record customers in Q1. MetroPCS said in a call it hoped an AT&T (T)/T-Mobile (DTEGY.PK) tie-up would free up divested spectrum to smaller companies that need it for growth. T +1.6%; VZ +0.9%; DTEGY.PK +0.7%; USM +0.6%. | Comment!
USM vs. ETF Alternatives
United States Cellular Corp is a wireless telecommunications service provider. Its ownership interests include consolidated and investment interests in licenses covering portions of 30 states & total population of 50.9 million.
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