Telephone and Data reports Q3 non-GAAP EPS 1c, consensus (14c)

Reports Q3 revenue $1.22B, consensus $1.24B. “We continue to strategically optimize our portfolio in order to focus our resources appropriately throughout the enterprise,” said CEO LeRoy Carlson, Jr. “In Q3, TDS completed the sale of its OneNeck operations. In addition, TDS Telecom has entered into agreements to sell certain ILEC and cable properties. In October, as part of its ongoing process to opportunistically monetize its remaining spectrum, UScellular announced that it had entered into agreements to monetize select spectrum assets for $1B. UScellular’s Q3 results show that the company is continuing to balance subscriber growth with financial discipline. And while it had postpaid handset net losses in the quarter, the company saw a notable year-over-year improvement in its subscriber trajectory. TDS Telecom is implementing its ongoing fiber expansion strategy and it reached a milestone of 50% of its service addresses passed with fiber.”