Positive Financial Performance
Both UScellular and TDS Telecom reported strong financial performance with increased profitability outlook for adjusted EBITDA and adjusted OIBDA.
Successful Spectrum Monetization
UScellular entered into agreements to sell portions of their spectrum for over $1 billion, showcasing the demand and value of their licenses.
Fiber Expansion Success
TDS Telecom achieved significant milestones with 50% of service addresses now served by fiber, contributing to a 2% increase in operating revenue and 21% increase in adjusted EBITDA.
Improved Subscriber Metrics
UScellular improved retail net losses by 20,000 subscribers year-over-year, with a focus on rewarding existing customers and maintaining strong profitability.
Capital Expenditure Reduction
UScellular lowered capital expenditure guidance, reflecting successful cost management and efficient resource allocation.
Net Debt Reduction
UScellular repaid $163 million of debt in the first 9 months of 2024, further improving leverage ratios.