Telephone and Data : Guidance for Year Ending Mar. 30, 2023 (as of Aug. 4, 2023)
August 04, 2023 at 12:53 pm
Share
2023 Estimated Results
TDS' current estimates of full-year 2023 results for UScellular and TDS Telecom are shown below. Such estimates represent management's view as of August 4, 2023 and should not be assumed to be current as of any future date. TDS undertakes no duty to update such estimates, whether as a result of new information, future events, or otherwise. There can be no assurance that final results will not differ materially from estimated results.
The 2023 Estimated Results shown below do not reflect any anticipated costs, expenses or results of the strategic review referenced above.
2023 Estimated Results
UScellular
Previous
Current
(Dollars in millions)
Service revenues
$3,050-$3,150
$3,025-$3,075
Adjusted OIBDA1
$725-$875
$750-$850
Adjusted EBITDA1
$875-$1,025
$925-$1,025
Capital expenditures
$600-$700
Unchanged
TDS Telecom
Previous
Current
(Dollars in millions)
Total operating revenues
$1,030-$1,060
Unchanged
Adjusted OIBDA1
$260-$290
$270-$300
Adjusted EBITDA1
$260-$290
$270-$300
Capital expenditures
$500-$550
$475-$525
The following tables reconcile EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measures, Net income or Income before income taxes. In providing 2023 estimated results, TDS has not completed the below reconciliation to Net income because it does not provide guidance for income taxes. Although potentially significant, TDS believes that the impact of income taxes cannot be reasonably predicted; therefore, TDS is unable to provide such guidance.
2023 Estimated Results
UScellular
TDS Telecom
(Dollars in millions)
Net income (GAAP)
N/A
N/A
Add back:
Income tax expense
N/A
N/A
Income before income taxes (GAAP)
$50-$150
$40-$70
Add back:
Interest expense
200
-
Depreciation, amortization and accretion expense
655
230
EBITDA (Non-GAAP)1
$905-$1,005
$270-$300
Add back or deduct:
(Gain) loss on asset disposals, net
20
-
Adjusted EBITDA (Non-GAAP)1
$925-$1,025
$270-$300
Deduct:
Equity in earnings of unconsolidated entities
160
-
Interest and dividend income
15
-
Adjusted OIBDA (Non-GAAP)1
$750-$850
$270-$300
Numbers may not foot due to rounding.
1 EBITDA, Adjusted EBITDA and Adjusted OIBDA are defined as net income adjusted for the items set forth in the reconciliation above. EBITDA, Adjusted EBITDA and Adjusted OIBDA are not measures of financial performance under Generally Accepted Accounting Principles in the United States (GAAP) and should not be considered as alternatives to Net income or Cash flows from operating activities, as indicators of cash flows or as measures of liquidity. TDS does not intend to imply that any such items set forth in the reconciliation above are non-recurring, infrequent or unusual; such items may occur in the future. Management uses Adjusted EBITDA and Adjusted OIBDA as measurements of profitability, and
therefore reconciliations to Net income are deemed appropriate. Management believes Adjusted EBITDA and Adjusted OIBDA are useful measures of TDS' operating results before significant recurring non-cash charges, gains and losses, and other items as presented above as they provide additional relevant and useful information to investors and other users of TDS' financial data in evaluating the effectiveness of its operations and underlying business trends in a manner that is consistent with management's evaluation of business performance. Adjusted EBITDA shows adjusted earnings before interest, taxes, depreciation, amortization and accretion, and gains and losses, while Adjusted OIBDA reduces this measure further to exclude Equity in earnings of unconsolidated entities and Interest and dividend income in order to more effectively show the performance of operating activities excluding investment activities. The table above reconciles EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measure, Net income or Income before income taxes. Additional information and reconciliations related to Non-GAAP financial measures for June 30, 2023, can be found on TDS' website at investors.tdsinc.com.
Attachments
Original Link
Original Document
Permalink
Disclaimer
TDS - Telephone and Data Systems Inc. published this content on 04 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 August 2023 11:52:10 UTC.
Telephone and Data Systems, Inc. is a diversified telecommunications company. It provides wireless, cable and wireline broadband, video, and voice, and hosted and managed services through its businesses, UScellular, TDS Telecom and OneNeck IT Solutions. Its segments include UScellular and TDS Telecom. TDS segment provides wireless telecommunications services. UScellular segment offers a range of devices, such as smartphones and other handsets, tablets, wearables, mobile hotspots, routers, and Internet of things devices. UScellular also offers a range of accessories, including wireless essentials such as cases, screen protectors, chargers, memory cards and consumer electronics such as audio, home automation and networking products. TDS Telecom owns, operates and invests in quality networks, services and products in a mix of small to mid-sized urban, suburban and rural communities throughout the United States. TDS Telecom provides a range of broadband, video, and voice communications.