UScellular Reports First Quarter 2024 Results
UScellular Reports First Quarter 2024 Results
2024 guidance reaffirmed
2024年指引再次确认
CHICAGO, May 3, 2024 /PRNewswire/ --
芝加哥，2024年5月3日 /美通社/ --
As previously announced, UScellular will hold a teleconference on May 3, 2024, at 9:00 a.m. CDT. Listen to the call live via the Events & Presentations page of investors.uscellular.com.
正如之前宣布的那样，美国无线电话公司将于2024年5月3日上午9:00（美国中部时间）举行电话会议。通过投资者网站上的“事件和演示文稿”页面即可收听现场直播。 investors.uscellular.com.
United States Cellular Corporation (NYSE:USM) reported total operating revenues of $950 million for the first quarter of 2024, versus $986 million for the same period one year ago. Service revenues totaled $754 million, versus $767 million for the same period one year ago. Net income attributable to UScellular shareholders and related diluted earnings per share were $18 million and $0.20, respectively, for the first quarter of 2024 compared to $13 million and $0.15, respectively, in the same period one year ago.
美国无线电话公司（纽交所：USM）2024年第一季度总营收为9.5亿美元，去年同期为9.86亿美元。服务收入为7.54亿美元，去年同期为7.67亿美元。净利润归属于美国无线电话公司股东的和调整后的摊薄每股收益分别为1800万美元和0.20美元，与去年同期的1300万美元和0.15美元相比，有所增加。
1Q 2024 Highlights*
2024年第一季度亮点*
-
Financial results
- Service revenues decreased 2%
- Postpaid ARPU grew 3%
- Net income, Adjusted OIBDA and Adjusted EBITDA up significantly
- Postpaid churn rate reduced 4%
- Fixed wireless customers grew 42% to 124,000
-
财务业绩
- 服务收入下降2％
- 后付费平均每用户每月收入增长3％
- 净利润、调整运营利润前折旧与摊销、调整运营利润增长显著
- 后付费流失率减少了4％
- 固定无线电信客户增加了42％，达到124,000个
* Comparisons are 1Q'23 to 1Q'24 unless otherwise noted
*比较的基准是1Q'23至1Q'24，除非另有说明
"We delivered strong bottom-line results during the quarter, driven by postpaid ARPU growth and our ongoing focus on expense discipline. We also drove year-over-year improvements in postpaid churn, and fixed wireless continued its strong customer growth trajectory," said Laurent C. Therivel, UScellular President and CEO. "Although we experienced some month-to-month improvement in postpaid net additions in the first quarter, postpaid handset gross additions continue to be a challenge, and this drove the postpaid net addition decline in the quarter. We have made recent promotional changes in order to drive improvement in postpaid handset subscriber momentum, while keeping us financially disciplined."
美国无线电话公司总裁兼首席执行官Laurent C. Therivel表示：“本季度我们取得了强劲的底线业绩表现，其中后付费平均每用户每月收入增长和对费用纪律的持续关注推动了表现的提升。我们还推动了后付费流失率的同比改善，固定无线电信客户也继续保持强劲的客户增长势头。尽管我们在第一季度经历了后付费净新增用户同比改善的一些月度改善，后付费手持设备净增用户量持续下降，这导致了净新增用户的下降。为了推动后付费手持设备用户数量的增长势头，同时保持财务纪律我们已经做出了最近的促销改变。”
Exploration of Strategic Alternatives for UScellular
On August 4, 2023, Telephone and Data Systems, Inc. (TDS) and UScellular announced that the Boards of Directors of both companies decided to initiate a process to explore a range of strategic alternatives for UScellular. The review remains active and on-going.
UScellular战略选择的探索
2023年8月4日，电话和数据系统（TDS）和美国无线电话公司宣布，两家公司的董事会决定启动探索美国无线电话公司一系列战略选择的过程。此次审查仍在进行中。
2024 Estimated Results
UScellular's current estimates of full-year 2024 results are shown below. Such estimates represent management's view as of May 3, 2024 and should not be assumed to be current as of any future date. UScellular 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.
2024 预计的结果
美国无线电话公司2024年全年估计结果如下。这些估计代表了2024年5月3日管理层的观点，并不应假定在将来的任何日期都是最新的。美国无线电话公司不承担更新这些估计的责任，无论是因为新信息、未来事件还是其他原因。最终结果可能会与估计结果有实质性不同。
|
2024 Estimated Results |
||
|
Previous |
Current |
|
|
(Dollars in millions) |
||
|
Service revenues |
$2,950-$3,050 |
Unchanged |
|
Adjusted OIBDA1, 2 |
$750-$850 |
Unchanged |
|
Adjusted EBITDA1, 2 |
$920-$1,020 |
Unchanged |
|
Capital expenditures |
$550-$650 |
Unchanged |
|
2024年预估结果 |
||
|
旧 |
当前 |
|
|
(金额单位：百万美元) |
||
|
服务收入 |
2,950-3,050美元 |
未更改 |
|
调整后的OIBDA1, 2 |
$750-$850 |
未更改 |
|
调整后的EBITDA1, 2 |
$920-$1,020 |
未更改 |
|
资本支出 |
$550-$650 |
未更改 |
The following table reconciles EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measures, Net income or Income before income taxes. In providing 2024 estimated results, UScellular has not completed the below reconciliation to Net income because it does not provide guidance for income taxes. Although potentially significant, UScellular believes that the impact of income taxes cannot be reasonably predicted; therefore, UScellular is unable to provide such guidance.
下表对比了EBITDA、调整后的EBITDA和调整后的OIBDA与相应的GAAP指标，即净收入或收入税前利润。在提供2024年预估结果时，UScellular未完成以下与净收入的协调，因为它未提供收入税的指导方针。虽然可能具有重大意义，但UScellular认为，收入税的影响无法合理预测；因此，UScellular无法提供此类指导方针。
|
Actual Results |
|||||
|
2024 Estimated |
Three Months Ended March 31, 2024 |
Year Ended |
|||
|
(Dollars in millions) |
|||||
|
Net income (GAAP) |
N/A |
$24 |
$58 |
||
|
Add back: |
|||||
|
Income tax expense |
N/A |
28 |
53 |
||
|
Income before income taxes (GAAP) |
$60-$160 |
$52 |
$111 |
||
|
Add back: |
|||||
|
Interest expense |
185 |
43 |
196 |
||
|
Depreciation, amortization and accretion expense |
660 |
165 |
656 |
||
|
EBITDA (Non-GAAP)1 |
$905-$1,005 |
$260 |
$963 |
||
|
Add back or deduct: |
|||||
|
Expenses related to strategic alternatives review |
— |
7 |
8 |
||
|
(Gain) loss on asset disposals, net |
15 |
6 |
17 |
||
|
(Gain) loss on license sales and exchanges, net |
— |
(1) |
(2) |
||
|
Adjusted EBITDA (Non-GAAP)1 |
$920-$1,020 |
$272 |
$986 |
||
|
Deduct: |
|||||
|
Equity in earnings of unconsolidated entities |
155 |
42 |
158 |
||
|
Interest and dividend income |
15 |
2 |
10 |
||
|
Adjusted OIBDA (Non-GAAP)1 |
$750-$850 |
$228 |
$818 |
||
|
实际结果 |
|||||
|
2024年预测 |
三个月之内结束 酒精饮料销售 $ 32,907 45.5％ $ 30,136 42.1％ $ 66,223 |
截止年份 |
|||
|
(金额单位：百万美元) |
|||||
|
净利润（GAAP） |
无数据 |
$24 |
$58 |
||
|
增加： |
|||||
|
所得税费用 |
无数据 |
28 |
53 |
||
|
营业税前收入(GAAP) |
$60-$160 |
$52 |
$111 |
||
|
增加： |
|||||
|
利息费用 |
185 |
43 |
196 |
||
|
折旧、摊销和升值费用 |
660 |
165 |
656 |
||
|
EBITDA（非GAAP）1 |
$905-$1,005 |
$260 |
$963 |
||
|
加上或减去: |
|||||
|
与战略替代方案审查有关的费用 |
— |
7 |
8 |
||
|
资产处置收益(损失)，净额 |
15 |
6 |
17 |
||
|
许可证销售和交换的（收益）损失，净额 |
— |
(1) |
(2) |
||
|
调整后的EBITDA（非GAAP）1 |
$920-$1,020 |
$272 |
$986 |
||
|
扣除： |
|||||
|
对非完全控制下企业的权益投资收益 |
155 |
42 |
158 |
||
|
利息和股息收入 |
15 |
2 |
10 |
||
|
调整后的营业利润（非GAAP）1 |
$750-$850 |
$228 |
$818 |
||
|
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. UScellular does not intend to imply that any such items set forth in the reconciliation above are 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 UScellular's operating results before significant recurring non-cash charges, nonrecurring expenses, gains and losses, and other items as presented above as they provide additional relevant and useful information to investors and other users of UScellular's 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, gains and losses, and expenses related to the strategic alternatives review of UScellular 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 March 31, 2024, can be found on UScellular's website at investors.uscellular.com. |
|
|
2 2024 Estimated Results do not reflect any anticipated costs, expenses or results of the strategic alternatives review referenced above. |
|
1 EBITDA、调整后的EBITDA和调整后的OIBDA定义为扣除上述调节项目的净利润。EBITDA、调整后的EBITDA和调整后的OIBDA不是根据美国通用会计准则（GAAP）的财务绩效测量，不应将其视为净利润或经营活动现金流量的替代品，也不应将其视为衡量流动性的指标。 UScellular不打算暗示协调表中任何此类项目为罕见或异常；此类项目可能在未来发生。管理层使用调整后的EBITDA和调整后的OIBDA作为盈利能力的衡量标准，因此将其与净利润协调是合适的。管理层认为调整后的EBITDA和调整后的OIBDA是有用的测量UScellular在重复性非现金费用、非重复性费用、收益和损失以及其他项目中很好的经营结果的指标，如以上所述的，提供了投资者和UScellular财务数据其他用户评估其经营业绩的有效信息的方法，与管理层对业务绩效的评估一致。调整后的EBITDA显示扣除了Unconsolidated Entities的权益性收益和利息和股息收入后的利润，调整后的OIBDA进一步减少以显示排除投资活动的经营活动表现。上表将EBITDA、调整后的EBITDA和调整后的OIBDA协调到相应的GAAP度量值，即净利润或收入税前收入。有关2024年3月31日的非GAAP财务测量的其他信息和协调可在UScellular的网站上找到。investors.uscellular.com. |
|
|
2 2024年预计结果不反映上述战略选择评估的任何预期成本、费用或结果。 |
Conference Call Information
UScellular will hold a conference call on May 3, 2024 at 9:00 a.m. Central Time.
电话会议信息
UScellular将于2024年5月3日上午9:00（美国中部时间）举行电话会议。
- Access the live call on the Events & Presentations page of investors.uscellular.com or at https://events.q4inc.com/attendee/316610586
- Access the call by phone at (888)330-2384 conference ID: 1328528.
- 在“活动和介绍”页面上访问现场电话investors.uscellular.com或在https://events.q4inc.com/attendee/316610586
- 请致电（888）330-2384会议ID：1328528参加电话。
Before the call, certain financial and statistical information to be discussed during the call will be posted to investors.uscellular.com. The call will be archived on the Events & Presentations page of investors.uscellular.com.
在电话会议之前，将会在UScellular网站上发布与会议讨论相关的某些财务和统计信息。电话会议将存档在“活动和介绍”页面上。investors.uscellular.com.
About UScellular
United States Cellular Corporation provides a comprehensive range of wireless products and services, excellent customer support, and a high-quality network to customers with 4.5 million retail connections in 21 states. The Chicago-based company had 4,300 full- and part-time associates as of March 31, 2024. At the end of the first quarter of 2024, Telephone and Data Systems, Inc. owned approximately 83 percent of UScellular. For more information about UScellular, visit uscellular.com.
关于UScellular
美国无线电话公司为21个州的450万零售用户提供全面的无线产品和服务、优质的客户支持和高质量的网络。总部位于芝加哥的公司截至2024年3月31日有4300名全职和兼职员工。2024年第一季度末，电话和数据系统公司拥有UScellular约83%。有关UScellular的更多信息，请访问uscellular.com。uscellular.com.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the company's plans, beliefs, estimates, and expectations. These statements are based on current estimates, projections, and assumptions, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to: whether any strategic alternatives for UScellular will be successfully identified or completed; whether any such strategic alternative will result in additional value for UScellular and its shareholders and whether the process will have an adverse impact on UScellular's business; intense competition; the ability to attract people of outstanding talent throughout all levels of the organization; UScellular's smaller scale relative to larger competitors; the ability to obtain or maintain roaming arrangements with other carriers on acceptable terms and changes in roaming practices; the ability to obtain access to adequate radio spectrum to meet current or anticipated future needs, including participation in FCC auctions; changes in demand, consumer preferences and perceptions, price competition, or churn rates; advances in technology; impacts of costs, integration problems or other factors associated with acquisitions, divestitures or exchanges of properties or wireless spectrum licenses and/or expansion of UScellular's businesses; the ability of the company to successfully construct and manage its networks; difficulties involving third parties with which UScellular does business; uncertainties in UScellular's future cash flows and liquidity and access to the capital markets; the ability to make payments on UScellular indebtedness or comply with the terms of debt covenants; conditions in the U.S. telecommunications industry; the value of assets and investments; the state and federal regulatory environment; pending and future litigation; cyber-attacks or other breaches of network or information technology security; potential conflicts of interests between TDS and UScellular; disruption in credit or other financial markets; deterioration of U.S. or global economic conditions; and the impact, duration and severity of public health emergencies. Investors are encouraged to consider these and other risks and uncertainties that are more fully described under "Risk Factors" in the most recent filing of UScellular's Form 10-K, as updated by any UScellular Form 10-Q filed subsequent to such Form 10-K.
根据1995年《私人证券诉讼改革法》的安全港声明：本新闻稿中所列出的所有内容（除历史和事实内容外）均代表前瞻性声明。这包括关于公司计划、信仰、估计和期望的所有声明。这些陈述基于目前的估计、投影和假设，涉及某些风险和不确定性，可能导致实际结果与前瞻性声明中的结果不同。可能影响这些前瞻性声明的重要因素包括但不限于：是否成功确定或完成UScellular的任何战略选择；任何此类战略选择是否为UScellular及其股东提供额外的价值，以及该过程是否会对UScellular的业务产生不利影响；激烈的竞争；在组织的所有层面吸引杰出人才的能力；相对于较大竞争对手，UScellular的规模较小；在可接受的条款下获得或维护与其他运营商的漫游协议和漫游做法的变化；获得足够的无线电频谱以满足当前或预期未来需求，包括参与FCC拍卖；需求、消费者偏好和看涨率的变化；技术的进步；与收购、剥离或投资活动有关的成本、整合问题或其他因素或UScellular业务扩展；公司成功构建和管理其网络的能力；涉及UScellular的第三方的困难；UScellular未来现金流和流动性的不确定性以及对资本市场的访问；是否能够支付UScellular的债务或遵守债务契约条款；美国电信行业的状况；资产和投资价值；国家和联邦监管环境；待决和未来诉讼；网络或信息技术安全的网络袭击或其他侵犯安全；TDS和UScellular之间潜在的利益冲突；信贷市场或其他金融市场的动荡；美国或全球经济状况的恶化；公共卫生紧急情况的影响、持续时间和严重程度。投资者被鼓励考虑这些和其他风险和不确定性，这些风险和不确定性更全面地描述在UScellular的最新提交的10-K表格中的“风险因素”下，以及在任何UScellular提交的随后提交的10-Q表格中更新。
For more information about UScellular, visit: www.uscellular.com
关于UScellular的更多信息，请访问：www.uscellular.com
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United States Cellular Corporation | |||||||||
|
Summary Operating Data (Unaudited) | |||||||||
|
As of or for the Quarter Ended |
3/31/2024 |
12/31/2023 |
9/30/2023 |
6/30/2023 |
3/31/2023 |
||||
|
Retail Connections |
|||||||||
|
Postpaid |
|||||||||
|
Total at end of period1 |
4,051,000 |
4,106,000 |
4,159,000 |
4,194,000 |
4,223,000 |
||||
|
Gross additions |
106,000 |
129,000 |
128,000 |
125,000 |
137,000 |
||||
|
Handsets |
63,000 |
80,000 |
84,000 |
83,000 |
93,000 |
||||
|
Connected devices |
43,000 |
49,000 |
44,000 |
42,000 |
44,000 |
||||
|
Net additions (losses)1 |
(44,000) |
(50,000) |
(35,000) |
(28,000) |
(24,000) |
||||
|
Handsets |
(47,000) |
(53,000) |
(38,000) |
(29,000) |
(25,000) |
||||
|
Connected devices |
3,000 |
3,000 |
3,000 |
1,000 |
1,000 |
||||
|
ARPU2 |
$ 51.96 |
$ 51.61 |
$ 51.11 |
$ 50.64 |
$ 50.66 |
||||
|
ARPA3 |
$ 132.00 |
$ 131.63 |
$ 130.91 |
$ 130.19 |
$ 130.77 |
||||
|
Handset upgrade rate4 |
4.5 % |
5.8 % |
4.5 % |
4.8 % |
4.9 % |
||||
|
Churn rate5 |
1.22 % |
1.44 % |
1.30 % |
1.21 % |
1.27 % |
||||
|
Handsets |
1.03 % |
1.22 % |
1.11 % |
1.01 % |
1.06 % |
||||
|
Connected devices |
2.52 % |
3.03 % |
2.64 % |
2.65 % |
2.78 % |
||||
|
Prepaid |
|||||||||
|
Total at end of period1 |
436,000 |
451,000 |
462,000 |
462,000 |
470,000 |
||||
|
Gross additions |
41,000 |
43,000 |
52,000 |
50,000 |
43,000 |
||||
|
Net additions (losses)1 |
(13,000) |
(11,000) |
— |
(8,000) |
(23,000) |
||||
|
ARPU2, 6 |
$ 32.25 |
$ 32.32 |
$ 33.44 |
$ 33.86 |
$ 33.19 |
||||
|
Churn rate5 |
4.06 % |
3.87 % |
3.68 % |
4.18 % |
4.63 % |
||||
|
Market penetration at end of period |
|||||||||
|
Consolidated operating population |
32,550,000 |
32,350,000 |
32,350,000 |
32,350,000 |
32,350,000 |
||||
|
Consolidated operating penetration7 |
14 % |
15 % |
15 % |
15 % |
15 % |
||||
|
Capital expenditures (millions) |
$ 131 |
$ 148 |
$ 111 |
$ 143 |
$ 208 |
||||
|
Total cell sites in service |
6,995 |
7,000 |
6,973 |
6,952 |
6,950 |
||||
|
Owned towers |
4,382 |
4,373 |
4,356 |
4,341 |
4,338 |
||||
|
联合 美国蜂窝通信公司 | |||||||||
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摘要运营数据（未经审计） | |||||||||
|
截至或为2021年第四季度结果 |
2024年3月31日 |
12/31/2023 |
2023年9月30日 |
2023年6月30日 |
2023年3月31日 |
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|
零售连锁店 |
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|
后付费 |
|||||||||
|
期末合计1 |
4,051,000 |
4,106,000 |
4,159,000 |
4,194,000 |
4,223,000 |
||||
|
总增加数 |
106,000 |
129,000 |
128,000 |
125,000 |
137,000 |
||||
|
手持设备 |
63,000 |
80,000 |
84,000 |
通过行使价值为$133,332的认股权，获得其普通股的股票。 |
93,000 |
||||
|
连接设备 |
43,000 |
49,000 |
44,000 |
42,000 |
44,000 |
||||
|
净增加数 (损失)1 |
（44,000） |
（50,000） |
(35,000) |
（28,000） |
（24,000） |
||||
|
手机 |
（47,000） |
（53,000） |
（38,000） |
(29,000) |
(25,000) |
||||
|
连接设备 |
3,000 |
3,000 |
3,000 |
1,000 |
1,000 |
||||
|
ARPU2 |
$ 51.96 |
$ 51.61 |
$ 51.11 |
$ 50.64 |
$ 50.66 |
||||
|
ARPA3 |
$ 132.00 |
$ 131.63 |
$ 130.91 |
$ 130.19 |
$ 130.77 |
||||
|
手机升级率4 |
4.5 % |
5.8 % |
4.5 % |
4.8% |
4.9 % |
||||
|
流失率5 |
1.22 % |
1.44 % |
1.30 % |
1.21 % |
1.27 % |
||||
|
手机 |
1.03 % |
1.22 % |
1.11 % |
1.01 % |
1.06 % |
||||
|
连接设备 |
2.52 % |
3.03% |
2.64% |
2.65 % |
2.78% |
||||
|
预付款项 |
|||||||||
|
期末合计1 |
436,000 |
451,000 |
462,000 |
462,000 |
470,000 |
||||
|
总增加数 |
41,000 |
43,000 |
52,000 |
50,000 |
43,000 |
||||
|
净增加数 (损失)1 |
(13,000) |
(11,000) |
— |
(8,000) |
(23,000) |
||||
|
ARPU2,6 |
$ 32.25 |
$ 32.32 |
$ 33.44 |
$ 33.86 |
$ 33.19 |
||||
|
流失率5 |
4.06% |
3.87% |
3.68% |
4.18% |
4.63 % |
||||
|
期末市场渗透率 |
|||||||||
|
合并运营人口 |
32,550,000 |
32,350,000 |
32,350,000 |
32,350,000 |
32,350,000 |
||||
|
合并运营渗透率7 |
14% |
15 % |
15 % |
15 % |
15 % |
||||
|
资本支出（百万美元） |
$ 131 |
$ 148 |
$ 111 |
$ 143 |
$ 208 |
||||
|
服务中的电芯总数 |
6,995 |
7,000 |
拥有的通信塔总数 |
6,952 |
6,950 |
||||
|
自有塔总数 |
4,382 |
4,373 |
4,356 |
4,341 |
4,338 |
||||
|
1 First quarter 2024 connections were adjusted to remove subscribers that could no longer access the UScellular network due to the CDMA shutdown. This resulted in 11,000 and 2,000 subscribers removed from the postpaid and prepaid base, respectively, that are not included in Net additions (losses) for the quarter. |
|
|
2 Average Revenue Per User (ARPU) - metric is calculated by dividing a revenue base by an average number of connections and by the number of months in the period. These revenue bases and connection populations are shown below: |
|
|
• Postpaid ARPU consists of total postpaid service revenues and postpaid connections. |
|
|
• Prepaid ARPU consists of total prepaid service revenues and prepaid connections. |
|
|
3 Average Revenue Per Account (ARPA) - metric is calculated by dividing total postpaid service revenues by the average number of postpaid accounts and by the number of months in the period. |
|
|
4 Handset upgrade rate calculated as total handset upgrade transactions divided by average postpaid handset connections. |
|
|
5 Churn rate represents the percentage of the connections that disconnect service each month. These rates represent the average monthly churn rate for each respective period. |
|
|
6 Fourth quarter 2023 Prepaid ARPU excludes a $6 million reduction of prepaid revenue related to an adjustment to correct a prior period error recorded in the fourth quarter of 2023. |
|
|
7 Market penetration is calculated by dividing the number of wireless connections at the end of the period by the total estimated population of consolidated operating markets. |
|
1 2024 年第一季度，由于 CDMA 停机，不再能够接入 UScellular 网络的订阅用户数已经调整。这导致后付费和预付费用户群中分别减少了 11,000 和 2,000 名用户，这些用户在该季度的净增长（亏损）中不包括。 |
|
|
2 用户平均收入（ARPU）——该指标是通过将收入基数除以平均连接数和期间月份数来计算的。这些收入基数和连接人数如下所示： |
|
|
后付费ARPU由总后付费服务收入和后付费连接组成。 |
|
|
预付费ARPU由总预付费服务收入和预付费连接组成。 |
|
|
3 每账户平均营业收入（ARPA) - 指标是通过将总后付费服务营业收入除以平均后付费账户数并除以期间月数来计算的。 |
|
|
4 手机升级率是指总手机升级交易数除以平均后付费手机连接数的比率。 |
|
|
5 流失率表示每月断开服务的连接的百分比，这些比率代表各自期间的平均月流失率。 |
|
|
6 2023年第四季度预付费ARPU不包括与第四季度2018年记录的修正有关的600万美元预付费收入的减少。 |
|
|
7 市场渗透率是通过将期间末的无线连接数除以合并运营市场的总估计人口来计算的。 |
|
United States Cellular Corporation | |||||
|
Consolidated Statement of Operations Highlights | |||||
|
(Unaudited) | |||||
|
Three Months Ended March 31, |
|||||
|
2024 |
2023 |
2024 vs. 2023 |
|||
|
(Dollars and shares in millions, except per share amounts) |
|||||
|
Operating revenues |
|||||
|
Service |
$ 754 |
$ 767 |
(2) % |
||
|
Equipment sales |
196 |
219 |
(10) % |
||
|
Total operating revenues |
950 |
986 |
(4) % |
||
|
Operating expenses |
|||||
|
System operations (excluding Depreciation, amortization and accretion reported below) |
182 |
182 |
— |
||
|
Cost of equipment sold |
216 |
253 |
(14) % |
||
|
Selling, general and administrative |
331 |
345 |
(4) % |
||
|
Depreciation, amortization and accretion |
165 |
170 |
(2) % |
||
|
(Gain) loss on asset disposals, net |
6 |
10 |
(43) % |
||
|
(Gain) loss on license sales and exchanges, net |
(1) |
— |
N/M |
||
|
Total operating expenses |
899 |
960 |
(6) % |
||
|
Operating income |
51 |
26 |
94 % |
||
|
Investment and other income (expense) |
|||||
|
Equity in earnings of unconsolidated entities |
42 |
44 |
(5) % |
||
|
Interest and dividend income |
2 |
2 |
2 % |
||
|
Interest expense |
(43) |
(47) |
8 % |
||
|
Total investment and other income (expense) |
1 |
(1) |
N/M |
||
|
Income before income taxes |
52 |
25 |
N/M |
||
|
Income tax expense |
28 |
11 |
N/M |
||
|
Net income |
24 |
14 |
64 % |
||
|
Less: Net income attributable to noncontrolling interests, net of tax |
6 |
1 |
N/M |
||
|
Net income attributable to UScellular shareholders |
$ 18 |
$ 13 |
36 % |
||
|
Basic weighted average shares outstanding |
85 |
85 |
1 % |
||
|
Basic earnings per share attributable to UScellular shareholders |
$ 0.21 |
$ 0.15 |
35 % |
||
|
Diluted weighted average shares outstanding |
88 |
86 |
2 % |
||
|
Diluted earnings per share attributable to UScellular shareholders |
$ 0.20 |
$ 0.15 |
33 % |
||
|
N/M - Percentage change not meaningful |
|||||
|
美国无线电话股份公司 | |||||
|
综合业务各表业绩亮点 | |||||
|
(未经审计) | |||||
|
三个月之内结束 3月31日 |
|||||
|
2024 |
2023 |
2024 与2023年相比 |
|||
|
（以百万美元和股数为单位，除每股金额外） |
|||||
|
营业收入 |
|||||
|
服务 |
$ 754 |
$ 767 |
(2%) |
||
|
设备销售 |
196 |
219 |
（下降10%） |
||
|
总营收 |
950 |
986 |
（下降4%） |
||
|
营业费用 |
|||||
|
系统操作（不包括下面报告的折旧、摊销和应计） |
182 |
182 |
— |
||
|
销售设备成本 |
216 |
253 |
（下降14%） |
||
|
销售、一般及行政费用 |
331 |
345 |
（下降4%） |
||
|
折旧、摊销和增值部分费用 |
165 |
170 |
(2%) |
||
|
资产处置收益(损失)，净额 |
6 |
10 |
（下降43%） |
||
|
许可证销售和交换的（收益）损失，净额 |
(1) |
— |
N/M |
||
|
营业费用总计 |
899 |
960 |
-6% |
||
|
营业利润 |
51 |
26 |
94% |
||
|
投资和其他收益（费用） |
|||||
|
对非完全控制下企业的权益投资收益 |
42 |
44 |
-5% |
||
|
利息和股息收入 |
2 |
2 |
2 % |
||
|
利息费用 |
(43) |
(47) |
8% |
||
|
总投资和其他收入（费用） |
1 |
(1) |
N/M |
||
|
税前收入 |
52 |
25 |
N/M |
||
|
所得税费用 |
28 |
11 |
N/M |
||
|
净收入 |
24 |
14 |
64% |
||
|
扣非控股权益净利润 |
6 |
1 |
N/M |
||
|
归属于UScellular的股东的净利润 |
$ 18 |
$ 13 |
36 % |
||
|
加权平均每股基本收益 |
85 |
85 |
1 % |
||
|
基本每股收益归属于UScellular股东 |
$ 0.21 |
$0.15 |
35% |
||
|
摊薄加权平均股份数 |
88 |
86 |
2 % |
||
|
摊薄每股收益归属于UScellular股东 |
$ 0.20 |
$0.15 |
33 % |
||
|
N/M - 百分比变化没有实际意义 |
|||||
|
United States Cellular Corporation | |||
|
Consolidated Statement of Cash Flows | |||
|
(Unaudited) | |||
|
Three Months Ended March 31, |
|||
|
2024 |
2023 |
||
|
(Dollars in millions) |
|||
|
Cash flows from operating activities |
|||
|
Net income |
$ 24 |
$ 14 |
|
|
Add (deduct) adjustments to reconcile net income to net cash flows from operating activities |
|||
|
Depreciation, amortization and accretion |
165 |
170 |
|
|
Bad debts expense |
29 |
26 |
|
|
Stock-based compensation expense |
13 |
— |
|
|
Deferred income taxes, net |
4 |
7 |
|
|
Equity in earnings of unconsolidated entities |
(42) |
(44) |
|
|
Distributions from unconsolidated entities |
22 |
20 |
|
|
(Gain) loss on asset disposals, net |
6 |
10 |
|
|
(Gain) loss on license sales and exchanges, net |
(1) |
— |
|
|
Other operating activities |
1 |
2 |
|
|
Changes in assets and liabilities from operations |
|||
|
Accounts receivable |
16 |
37 |
|
|
Equipment installment plans receivable |
2 |
1 |
|
|
Inventory |
24 |
(1) |
|
|
Accounts payable |
(15) |
(149) |
|
|
Customer deposits and deferred revenues |
5 |
(10) |
|
|
Accrued taxes |
23 |
1 |
|
|
Accrued interest |
9 |
9 |
|
|
Other assets and liabilities |
(82) |
(52) |
|
|
Net cash provided by operating activities |
203 |
41 |
|
|
Cash flows from investing activities |
|||
|
Cash paid for additions to property, plant and equipment |
(133) |
(196) |
|
|
Cash paid for licenses |
(11) |
(5) |
|
|
Other investing activities |
— |
9 |
|
|
Net cash used in investing activities |
(144) |
(192) |
|
|
Cash flows from financing activities |
|||
|
Issuance of long-term debt |
40 |
115 |
|
|
Repayment of long-term debt |
(55) |
(3) |
|
|
Repayment of short-term debt |
— |
(60) |
|
|
Distributions to noncontrolling interests |
(2) |
(1) |
|
|
Cash paid for software license agreements |
(9) |
(7) |
|
|
Other financing activities |
(2) |
(1) |
|
|
Net cash provided by (used in) financing activities |
(28) |
43 |
|
|
Net increase (decrease) in cash, cash equivalents and restricted cash |
31 |
(108) |
|
|
Cash, cash equivalents and restricted cash |
|||
|
Beginning of period |
179 |
308 |
|
|
End of period |
$ 210 |
$ 200 |
|
|
美国无线电话股份公司 | |||
|
合并现金流量表 | |||
|
(未经审计) | |||
|
三个月之内结束 3月31日 |
|||
|
2024 |
2023 |
||
|
(金额单位：百万美元) |
|||
|
经营活动现金流 |
|||
|
净收入 |
$ 24 |
$ 14 |
|
|
将净收益与经营活动产生的现金流量调节的调整项目 |
|||
|
折旧、摊销和增值部分费用 |
165 |
170 |
|
|
坏账费用 |
29 |
26 |
|
|
股票补偿费用 |
13 |
— |
|
|
递延所得税负债，净额 |
4 |
7 |
|
|
对非完全控制下企业的权益投资收益 |
-42 |
(44) |
|
|
来自未合并实体的分配额 |
22 |
20 |
|
|
（出售资产）损益，净额 |
6 |
10 |
|
|
许可证销售和交换的（收益）损失，净额 |
(1) |
— |
|
|
变动 certain 资产和负债，扣除收购和处置的影响： |
1 |
2 |
|
|
从营运活动中的资产和负债变化 |
|||
|
应收账款 |
16 |
37 |
|
|
设备分期付款应收款项 |
2 |
1 |
|
|
库存 |
24 |
(1) |
|
|
应付账款 |
(15) |
(149) |
|
|
客户存款和收入预收款 |
5 |
（10） |
|
|
应计税费 |
23 |
1 |
|
|
应计利息 |
9 |
9 |
|
|
其他资产和负债 |
(82) |
（52） |
|
|
经营活动产生的现金流量净额 |
203 |
41 |
|
|
投资活动现金流量 |
|||
|
现金支付的固定资产和设备增加额 |
(133) |
(196) |
|
|
现金支付专利许可证 |
(11) |
(5) |
|
|
其他投资活动 |
— |
9 |
|
|
投资活动产生的净现金流出 |
（144） |
(192) |
|
|
筹资活动现金流量 |
|||
|
发行长期债务 |
40 |
115 |
|
|
偿还长期债务 |
（55） |
(3) |
|
|
短期债务偿还 |
— |
(60) |
|
|
对非控股权益的分配 |
(2) |
(1) |
|
|
现金支付的软件许可协议 |
-9 |
(7) |
|
|
其他融资活动 |
(2) |
(1) |
|
|
筹集资金的净现金流量 |
(28) |
43 |
|
|
现金、现金等价物及受限制的现金流动净增长额（减少额） |
31 |
(108) |
|
|
现金、现金等价物和受限制的现金 |
|||
|
期初 |
179 |
308 |
|
|
期末 |
$ 210 |
$ 200 |
|
|
United States Cellular Corporation | |||
|
Consolidated Balance Sheet Highlights | |||
|
(Unaudited) | |||
|
ASSETS | |||
|
March 31, 2024 |
December 31, 2023 |
||
|
(Dollars in millions) |
|||
|
Current assets |
|||
|
Cash and cash equivalents |
$ 185 |
$ 150 |
|
|
Accounts receivable, net |
932 |
957 |
|
|
Inventory, net |
175 |
199 |
|
|
Prepaid expenses |
71 |
57 |
|
|
Income taxes receivable |
— |
1 |
|
|
Other current assets |
32 |
36 |
|
|
Total current assets |
1,395 |
1,400 |
|
|
Assets held for sale |
— |
15 |
|
|
Licenses |
4,711 |
4,693 |
|
|
Investments in unconsolidated entities |
482 |
461 |
|
|
Property, plant and equipment, net |
2,540 |
2,576 |
|
|
Operating lease right-of-use assets |
910 |
915 |
|
|
Other assets and deferred charges |
666 |
690 |
|
|
Total assets |
$ 10,704 |
$ 10,750 |
|
|
美国无线电话 公司 | |||
|
合并资产负债表亮点 | |||
|
(未经审计) | |||
|
资产 | |||
|
酒精饮料销售 $ 32,907 45.5％ $ 30,136 42.1％ $ 66,223 |
2023年12月31日 |
||
|
(金额单位：百万美元) |
|||
|
流动资产 |
|||
|
现金及现金等价物 |
$ 185 |
$ 150 |
|
|
应收账款净额 |
932 |
957 |
|
|
114,467 |
175 |
199 |
|
|
预付费用 |
71 |
57 |
|
|
应收所得税款项 |
— |
1 |
|
|
其他资产 |
32 |
36 |
|
|
总流动资产 |
1,395 |
1,400 |
|
|
待售资产 |
— |
15 |
|
|
许可证 |
4,711 |
4,693 |
|
|
对未合并实体的投资 |
482 |
461 |
|
|
物业、厂房和设备，净值 |
2,540 |
2,576 |
|
|
经营租赁权使用资产 |
910 |
915 |
|
|
其他资产和递延费用 |
666 |
690 |
|
|
总资产 |
$ 10,704 |
$ 10,750 |
|
|
United States Cellular Corporation | |||
|
Consolidated Balance Sheet Highlights | |||
|
(Unaudited) | |||
|
LIABILITIES AND EQUITY | |||
|
March 31, 2024 |
December 31, 2023 |
||
|
(Dollars in millions, except per share amounts) |
|||
|
Current liabilities |
|||
|
Current portion of long-term debt |
$ 20 |
$ 20 |
|
|
Accounts payable |
229 |
248 |
|
|
Customer deposits and deferred revenues |
235 |
229 |
|
|
Accrued taxes |
49 |
32 |
|
|
Accrued compensation |
32 |
83 |
|
|
Short-term operating lease liabilities |
134 |
135 |
|
|
Other current liabilities |
138 |
154 |
|
|
Total current liabilities |
837 |
901 |
|
|
Deferred liabilities and credits |
|||
|
Deferred income tax liability, net |
758 |
755 |
|
|
Long-term operating lease liabilities |
827 |
831 |
|
|
Other deferred liabilities and credits |
564 |
565 |
|
|
Long-term debt, net |
3,029 |
3,044 |
|
|
Noncontrolling interests with redemption features |
16 |
12 |
|
|
Equity |
|||
|
UScellular shareholders' equity |
|||
|
Series A Common and Common Shares, par value $1.00 per share |
88 |
88 |
|
|
Additional paid-in capital |
1,740 |
1,726 |
|
|
Treasury shares |
(80) |
(80) |
|
|
Retained earnings |
2,910 |
2,892 |
|
|
Total UScellular shareholders' equity |
4,658 |
4,626 |
|
|
Noncontrolling interests |
15 |
16 |
|
|
Total equity |
4,673 |
4,642 |
|
|
Total liabilities and equity |
$ 10,704 |
$ 10,750 |
|
|
美国无线电话股份公司 | |||
|
合并资产负债表亮点 | |||
|
(未经审计) | |||
|
负债和股东权益 | |||
|
酒精饮料销售 $ 32,907 45.5％ $ 30,136 42.1％ $ 66,223 |
2023年12月31日 |
||
|
（金额单位为百万美元，每股金额除外） |
|||
|
流动负债 |
|||
|
开多次数 |
$ 20 |
$ 20 |
|
|
应付账款 |
229 |
248 |
|
|
客户存款和收入预收款 |
235 |
229 |
|
|
应计税费 |
49 |
32 |
|
|
应计的薪资 |
32 |
83 |
|
|
短期营业租赁负债 |
134 |
135 |
|
|
其他流动负债 |
138 |
154 |
|
|
流动负债合计 |
837 |
901 |
|
|
递延负债和信用额度 |
|||
|
递延所得税负债，净额 |
758 |
755 |
|
|
长期经营租赁负债 |
827 |
831 |
|
|
其他递延负债和信用额度 |
564 |
565 |
|
|
长期借款，净 |
3029 |
3,044 |
|
|
非控制权益 带赎回特征的利息 |
16 |
12 |
|
|
股权 |
|||
|
UScellular股东权益 |
|||
|
A类普通股和普通股，每股面值1.00美元 |
88 |
88 |
|
|
额外实收资本 |
1,740 |
1,726 |
|
|
库藏股 |
(80) |
(80) |
|
|
保留盈余 |
$7,709。该租约于2023年7月开始。与此租约相关的使用权资产和租赁负债将于2023年7月记录。 |
2,892 |
|
|
UScellular股东总权益 |
4,658 |
4,626 |
|
|
非控制权益 |
15 |
16 |
|
|
股东权益总计 |
4,673 |
4,642 |
|
|
负债和股东权益总额 |
$ 10,704 |
$ 10,750 |
|
|
United States Cellular Corporation | |||
|
Financial Measures and Reconciliations | |||
|
(Unaudited) | |||
|
Free Cash Flow | |||
|
Three Months Ended March 31, |
|||
|
2024 |
2023 |
||
|
(Dollars in millions) |
|||
|
Cash flows from operating activities (GAAP) |
$ 203 |
$ 41 |
|
|
Cash paid for additions to property, plant and equipment |
(133) |
(196) |
|
|
Cash paid for software license agreements |
(9) |
(7) |
|
|
Free cash flow (Non-GAAP)1 |
$ 61 |
$ (162) |
|
|
美国无线电话股份公司 | |||
|
财务指标和调节 | |||
|
(未经审计) | |||
|
自由现金流 | |||
|
三个月之内结束 3月31日 |
|||
|
2024 |
2023 |
||
|
(金额单位：百万美元) |
|||
|
经营活动现金流量（GAAP） |
$ 203 |
$ 41 |
|
|
现金支付的固定资产和设备增加额 |
(133) |
(196) |
|
|
现金支付的软件许可协议 |
-9 |
(7) |
|
|
自由现金流（非公认会计原则）1 |
$ 61 |
$ (162) |
|
|
1 Free cash flow is a non-GAAP financial measure which UScellular believes may be useful to investors and other users of its financial information in evaluating liquidity, specifically, the amount of net cash generated by business operations after deducting Cash paid for additions to property, plant and equipment and Cash paid for software license agreements. |
|
1 自由现金流是UScellular认为对于投资者和其他使用其财务信息的用户在评估流动性方面可能有用的非GAAP财务指标，具体包括在扣除现金支付的固定资产和设备增加额以及现金支付的软件许可协议后，业务产生的净现金数量。 |
|
EBITDA, Adjusted EBITDA and Adjusted OIBDA | |||
|
The following table reconciles EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding | |||
|
Three Months Ended March 31, |
|||
|
2024 |
2023 |
||
|
(Dollars in millions) |
|||
|
Net income (GAAP) |
$ 24 |
$ 14 |
|
|
Add back: |
|||
|
Income tax expense |
28 |
11 |
|
|
Income before income taxes (GAAP) |
52 |
25 |
|
|
Add back: |
|||
|
Interest expense |
43 |
47 |
|
|
Depreciation, amortization and accretion |
165 |
170 |
|
|
EBITDA (Non-GAAP) |
260 |
242 |
|
|
Add back or deduct: |
|||
|
Expenses related to strategic alternatives review |
7 |
— |
|
|
(Gain) loss on asset disposals, net |
6 |
10 |
|
|
(Gain) loss on license sales and exchanges, net |
(1) |
— |
|
|
Adjusted EBITDA (Non-GAAP) |
272 |
252 |
|
|
Deduct: |
|||
|
Equity in earnings of unconsolidated entities |
42 |
44 |
|
|
Interest and dividend income |
2 |
2 |
|
|
Adjusted OIBDA (Non-GAAP) |
$ 228 |
$ 206 |
|
|
净利润、调整后的净利润和调整后的营业利润 | |||
|
下表将净利润、调整后的净收益和调整后的营业利润与相应的GAAP衡量指标进行了调整。 | |||
|
三个月之内结束 3月31日 |
|||
|
2024 |
2023 |
||
|
(金额单位：百万美元) |
|||
|
净利润（GAAP） |
$ 24 |
$ 14 |
|
|
增加： |
|||
|
所得税费用 |
28 |
11 |
|
|
营业税前收入(GAAP) |
52 |
25 |
|
|
增加： |
|||
|
利息费用 |
43 |
47 |
|
|
折旧、摊销和增值部分费用 |
165 |
170 |
|
|
EBITDA（非GAAP） |
260 |
242 |
|
|
加上或减去: |
|||
|
与战略替代方案审查有关的费用 |
7 |
— |
|
|
资产处置收益(损失)，净额 |
6 |
10 |
|
|
许可证销售和交换的（收益）损失，净额 |
(1) |
— |
|
|
调整后的EBITDA（非GAAP） |
272 |
252 |
|
|
扣除： |
|||
|
对非完全控制下企业的权益投资收益 |
42 |
44 |
|
|
利息和股息收入 |
2 |
2 |
|
|
调整后的营业利润（非GAAP） |
$ 228 |
$ 206 |
|
View original content:https://www.prnewswire.com/news-releases/uscellular-reports-first-quarter-2024-results-302135338.html
SOURCE United States Cellular Corporation
消息来源 美国无线电话公司