UScellular Reports First Quarter 2024 Results
UScellular Reports First Quarter 2024 Results
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.2024 guidance reaffirmed
2024年指引再次確認
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.
正如之前宣佈的那樣，美國無線電話公司將於2024年5月3日上午9:00（美國中部時間）舉行電話會議。通過投資者網站上的“事件和演示文稿”頁面即可收聽現場直播。 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.
美國無線電話公司（紐交所：USM）2024年第一季度總營收爲9.5億美元，去年同期爲9.86億美元。服務收入爲7.54億美元，去年同期爲7.67億美元。淨利潤歸屬於美國無線電話公司股東的和調整後的攤薄每股收益分別爲1800萬美元和0.20美元，與去年同期的1300萬美元和0.15美元相比，有所增加。
1Q 2024 Highlights*
2024年第一季度亮點*
-
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
-
財務業績
- 服務收入下降2％
- 後付費平均每用戶每月收入增長3％
- 淨利潤、調整運營利潤前折舊與攤銷、調整運營利潤增長顯著
- 後付費流失率減少了4％
- 固定無線電信客戶增加了42％，達到124,000個
* Comparisons are 1Q'23 to 1Q'24 unless otherwise noted
*比較的基準是1Q'23至1Q'24，除非另有說明
"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."
美國無線電話公司總裁兼首席執行官Laurent C. Therivel表示：“本季度我們取得了強勁的底線業績表現，其中後付費平均每用戶每月收入增長和對費用紀律的持續關注推動了表現的提升。我們還推動了後付費流失率的同比改善，固定無線電信客戶也繼續保持強勁的客戶增長勢頭。儘管我們在第一季度經歷了後付費淨新增用戶同比改善的一些月度改善，後付費手持設備淨增用戶量持續下降，這導致了淨新增用戶的下降。爲了推動後付費手持設備用戶數量的增長勢頭，同時保持財務紀律我們已經做出了最近的促銷改變。”
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戰略選擇的探索
2023年8月4日，電話和數據系統（TDS）和美國無線電話公司宣佈，兩家公司的董事會決定啓動探索美國無線電話公司一系列戰略選擇的過程。此次審查仍在進行中。
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 預計的結果
美國無線電話公司2024年全年估計結果如下。這些估計代表了2024年5月3日管理層的觀點，並不應假定在將來的任何日期都是最新的。美國無線電話公司不承擔更新這些估計的責任，無論是因爲新信息、未來事件還是其他原因。最終結果可能會與估計結果有實質性不同。
|
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年預估結果 |
||
|
舊 |
當前 |
|
|
(金額單位：百萬美元) |
||
|
服務收入 |
2,950-3,050美元 |
未更改 |
|
調整後的OIBDA1, 2 |
$750-$850 |
未更改 |
|
調整後的EBITDA1, 2 |
$920-$1,020 |
未更改 |
|
資本支出 |
$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.
下表對比了EBITDA、調整後的EBITDA和調整後的OIBDA與相應的GAAP指標，即淨收入或收入稅前利潤。在提供2024年預估結果時，UScellular未完成以下與淨收入的協調，因爲它未提供收入稅的指導方針。雖然可能具有重大意義，但UScellular認爲，收入稅的影響無法合理預測；因此，UScellular無法提供此類指導方針。
|
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 |
||
|
實際結果 |
|||||
|
2024年預測 |
三個月之內結束 酒精飲料銷售 $ 32,907 45.5％ $ 30,136 42.1％ $ 66,223 |
截止年份 |
|||
|
(金額單位：百萬美元) |
|||||
|
淨利潤（GAAP） |
無數據 |
$24 |
$58 |
||
|
增加： |
|||||
|
所得稅費用 |
無數據 |
28 |
53 |
||
|
營業稅前收入(GAAP) |
$60-$160 |
$52 |
$111 |
||
|
增加： |
|||||
|
利息費用 |
185 |
43 |
196 |
||
|
折舊、攤銷和升值費用 |
660 |
165 |
656 |
||
|
EBITDA（非GAAP）1 |
$905-$1,005 |
$260 |
$963 |
||
|
加上或減去: |
|||||
|
與戰略替代方案審查有關的費用 |
— |
7 |
8 |
||
|
資產處置收益(損失)，淨額 |
15 |
6 |
17 |
||
|
許可證銷售和交換的（收益）損失，淨額 |
— |
(1) |
(2) |
||
|
調整後的EBITDA（非GAAP）1 |
$920-$1,020 |
$272 |
$986 |
||
|
扣除： |
|||||
|
對非完全控制下企業的權益投資收益 |
155 |
42 |
158 |
||
|
利息和股息收入 |
15 |
2 |
10 |
||
|
調整後的營業利潤（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、調整後的EBITDA和調整後的OIBDA定義爲扣除上述調節項目的淨利潤。EBITDA、調整後的EBITDA和調整後的OIBDA不是根據美國通用會計準則（GAAP）的財務績效測量，不應將其視爲淨利潤或經營活動現金流量的替代品，也不應將其視爲衡量流動性的指標。 UScellular不打算暗示協調錶中任何此類項目爲罕見或異常；此類項目可能在未來發生。管理層使用調整後的EBITDA和調整後的OIBDA作爲盈利能力的衡量標準，因此將其與淨利潤協調是合適的。管理層認爲調整後的EBITDA和調整後的OIBDA是有用的測量UScellular在重複性非現金費用、非重複性費用、收益和損失以及其他項目中很好的經營結果的指標，如以上所述的，提供了投資者和UScellular財務數據其他用戶評估其經營業績的有效信息的方法，與管理層對業務績效的評估一致。調整後的EBITDA顯示扣除了Unconsolidated Entities的權益性收益和利息和股息收入後的利潤，調整後的OIBDA進一步減少以顯示排除投資活動的經營活動表現。上表將EBITDA、調整後的EBITDA和調整後的OIBDA協調到相應的GAAP度量值，即淨利潤或收入稅前收入。有關2024年3月31日的非GAAP財務測量的其他信息和協調可在UScellular的網站上找到。investors.uscellular.com. |
|
|
2 2024年預計結果不反映上述戰略選擇評估的任何預期成本、費用或結果。 |
Conference Call Information
UScellular will hold a conference call on May 3, 2024 at 9:00 a.m. Central Time.
電話會議信息
UScellular將於2024年5月3日上午9:00（美國中部時間）舉行電話會議。
- 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“活動和介紹”頁面上訪問現場電話investors.uscellular.com或在https://events.q4inc.com/attendee/316610586
- 請致電（888）330-2384會議ID：1328528參加電話。
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.
在電話會議之前，將會在UScellular網站上發佈與會議討論相關的某些財務和統計信息。電話會議將存檔在“活動和介紹”頁面上。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.
關於UScellular
美國無線電話公司爲21個州的450萬零售用戶提供全面的無線產品和服務、優質的客戶支持和高質量的網絡。總部位於芝加哥的公司截至2024年3月31日有4300名全職和兼職員工。2024年第一季度末，電話和數據系統公司擁有UScellular約83%。有關UScellular的更多信息，請訪問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.
根據1995年《私人證券訴訟改革法》的安全港聲明：本新聞稿中所列出的所有內容（除歷史和事實內容外）均代表前瞻性聲明。這包括關於公司計劃、信仰、估計和期望的所有聲明。這些陳述基於目前的估計、投影和假設，涉及某些風險和不確定性，可能導致實際結果與前瞻性聲明中的結果不同。可能影響這些前瞻性聲明的重要因素包括但不限於：是否成功確定或完成UScellular的任何戰略選擇；任何此類戰略選擇是否爲UScellular及其股東提供額外的價值，以及該過程是否會對UScellular的業務產生不利影響；激烈的競爭；在組織的所有層面吸引傑出人才的能力；相對於較大競爭對手，UScellular的規模較小；在可接受的條款下獲得或維護與其他運營商的漫遊協議和漫遊做法的變化；獲得足夠的無線電頻譜以滿足當前或預期未來需求，包括參與FCC拍賣；需求、消費者偏好和看漲率的變化；技術的進步；與收購、剝離或投資活動有關的成本、整合問題或其他因素或UScellular業務擴展；公司成功構建和管理其網絡的能力；涉及UScellular的第三方的困難；UScellular未來現金流和流動性的不確定性以及對資本市場的訪問；是否能夠支付UScellular的債務或遵守債務契約條款；美國電信行業的狀況；資產和投資價值；國家和聯邦監管環境；待決和未來訴訟；網絡或信息技術安全的網絡襲擊或其他侵犯安全；TDS和UScellular之間潛在的利益衝突；信貸市場或其他金融市場的動盪；美國或全球經濟狀況的惡化；公共衛生緊急情況的影響、持續時間和嚴重程度。投資者被鼓勵考慮這些和其他風險和不確定性，這些風險和不確定性更全面地描述在UScellular的最新提交的10-K表格中的“風險因素”下，以及在任何UScellular提交的隨後提交的10-Q表格中更新。
For more information about UScellular, visit: www.uscellular.com
關於UScellular的更多信息，請訪問：www.uscellular.com
|
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 |
||||
|
聯合 美國蜂窩通信公司 | |||||||||
|
摘要運營數據（未經審計） | |||||||||
|
截至或爲2021年第四季度結果 |
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 |
||||
|
零售連鎖店 |
|||||||||
|
後付費 |
|||||||||
|
期末合計1 |
4,051,000 |
4,106,000 |
4,159,000 |
4,194,000 |
4,223,000 |
||||
|
總增加數 |
106,000 |
129,000 |
128,000 |
125,000 |
137,000 |
||||
|
手機 |
63,000 |
80,000 |
84,000 |
通過行使價值爲$133,332的認股權，獲得其普通股的股票。 |
93,000 |
||||
|
連接設備 |
43,000 |
49,000 |
44,000 |
42,000 |
44,000 |
||||
|
淨增加數 (損失)1 |
（44,000） |
（50,000） |
(35,000) |
（28,000） |
（24,000） |
||||
|
手機 |
（47,000） |
（53,000） |
（38,000） |
(29,000) |
(25,000) |
||||
|
連接設備 |
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 |
||||
|
手機升級率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 % |
||||
|
手機 |
1.03 % |
1.22 % |
1.11 % |
1.01 % |
1.06 % |
||||
|
連接設備 |
2.52 % |
3.03% |
2.64% |
2.65 % |
2.78% |
||||
|
預付款項 |
|||||||||
|
期末合計1 |
436,000 |
451,000 |
462,000 |
462,000 |
470,000 |
||||
|
總增加數 |
41,000 |
43,000 |
52,000 |
50,000 |
43,000 |
||||
|
淨增加數 (損失)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 % |
||||
|
期末市場滲透率 |
|||||||||
|
合併運營人口 |
32,550,000 |
32,350,000 |
32,350,000 |
32,350,000 |
32,350,000 |
||||
|
合併運營滲透率7 |
14% |
15 % |
15 % |
15 % |
15 % |
||||
|
資本支出（百萬美元） |
$ 131 |
$ 148 |
$ 111 |
$ 143 |
$ 208 |
||||
|
服務中的電芯總數 |
6,995 |
7,000 |
擁有的通信塔總數 |
6,952 |
6,950 |
||||
|
自有塔總數 |
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，由於 CDMA 停機，不再能夠接入 UScellular 網絡的訂閱用戶數已經調整。這導致後付費和預付費用戶群中分別減少了 11,000 和 2,000 名用戶，這些用戶在該季度的淨增長（虧損）中不包括。 |
|
|
2 用戶平均收入（ARPU）——該指標是通過將收入基數除以平均連接數和期間月份數來計算的。這些收入基數和連接人數如下所示： |
|
|
後付費ARPU由總後付費服務收入和後付費連接組成。 |
|
|
預付費ARPU由總預付費服務收入和預付費連接組成。 |
|
|
3 每帳戶平均營業收入（ARPA) - 指標是通過將總後付費服務營業收入除以平均後付費帳戶數併除以期間月數來計算的。 |
|
|
4 手機升級率是指總手機升級交易數除以平均後付費手機連接數的比率。 |
|
|
5 流失率表示每月斷開服務的連接的百分比，這些比率代表各自期間的平均月流失率。 |
|
|
6 2023年第四季度預付費ARPU不包括與第四季度2018年記錄的修正有關的600萬美元預付費收入的減少。 |
|
|
7 市場滲透率是通過將期間末的無線連接數除以合併運營市場的總估計人口來計算的。 |
|
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 |
|||||
|
美國無線電話股份公司 | |||||
|
綜合業務各表業績亮點 | |||||
|
(未經審計) | |||||
|
三個月之內結束 3月31日 |
|||||
|
2024 |
2023 |
2024 與2023年相比 |
|||
|
（以百萬美元和股數爲單位，除每股金額外） |
|||||
|
營業收入 |
|||||
|
服務 |
$ 754 |
$ 767 |
(2%) |
||
|
設備銷售 |
196 |
219 |
（下降10%） |
||
|
總營收 |
950 |
986 |
（下降4%） |
||
|
營業費用 |
|||||
|
系統操作（不包括下面報告的折舊、攤銷和應計） |
182 |
182 |
— |
||
|
銷售設備成本 |
216 |
253 |
（下降14%） |
||
|
銷售、一般及行政費用 |
331 |
345 |
（下降4%） |
||
|
折舊、攤銷和增值部分費用 |
165 |
170 |
(2%) |
||
|
資產處置收益(損失)，淨額 |
6 |
10 |
（下降43%） |
||
|
許可證銷售和交換的（收益）損失，淨額 |
(1) |
— |
N/M |
||
|
營業費用總計 |
899 |
960 |
-6% |
||
|
營業利潤 |
51 |
26 |
94% |
||
|
投資和其他收益（費用） |
|||||
|
對非完全控制下企業的權益投資收益 |
42 |
44 |
-5% |
||
|
利息和股息收入 |
2 |
2 |
2 % |
||
|
利息費用 |
(43) |
(47) |
8% |
||
|
總投資和其他收入（費用） |
1 |
(1) |
N/M |
||
|
稅前收入 |
52 |
25 |
N/M |
||
|
所得稅費用 |
28 |
11 |
N/M |
||
|
淨收入 |
24 |
14 |
64% |
||
|
扣非控股權益淨利潤 |
6 |
1 |
N/M |
||
|
歸屬於UScellular的股東的淨利潤 |
$ 18 |
$ 13 |
36 % |
||
|
加權平均每股基本收益 |
85 |
85 |
1 % |
||
|
基本每股收益歸屬於UScellular股東 |
$ 0.21 |
$0.15 |
35% |
||
|
攤薄加權平均股份數 |
88 |
86 |
2 % |
||
|
攤薄每股收益歸屬於UScellular股東 |
$ 0.20 |
$0.15 |
33 % |
||
|
N/M - 百分比變化沒有實際意義 |
|||||
|
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 |
|
|
美國無線電話股份公司 | |||
|
合併現金流量表 | |||
|
(未經審計) | |||
|
三個月之內結束 3月31日 |
|||
|
2024 |
2023 |
||
|
(金額單位：百萬美元) |
|||
|
經營活動現金流 |
|||
|
淨收入 |
$ 24 |
$ 14 |
|
|
將淨收益與經營活動產生的現金流量調節的調整項目 |
|||
|
折舊、攤銷和增值部分費用 |
165 |
170 |
|
|
壞賬費用 |
29 |
26 |
|
|
股票補償費用 |
13 |
— |
|
|
遞延所得稅負債，淨額 |
4 |
7 |
|
|
對非完全控制下企業的權益投資收益 |
-42 |
(44) |
|
|
來自未合併實體的分配額 |
22 |
20 |
|
|
資產處置收益(損失)，淨額 |
6 |
10 |
|
|
許可證銷售和交換的（收益）損失，淨額 |
(1) |
— |
|
|
變動 certain 資產和負債，扣除收購和處置的影響： |
1 |
2 |
|
|
從營運活動中的資產和負債變化 |
|||
|
應收賬款 |
16 |
37 |
|
|
設備分期付款應收款項 |
2 |
1 |
|
|
庫存 |
24 |
(1) |
|
|
應付賬款 |
(15) |
(149) |
|
|
客戶存款和收入預收款 |
5 |
（10） |
|
|
應計稅費 |
23 |
1 |
|
|
應計利息 |
9 |
9 |
|
|
其他資產和負債 |
(82) |
（52） |
|
|
經營活動產生的現金流量淨額 |
203 |
41 |
|
|
投資活動現金流量 |
|||
|
現金支付的固定資產和設備增加額 |
(133) |
(196) |
|
|
現金支付專利許可證 |
(11) |
(5) |
|
|
其他投資活動 |
— |
9 |
|
|
投資活動產生的淨現金流出 |
（144） |
(192) |
|
|
籌資活動現金流量 |
|||
|
發行長期債務 |
40 |
115 |
|
|
償還長期債務 |
（55） |
(3) |
|
|
短期債務償還 |
— |
(60) |
|
|
對非控股權益的分配 |
(2) |
(1) |
|
|
現金支付的軟件許可協議 |
-9 |
(7) |
|
|
其他融資活動 |
(2) |
(1) |
|
|
籌集資金的淨現金流量 |
(28) |
43 |
|
|
現金、現金等價物及受限制的現金流動淨增長額（減少額） |
31 |
(108) |
|
|
現金、現金等價物和受限制的現金 |
|||
|
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 |
|
|
美國無線電話 公司 | |||
|
合併資產負債表亮點 | |||
|
(未經審計) | |||
|
資產 | |||
|
酒精飲料銷售 $ 32,907 45.5％ $ 30,136 42.1％ $ 66,223 |
2023年12月31日 |
||
|
(金額單位：百萬美元) |
|||
|
流動資產 |
|||
|
現金及現金等價物 |
$ 185 |
$ 150 |
|
|
應收賬款淨額 |
932 |
957 |
|
|
114,467 |
175 |
199 |
|
|
預付費用 |
71 |
57 |
|
|
應收所得稅款項 |
— |
1 |
|
|
其他資產 |
32 |
36 |
|
|
總流動資產 |
1,395 |
1,400 |
|
|
待售資產 |
— |
15 |
|
|
許可證 |
4,711 |
4,693 |
|
|
對未合併實體的投資 |
482 |
461 |
|
|
物業、廠房和設備，淨值 |
2,540 |
2,576 |
|
|
經營租賃權使用資產 |
910 |
915 |
|
|
其他資產和遞延費用 |
666 |
690 |
|
|
總資產 |
$ 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 |
|
|
美國無線電話股份公司 | |||
|
合併資產負債表亮點 | |||
|
(未經審計) | |||
|
負債和股東權益 | |||
|
酒精飲料銷售 $ 32,907 45.5％ $ 30,136 42.1％ $ 66,223 |
2023年12月31日 |
||
|
（金額單位爲百萬美元，每股金額除外） |
|||
|
流動負債 |
|||
|
開多次數 |
$ 20 |
$ 20 |
|
|
應付賬款 |
229 |
248 |
|
|
客戶存款和收入預收款 |
235 |
229 |
|
|
應計稅費 |
49 |
32 |
|
|
應計的薪資 |
32 |
83 |
|
|
短期營業租賃負債 |
134 |
135 |
|
|
其他流動負債 |
138 |
154 |
|
|
流動負債合計 |
837 |
901 |
|
|
遞延負債和信用額度 |
|||
|
遞延所得稅負債，淨額 |
758 |
755 |
|
|
長期經營租賃負債 |
827 |
831 |
|
|
其他遞延負債和信用額度 |
564 |
565 |
|
|
長期借款，淨 |
3029 |
3,044 |
|
|
非控制權益 帶贖回特徵的利息 |
16 |
12 |
|
|
股權 |
|||
|
UScellular股東權益 |
|||
|
A類普通股和普通股，每股面值1.00美元 |
88 |
88 |
|
|
額外實收資本 |
1,740 |
1,726 |
|
|
庫藏股 |
(80) |
(80) |
|
|
保留盈餘 |
$7,709。該租約於2023年7月開始。與此租約相關的使用權資產和租賃負債將於2023年7月記錄。 |
2,892 |
|
|
UScellular股東總權益 |
4,658 |
4,626 |
|
|
非控制權益 |
15 |
16 |
|
|
股東權益總計 |
4,673 |
4,642 |
|
|
負債和股東權益總額 |
$ 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) |
|
|
美國無線電話股份公司 | |||
|
財務指標和調節 | |||
|
(未經審計) | |||
|
自由現金流 | |||
|
三個月之內結束 3月31日 |
|||
|
2024 |
2023 |
||
|
(金額單位：百萬美元) |
|||
|
經營活動現金流量（GAAP） |
$ 203 |
$ 41 |
|
|
現金支付的固定資產和設備增加額 |
(133) |
(196) |
|
|
現金支付的軟件許可協議 |
-9 |
(7) |
|
|
自由現金流（非公認會計原則）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 自由現金流是UScellular認爲對於投資者和其他使用其財務信息的用戶在評估流動性方面可能有用的非GAAP財務指標，具體包括在扣除現金支付的固定資產和設備增加額以及現金支付的軟件許可協議後，業務產生的淨現金數量。 |
|
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 |
|
|
淨利潤、調整後的淨利潤和調整後的營業利潤 | |||
|
下表將淨利潤、調整後的淨收益和調整後的營業利潤與相應的GAAP衡量指標進行了調整。 | |||
|
三個月之內結束 3月31日 |
|||
|
2024 |
2023 |
||
|
(金額單位：百萬美元) |
|||
|
淨利潤（GAAP） |
$ 24 |
$ 14 |
|
|
增加： |
|||
|
所得稅費用 |
28 |
11 |
|
|
營業稅前收入(GAAP) |
52 |
25 |
|
|
增加： |
|||
|
利息費用 |
43 |
47 |
|
|
折舊、攤銷和增值部分費用 |
165 |
170 |
|
|
EBITDA（非GAAP） |
260 |
242 |
|
|
加上或減去: |
|||
|
與戰略替代方案審查有關的費用 |
7 |
— |
|
|
資產處置收益(損失)，淨額 |
6 |
10 |
|
|
許可證銷售和交換的（收益）損失，淨額 |
(1) |
— |
|
|
調整後的EBITDA（非GAAP） |
272 |
252 |
|
|
扣除： |
|||
|
對非完全控制下企業的權益投資收益 |
42 |
44 |
|
|
利息和股息收入 |
2 |
2 |
|
|
調整後的營業利潤（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
消息來源 美國無線電話公司
