UScellular, a leading wireless provider in the United States, released its financial results for the first quarter of 2024 on May 3, 2024. The company reported total operating revenues of $950 million for the quarter, with service revenues totaling $754 million. Net income attributable to UScellular shareholders was $18 million, with related diluted earnings per share at $0.20.
In a statement, Laurent C. Therivel, President and CEO of UScellular, highlighted the company's performance, stating, "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."
Despite some challenges in postpaid handset gross additions during the quarter, Therivel mentioned that the company has implemented promotional changes to enhance postpaid handset subscriber momentum while maintaining financial discipline.
UScellular also provided insights into its exploration of strategic alternatives, initiated in August 2023 in collaboration with Telephone and Data Systems, Inc. The review process is ongoing.
Looking ahead, UScellular reaffirmed its 2024 estimated results, emphasizing that such estimates represent management's view as of May 3, 2024. The company will continue to monitor and update these estimates as necessary.
Investors and stakeholders can access detailed financial and statistical information related to UScellular's performance through the company's investor relations website. Additionally, a conference call was held on May 3, 2024, to discuss the results, with an archived version available for those unable to participate live.
UScellular, based in Chicago, serves customers with 4.5 million retail connections across 21 states. As of March 31, 2024, the company employed 4,300 full- and part-time associates. For more information about UScellular and its services, visit their official website.
The company also provided a Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995, cautioning investors about the potential risks and uncertainties that could impact future performance. Interested parties are encouraged to review the company's Form 10-K for a comprehensive understanding of these factors.
For more information about UScellular, visit: www.uscellular.com.