UScellular’s (NYSE: USM) tower segment continued to show steady progress even as the company reported flat year-over-year results in its wireless services business. In its 4Q earnings call, the company reported wireless service revenues for full-year 2022 were $3.1 billion, flat with 2021 level. Adjusted EBITDA declined 9 percent YoY to $952 million. Most of the soft performance was attributed to reduced net adds, moves to premium plans among fewer customers, reduced roaming charges and increased involuntary churn. Nonetheless, ARPU and ARPA both increased 3-4 percent YoY reflecting the migration to higher priced calling plans.
The Chicago-based company operates in parts of 21 states covering 32 million people mainly in small towns and rural communities in the Midwest, mid-Atlantic, Northeast, Pacific Northwest, and northern California. At the end of 2022, UScellular had 5 million postpaid and prepaid connections. Continue Reading |
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