United States Cellular Corporation (NYSE: USM) reported total operating revenues of $1,027 million for the second quarter of 2022, versus $1,014 million for the same period one year ago. Service revenues totaled $783 million, versus $774 million for the same period one year ago. Net income attributable to UScellular shareholders and related diluted earnings per share were $21 million and $0.25, respectively, for the second quarter of 2022 compared to $35 million and $0.39, respectively, in the same period one year ago.
“UScellular is continuing to execute on its growth strategy, resulting in increased retail service revenues and ARPU in the quarter,” said Laurent Therivel, UScellular President and CEO. “We are seeing nice momentum in a number of the growth areas of the business, including fixed wireless and our tower portfolio. Additionally, we are seeing promising early results from our recent moves in the marketplace, including our rate plan guarantee and our existing-same-as-new offers.
“Halfway through the year, I believe UScellular is well-positioned, and I thank all of our associates for their hard work.”
2022 Estimated Results
UScellular’s current estimates of full-year 2022 results are shown below. Such estimates represent management’s view as of August 4, 2022 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.
The following table reconciles EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measures, Net income or Income before income taxes. In providing 2022 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.