Mission Statement, Vision, & Core Values (2024) of Telephone and Data Systems, Inc. (TDS)

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An Overview of Telephone and Data Systems, Inc. (TDS)

General Overview of Telephone and Data Systems, Inc. (TDS)

Telephone and Data Systems, Inc. (TDS), founded in 1968, is a diversified telecommunications company headquartered in Chicago, Illinois. TDS operates through its subsidiaries, including UScellular, one of the largest wireless telecommunications providers in the United States, and TDS Telecom, which provides broadband and other communication services. In 2024, TDS serves approximately 5 million customers across its various service lines, including wireless, broadband, and voice services, focusing on both residential and business markets.

As of 2024, TDS reported total sales of approximately $3.7 billion, with significant contributions from its wireless and broadband segments. The company has invested heavily in expanding its 5G network and fiber broadband services to meet increasing consumer demand for high-speed internet and mobile connectivity.

Company's Financial Performance in the Latest Financial Reports

In the most recent financial report for the third quarter of 2024, TDS reported total operating revenues of $1.224 billion, a decrease of 4% compared to $1.278 billion in the same period of 2023. For the nine months ended September 30, 2024, total operating revenues were reported at $3.724 billion, down from $3.848 billion in 2023, reflecting a 3% decline.

Metrics Q3 2024 Q3 2023 9M 2024 9M 2023
Total Operating Revenues $1.224 billion $1.278 billion $3.724 billion $3.848 billion
Net Income (Loss) $(79) million $4 million $(34) million $16 million
Adjusted EBITDA $349 million $328 million $1.073 billion $956 million
Capital Expenditures $199 million $285 million $663 million $906 million

Key drivers of revenue included service revenues from UScellular, which totaled $922 million, down 4% from the prior year. TDS Telecom reported operating revenues of $263 million, reflecting a 2% increase year-over-year. The company's net income attributable to TDS common shareholders was $(83) million for the third quarter of 2024, compared to a profit of $17 million in the same quarter of 2023. Adjusted EBITDA increased by 6% to $349 million, driven by cost management strategies despite the decline in revenues.

Introduction to TDS as a Leader in the Industry

Telephone and Data Systems, Inc. is recognized as a leader in the telecommunications industry, particularly in the wireless and broadband sectors. The company has consistently innovated to enhance its service offerings, focusing on expanding its 5G network and fiber broadband capabilities. TDS has positioned itself strategically to respond to the growing demand for high-speed connectivity, which is crucial in today's digital age.

The company's commitment to quality service and customer satisfaction has solidified its standing as a reliable provider. With ongoing investments in technology and infrastructure, TDS is poised to remain competitive in an increasingly challenging market. For further insights into TDS's operational strategies and market position, please refer to the detailed sections below.




Mission Statement of Telephone and Data Systems, Inc. (TDS)

Mission Statement Overview

The mission statement of Telephone and Data Systems, Inc. (TDS) serves as a guiding principle for the company's operations and strategic direction. It articulates the organization's purpose, the value it brings to its customers, and its commitment to its stakeholders. As of 2024, TDS emphasizes its dedication to delivering high-quality telecommunications services and innovative technology solutions.

Core Component 1: Customer Commitment

TDS is committed to providing exceptional service and value to its customers. This commitment is reflected in its operational performance, with 3.1 million total connections served across various segments, including wireless, broadband, and voice communications as of September 30, 2024.

Core Component 2: Innovation and Quality

The company emphasizes innovation in its offerings, focusing on the deployment of advanced technologies such as 5G. TDS Telecom's capital expenditures for 2024 are projected to be between $310 million and $340 million, directed towards expanding fiber deployment and enhancing existing infrastructure. Additionally, TDS offers 1Gig+ service to 74% of its total footprint.

Core Component 3: Community Engagement

TDS is dedicated to supporting the communities it serves, focusing on sustainable practices and social responsibility. The company employs approximately 3,400 associates and has increased its service addresses by 9% year-over-year to 1.8 million. This growth underscores TDS's commitment to community development and engagement.

Financial Metrics Q3 2024 Q3 2023
Operating Revenues $1,224 million $1,278 million
Net Income (Loss) $(79) million $4 million
Capital Expenditures $199 million $285 million
Basic Earnings (Loss) per Share $(0.73) $(0.16)
Total Assets $13,726 million $14,414 million

TDS's focus on its mission statement components not only demonstrates its strategic priorities but also reflects its ongoing commitment to enhancing customer experience, driving innovation, and contributing positively to the communities it serves.




Vision Statement of Telephone and Data Systems, Inc. (TDS)

Vision Statement Overview

The vision statement of Telephone and Data Systems, Inc. (TDS) as of 2024 emphasizes the company's commitment to delivering high-quality telecommunications services and innovative solutions that enhance the customer experience. TDS aims to be a leading provider of integrated communication services, focusing on the expansion of its broadband capabilities and the deployment of advanced technologies.

Customer-Centric Approach

TDS's vision underscores a strong customer-centric philosophy, which drives its operational strategies. The company aims to provide exceptional service to its customers, ensuring that their needs are met through reliable and efficient communication solutions.

  • As of September 30, 2024, TDS Telecom serves approximately 1.1 million connections across 32 states.
  • Customer satisfaction scores have consistently improved, with a focus on enhancing service quality and response times.

Innovation and Technology Advancement

Innovation is a cornerstone of TDS's vision, with a significant emphasis on leveraging technology to improve service delivery. TDS is committed to expanding its broadband infrastructure and enhancing its product offerings through the latest technological advancements.

Year Capital Expenditures (in millions) Focus Areas
2024 $550 - $600 5G deployment, fiber expansion, IT investments
2023 $434 Network upgrades, service enhancements

Sustainable Growth and Community Engagement

TDS envisions sustainable growth that aligns with community needs and environmental responsibility. The company is dedicated to expanding its reach while ensuring that its operations contribute positively to the communities it serves.

  • In 2024, TDS intends to continue expanding fiber deployment, which serves to enhance local broadband capabilities.
  • TDS Telecom increased its service addresses by 9% year-over-year to 1.8 million as of September 30, 2024.

Commitment to Employee Development

Recognizing that employees are vital to its success, TDS's vision includes a commitment to workforce development and engagement. The company aims to foster a culture of excellence and innovation among its employees.

  • As of September 30, 2024, TDS employs approximately 3,400 associates.
  • Employee training and development programs have been enhanced to align with the company's strategic goals.

Financial Performance and Future Outlook

The financial performance of TDS reflects its strategic vision. The company reported total operating revenues of $3,724 million for the nine months ended September 30, 2024, compared to $3,848 million for the same period in 2023.

Financial Metric 2024 (9 Months) 2023 (9 Months)
Total Operating Revenues $3,724 million $3,848 million
Net Income (Loss) $(34) million $16 million
Adjusted EBITDA $1,073 million $956 million

Strategic Partnerships and Collaborations

TDS recognizes the importance of strategic partnerships in achieving its vision. Collaborations with other technology and telecommunications companies are essential for expanding service offerings and improving operational efficiencies.

  • In 2024, TDS announced a significant agreement to divest its wireless operations to T-Mobile for $4,400 million, enhancing its focus on core telecommunications services.



Core Values of Telephone and Data Systems, Inc. (TDS)

Integrity

The core value of integrity at Telephone and Data Systems, Inc. (TDS) emphasizes transparency, honesty, and accountability in all operations. This value is crucial for maintaining trust with customers, shareholders, and employees.

TDS has demonstrated its commitment to integrity through its adherence to high ethical standards and compliance with regulations. In 2024, TDS reported a net loss attributable to common shareholders of $83 million for the third quarter, which included a non-cash impairment charge of $136 million related to the wireless spectrum licenses. This reflects TDS's transparency in financial reporting, ensuring stakeholders are informed of significant financial impacts.

Customer Commitment

TDS values its customers by focusing on delivering exceptional service and support. In 2024, TDS Telecom's capital expenditures are projected to be between $310 million and $340 million, aimed at expanding fiber deployment and improving broadband services.

Additionally, TDS has committed to enhancing its network capabilities, particularly through the deployment of 5G technology. As of September 30, 2024, TDS recorded 4,407 owned towers and 2,418 colocations, which underscores its dedication to improving service availability and reliability.

Innovation

Innovation is a core value that drives TDS to continuously enhance its services and technologies. In 2024, the company has focused on investing in information technology and expanding its 5G network capabilities.

For instance, TDS has allocated substantial resources to capital expenditures, including $415 million by UScellular for network enhancements. This commitment to innovation is also reflected in the increased average price of new smartphone sales, indicating a focus on offering advanced technology to customers.

Teamwork

Teamwork is essential at TDS, fostering a collaborative environment that enhances organizational effectiveness. The company’s workforce strategies are aligned with its operational goals to ensure cohesive teamwork across departments.

As of September 30, 2024, TDS's selling, general, and administrative expenses decreased, reflecting improved operational efficiency likely due to enhanced teamwork and collaboration. This reduction in costs supports TDS’s ability to allocate resources effectively, further promoting teamwork within the organization.

Community Engagement

TDS is committed to making a positive impact in the communities it serves. This core value is reflected in its initiatives aimed at expanding broadband access, particularly in underserved areas.

In 2024, TDS's capital expenditures for broadband growth are expected to focus on maintaining and enhancing existing infrastructure, demonstrating its commitment to community development. The company’s focus on community engagement is integral to its operational framework and long-term sustainability strategies.

Core Value Description 2024 Initiatives
Integrity Transparency and accountability in operations Reported a net loss of $83 million, including a $136 million impairment charge
Customer Commitment Focus on delivering exceptional service $310-$340 million for fiber deployment and 5G enhancements
Innovation Continuous enhancement of services and technologies $415 million for network enhancements and increased smartphone sales
Teamwork Fostering a collaborative environment Reduced selling, general, and administrative expenses
Community Engagement Positive impact on local communities Investments in broadband access and infrastructure

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Article updated on 8 Nov 2024

Resources:

  • Telephone and Data Systems, Inc. (TDS) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Telephone and Data Systems, Inc. (TDS)' financial performance, including balance sheets, income statements, and cash flow statements.
  • SEC Filings – View Telephone and Data Systems, Inc. (TDS)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.