---
schema_version: "secwatch.filing_event.v1"
accession: "0001051512-23-000049"
form_type: "8-K"
ticker: "TDS"
cik: "0001051512"
company_name: "TELEPHONE & DATA SYSTEMS INC /DE/"
filed_at: "2023-08-04T23:59:59+00:00"
generated_at: "2026-06-12T05:33:17.979887+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# TDS explores strategic alternatives for UScellular; Q2 net loss $19M

## Summary
- Boards of TDS and UScellular initiate process to explore strategic alternatives for UScellular; no definitive timeline or outcome assured.
- Q2 total operating revenues $1,267M (down 6% YoY); net loss to common $19M vs income $18M last year.
- UScellular reduced debt $150M in Q2; fixed wireless customers grew 66% to 96,000; tower revenues up 10%.
- TDS Telecom added 66K fiber service addresses through June; raised full-year Adjusted EBITDA guidance to $270-300M.
- UScellular service revenue guidance narrowed to $3,025-3,075M; TDS Telecom capex guidance reduced to $475-525M.

## SEC filing metadata
- accession: 0001051512-23-000049
- form_type: 8-K
- ticker: TDS
- cik: 0001051512
- company_name: TELEPHONE & DATA SYSTEMS INC /DE/
- filed_at: 2023-08-04T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1051512/000105151223000049/0001051512-23-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1051512/000105151223000049/tds-20230804.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001051512-23-000049
- JSON: https://secwatch.observer/filing/0001051512-23-000049.json
- Plain text: https://secwatch.observer/filing/0001051512-23-000049.txt

## Key facts
- Earnings Releases
  TELEPHONE & DATA SYSTEMS INC /DE/ reported second quarter of 2023 results: revenue $1,267 million, net income $(19) million, EPS $(0.17).
  - Period: second quarter of 2023
  - Revenue: $1,267 million
  - Net income: $(19) million
  - EPS: $(0.17)
  - Result: reported results
  source text: TDS reports second quarter 2023 results CHICAGO (August 4, 2023) — Telephone and Data Systems, Inc. (NYSE:TDS) reported total operating revenues of $1,267 million for the second quarter of 2023, versus $1,349 million for the same period one year ago. Net income (loss) attributable to TDS common shareholders and related diluted earnings (loss) per share were $(19) million and $(0.17), respectively, for the second quarter of 2023 compared to $18 million and $0.15, respectively, in the same period one year ago.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051512/000105151223000049/0001051512-23-000049-index.htm
- Earnings Releases
  TELEPHONE & DATA SYSTEMS INC /DE/ updated its full-year 2023 guidance (raised).
  - Period: full-year 2023
  - Guidance: raised
  - Result: guidance update
  source text: 2023 Estimated Results UScellular Previous Current (Dollars in millions) Service revenues $3,050-$3,150 $3,025-$3,075 Adjusted OIBDA 1 $725-$875 $750-$850 Adjusted EBITDA 1 $875-$1,025 $925-$1,025 Capital expenditures $600-$700 Unchanged TDS Telecom Previous Current (Dollars in millions) Total operating revenues $1,030-$1,060 Unchanged Adjusted OIBDA 1 $260-$290 $270-$300 Adjusted EBITDA 1 $260-$290 $270-$300 Capital expenditures $500-$550 $475-$525
  evidence_url: https://www.sec.gov/Archives/edgar/data/1051512/000105151223000049/0001051512-23-000049-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.