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United States Cellular Corp USM Stock Quote

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Morningstar‘s Stock Analysis USM

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U.S. Cellular Delivers Little Customer Traction in Q3 While Financials Deteriorate

Matthew Dolgin, CFA Equity Analyst

Analyst Note

| Matthew Dolgin, CFA |

Although U.S. Cellular’s management highlighted some positive signs it believes show its strategy to improve performance with postpaid wireless customers is on the right track, the results don’t yet show it. Worse, expenses associated with these customers skyrocketed. Our view of U.S. Cellular has not changed—we expect a reduction in the level of customer losses rather than growth. However, we’re revising our near- and long-term projections for profitability, resulting in our fair value estimate dropping to $28 from $32.

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Key Statistics USM

Company Profile USM

Business Description

U.S. Cellular is a regional wireless carrier that serves about 5 million customers spread across four major geographic clusters: the Midwest, mid-Atlantic, New England, and the Pacific Northwest. These service territories encompass a total population of about 32 million people. The vast majority of the markets the firm serves are rural or second/third-tier cities, with only the greater Milwaukee and Oklahoma City regions boasting populations greater than 1 million. U.S. Cellular also owns a 5.5% stake in Verizon Wireless’ Los Angeles operations and, unlike its wireless carrier peers, owns most of its own towers.

8410 West Bryn Mawr
Chicago, IL, 60631
T +1 773 399-8900
Industry Telecom Services
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 4,900