Telephone and Data Systems, Inc. (NYSE:TDS) Q1 2024 Earnings Conference Call May 3, 2024 10:00 AM ET

Company Participants

Colleen Thompson - Vice President, Corporate Relations
Vicki Villacrez - Executive Vice President & Chief Financial Officer
LT Therivel - President & Chief Executive Officer, UScellular
Doug Chambers - Executive Vice President, Chief Financial Officer & Treasurer
Michelle Brukwicki - Senior Vice President of Finance & Chief Financial Officer, TDS Telecom

Conference Call Participants

Ric Prentiss - Raymond James
Michael Rollins - Citi
Sergey Dluzhevskiy - GAMCO Investors

Operator

Ladies and gentlemen, thank you for standing by. My name is Desiree, and I will be your conference operator today. At this time, I would like to welcome everyone to the TDS and UScellular's First Quarter 2024 Operating Results Conference Call. [Operator Instructions]

I would now like to turn the conference over to Colleen Thompson, Vice President, Corporate Relations. Please go ahead.

Colleen Thompson

Good morning and thank you for joining us. We want to make you all aware of the presentation we have prepared to accompany our comments this morning, which you can find on the Investor Relations sections of the TDS and UScellular websites.

With me today and offering prepared comments are from TDS, Vicki Villacrez, Executive Vice President and Chief Financial Officer; from UScellular, LT Therivel, President and Chief Executive Officer; Doug Chambers, Executive Vice President, Chief Financial Officer and Treasurer; and from TDS Telecom, Michelle Brukwicki, Senior Vice President of Finance and Chief Financial Officer. This call is being simultaneously webcast on the TDS and UScellular Investor Relations website.

Please see the websites for slides referred to on this call, including non-GAAP reconciliations. We provide guidance for both adjusted operating income before depreciation and amortization or OIBDA, and adjusted earnings before interest, taxes, depreciation and amortization or EBITDA to highlight the contributions of UScellular's wireless partnerships. TDS and UScellular filed their SEC Forms 8-K, including the press releases and our 10-Ks earlier this morning.

As shown on slide 2, the information set forth in the presentation and discussed during this call contains statements about expected future events and financial results that are forward-looking and subject to risks and uncertainties. Please review the Safe Harbor paragraphs in our press releases and the extended version included in our SEC filings.

And with that, I will now turn the call over to Vicki Villacrez. Vicki?

Vicki Villacrez

Okay. Thank you, Colleen, and good morning, everyone. Before we talk about the results for the quarter, I want to once again reiterate that as announced on August 4th last year, we embarked on a review of strategic alternatives at UScellular. I'm unable to comment on the process at this time except to say that it remains active and ongoing. Management of TDS and UScellular along with both Boards, remain committed to a path that is in the best interest of the company and our shareholders. Given the nature of the process, we don't expect to have updates until it's concluded.