Telephone & Data Systems (TDS) FY2023 results: revenue $1.4 billion, down 75.0% on the year
Telephone & Data Systems Inc. (TDS) reported revenue of $1.4 billion for fiscal 2023, the year ended 31 December 2023, down 75.0% on the year before. Net income was -$500 million, and diluted earnings per share $-5.06. The figures are the company's own, from the 10-K it filed with the SEC on 16 February 2024.
Revenue
$1.4 billion
-75.0% on the year
FY2016FY2023
Operating margin
-50.4%
2.3% a year earlier
FY2016FY2023
Net income
-$500 million
FY2016FY2023
Diluted EPS
-$5.06
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
1,142
1,155
1,103
-1.1%
Capital expenditure
643
1,161
1,131
-44.6%
Free cash flow
499
-6.0
-28.0
Free cash flow margin
36.8%
-0.1%
-0.5%
Cash from investing
-1,327
-1,783
-2,462
Cash from financing
56.0
613
321
-90.9%
Depreciation and amortisation
270
882
851
-69.3%
Share-based compensation
19.6
42.0
49.0
-53.4%
Buybacks
5.8
40.0
8.0
-85.5%
Dividends paid
153
151
119
+1.1%
Dividend per share
$0.74
$0.72
$0.70
+2.8%
Diluted shares, weighted
113m
114m
116m
-0.9%
Shares outstanding at period end
113m
112m
115m
+0.9%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
5,202
5,849
5,927
-11.1%
Non-controlling interest
794
754
807
+5.3%
Redeemable equity
6.0
6.0
6.0
0.0%
Debt
4,080
3,750
2,928
+8.8%
Operating lease liabilities
890
908
960
-2.0%
Other liabilities
n/a
3,283
2,865
Total liabilities and equity
8,135
14,550
13,493
-44.1%
Fixed assets
5,062
4,760
4,361
+6.3%
Goodwill
0.0
547
547
Intangible assets
183
204
197
-10.3%
Investments
n/a
n/a
0.0
Cash and equivalents
236
360
367
-34.4%
Receivables
992
1,069
1,058
-7.2%
Inventory
208
268
178
-22.4%
Other assets
1,454
7,342
6,785
-80.2%
Total assets
8,135
14,550
13,493
-44.1%
10-K for the year ended 31 December 2023, filed 16 February 2024: the filing.