In a move to stay current with legal standards and practices, United States Cellular Corporation (NYSE:USM) has revised its bylaws, effective immediately, as reported in a recent SEC filing. The amendments, adopted by the board on Monday, include updates to align with Delaware law and modify advance notice provisions for shareholder proposals and director nominations. According to InvestingPro data, USM operates with a market capitalization of $5.2 billion and maintains a FAIR overall financial health score.
The Chicago-based telecommunications service provider, which operates under the SIC code for Radio Telephone Communications, detailed changes to its procedural and disclosure requirements. These modifications are designed to streamline the process for stockholders when submitting director nominations and other business proposals.
While the company has not been profitable over the last twelve months, InvestingPro analysis indicates analysts expect profitability to return this year. Get access to more detailed insights and 12+ additional ProTips with an InvestingPro subscription.
The updated bylaws also contain technical adjustments and clarifications that do not alter the substantive governance of the company. U.S. Cellular, incorporated in Delaware with a fiscal year ending on December 31, has ensured that the changes are reflective of current best practices in corporate governance.
The company's securities, including common shares and various series of senior notes, are traded on the New York Stock Exchange under the symbols USM, UZD, UZE, and UZF respectively. The stock has shown remarkable strength this year, delivering a 46.9% year-to-date return, with analysts setting price targets ranging from $52 to $86 per share. Discover comprehensive valuation analysis and expert insights with InvestingPro's detailed research reports, available for over 1,400 US stocks.
In other recent news, TDS UScellular has reported noteworthy strategic advancements in its Q3 2024 earnings call. The company highlighted progress in spectrum monetization and enhancements in subscriber metrics, despite a 2% dip in service revenues. Adjusted EBITDA and OIBDA saw improvements, with a 1% and 3% increase respectively. The company also finalized the sale of OneNeck IT Solutions, positively impacting free cash flow and raised its profitability outlook.
In terms of subscriber metrics, UScellular reported fewer retail net losses and an increase in postpaid ARPU, indicating better customer retention and reduced churn. The company also confirmed the closure of its T-Mobile transaction by mid-2025. However, it reported a $136 million impairment loss on millimeter wave licenses due to operational challenges.
The company has revised its financial guidance for service revenues to $2.95 billion to $3.0 billion and capital expenditures to $250 million to $600 million. The company also aims to achieve 1.2 million marketable fiber service addresses and a 60% fiber service coverage.
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