UScellular lowers Capex plan for 2023

United States Cellular Corporation (UScellular) has lowered its capital expenditure (Capex) to $600-700 million in 2023 as compared with $717 million in 2022.
UScellular in 2022
“In 2023, we will continue to focus on customer growth, cost optimization, and investing in 5G expansion,” Laurent Therivel, President and CEO of UScellular, said in a news statement.

UScellular is expecting service revenue of $3.050-$3.150 billion in 2023 as compared with $3.125 billion in 2022. UScellular reported total revenues of $4,169 million in 2022 vs $4,122 million in 2021. Net income of UScellular was $30 million vs $155 million for the year ended 2021.

UScellular has revealed that its ARPU increased to $50.60 in Q4 2022 from $50.21 in Q3 2022 and $50.07 in Q2 2022 and $49.71 in Q1 2021.

“In 2022 we focused on expanding ARPU, improving customer results, and maintaining financial discipline,” Laurent Therivel said in its earnings report.

“We have seen good momentum from investing in growth areas, as our fixed wireless connections increased by over 50 percent during 2022, and our tower revenues grew by double-digit percentage points in the year. Additionally, we remain on track with our multi-year network modernization and 5G programs.”