Telephone & Data Systems Inc. (NYSE:TDS) Q2 2020 Earnings Conference Call - Final Transcript

Aug 07, 2020 • 10:00 am ET

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Telephone & Data Systems Inc. (NYSE:TDS) Q2 2020 Earnings Conference Call - Final Transcript

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Executive
Kenneth R. Meyers

exceptionally talented management team and the most customer-focused associates in the industry, and now has a new leader with the skills and experience to move the company forward.

As I look back at the first half of 2020, I'm thankful that I can report that we've survived the most unprecedented events in our country's history, and we are in a strong position going forward, thanks in large part to our resilient, focused and caring organization. And before I turn the call over for the last time, I want to thank all of our associates for their contributions in serving our customers. I'm humbled to have worked with you and wish each of you much success going forward. LT, it's all yours.

Executive
Laurent C. Therivel

Thanks, Ken. And Ken, thanks for all the sound advice and counsel that you've provided during this transition. Good morning, everybody. It's a pleasure to be with you. Given that I started this job just on July 1, I'm going to share some of my initial impressions, but for the most part, I'm going to be in listen mode today. Doug Chambers is going to walk you through our results for the quarter. And this has been a challenging few months for everyone. But I have to say I'm proud to be part of this industry, and I'm particularly proud to be part of this company. The pandemic has validated that what we do is truly essential: connecting family, friends and commerce. And this is a particularly exciting time to be in wireless, especially as we embark on 5G. As you know, we've already launched some initial markets on 5G, and we're going to provide some more details on that later in the call. My first month at U.S. Cellular has been full of learning and listening. And I feel it's been a seamless and effective transition.

Over the past few weeks, I've traveled to several of our various locations, met with many of our associates, of course, in the safest manner possible. And I'm consistently inspired by our customer-centric culture and the high levels of engagement that we have across the entire company. The flexibility and resiliency that our associates have displayed throughout this pandemic are tremendous. And it's clear to me that our focus on the customer and our high-quality network are critical to growing this business. Speaking of network, I'm pleased to report that our network strength was recently recognized as we won another J.D. Power award. This recognition validates for me that our network modernization strategy is working. I want to talk for just a minute about why I joined this company. It's a strong company, tremendous corporate culture.

It's also a company with incredibly valuable assets, spectrum, towers, distribution. And our assets have both significant financial value, plant operational importance. And my goal is to build on that strong culture and that strong assets in order to drive strong growth. Let me be very clear. I was hired to lead U.S. Cellular into the