U.S. Cellular (NYSE: USM) reported Q4 EPS of $0.23, $0.10 better than the analyst estimate of $0.13. Revenue for the quarter came in at $1.051 billion versus the consensus estimate of $1.05 billion.

"U.S. Cellular delivered strong results in 2018," said Kenneth R. Meyers, U.S. Cellular President and CEO. "We made significant progress on our strategic imperatives, protecting and growing our customer base while also increasing revenues and profitability, enabling us to enter 2019 in a position to invest in the future competitiveness of U.S. Cellular.

"We achieved our number one imperative to protect our customer base by increasing handset connections and customer loyalty. Continued adoption of unlimited plans helped drive an increase in average revenue per user. Inbound roaming revenues also increased. For the second year in a row, we tightly managed costs throughout the business, generating $200 million in savings over the two years. All in, Adjusted EBITDA for 2018 increased 17 percent over the previous year and the associated margin expanded by more than 300 basis points.

"As we move into 2019, we are in a strong position to support the increased level of investment needed to execute network enhancements including deployment of 5G technology. We will also continue our focus on strengthening the customer base, identifying new and emerging revenue streams, and reducing costs throughout the business. Additionally, we are expanding our footprint by edging out into Sioux City, Iowa and Northern Wisconsin."

GUIDANCE:

U.S. Cellular sees FY2019 revenue of $4.1-4.3 billion, versus the consensus of $4.03 billion.

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