Earnings summaries and quarterly performance for TELEPHONE & DATA SYSTEMS INC /DE/.
Executive leadership at TELEPHONE & DATA SYSTEMS INC /DE/.
Walter C. D. Carlson
Detailed
Chair of the Board, President and Chief Executive Officer
CEO
DW
Douglas W. Chambers
Detailed
Interim President and Chief Executive Officer, UScellular (contingent upon closing)
JW
James W. Butman
Detailed
President and Chief Executive Officer, TDS Telecom
JR
Joseph R. Hanley
Detailed
Senior Vice President—Strategy and Corporate Development
LT
LeRoy T. Carlson, Jr.
Detailed
Vice Chair
VL
Vicki L. Villacrez
Detailed
Executive Vice President and Chief Financial Officer
Board of directors at TELEPHONE & DATA SYSTEMS INC /DE/.
CD
Christopher D. O'Leary
Detailed
Lead Independent Director
DS
Dirk S. Woessner
Detailed
Director
GW
George W. Off
Detailed
Director
KD
Kimberly D. Dixon
Detailed
Director
LG
Letitia G. Carlson, MD
Detailed
Director
NB
Napoleon B. Rutledge, Jr.
Detailed
Director
PE
Prudence E. Carlson
Detailed
Director
WO
Wade Oosterman
Detailed
Director
Research analysts who have asked questions during TELEPHONE & DATA SYSTEMS INC /DE/ earnings calls.
RP
Ric Prentiss
Raymond James
6 questions for TDS
Also covers: AD, AMT, ATNI +10 more
SD
Sergey Dluzhevskiy
GAMCO Investors
6 questions for TDS
Also covers: AD, USM
SP
Sebastiano Petti
JPMorgan Chase & Co.
4 questions for TDS
Also covers: AD, ATUS, BCE +16 more
MR
Michael Rollins
Citigroup
3 questions for TDS
Also covers: AD, AMT, ATUS +18 more
DB
David Barden
Bank of America
2 questions for TDS
Also covers: AD, AMT, BCE +12 more
Vikash Harlalka
New Street Research
2 questions for TDS
Also covers: ATUS, CHTR, OPTU +2 more
JA
Jonathan Atkin
RBC Capital Markets
1 question for TDS
Also covers: AMT, CCI, DBRG +6 more
Recent press releases and 8-K filings for TDS.
TDS Reports Q4 2025 Results, Details Strategic Progress and 2026 Outlook
TDS
Guidance Update
Share Buyback
New Projects/Investments
- TDS completed a transformative 2025, divesting its wireless operations and strengthening its balance sheet, which positioned Array as a tower company and enabled support for TDS Telecom's fiber expansion.
- In January 2026, Array closed a spectrum sale to AT&T for $1.018 billion, resulting in a special dividend of $10.25 per share paid on February 2, from which TDS received $726 million. TDS also repaid $150 million in term loan debt.
- TDS invested $67 million to repurchase 1.8 million common shares in Q4 2025, bringing the total for 2025 to 2.8 million shares, with $524 million remaining on the share repurchase authorization as of the end of 2025.
- TDS Telecom increased its long-term fiber address goal from 1.8 million to 2.1 million and targets delivering 200,000-250,000 new marketable fiber addresses in 2026.
- For 2026, TDS projects Adjusted EBITDA between $310 million-$350 million. Array forecasts total operating revenue and Adjusted EBITDA both between $200 million-$215 million, with capital expenditures of $25 million-$35 million.
7 days ago
TDS Reports Q4 2025 Earnings, Details Spectrum Sale, Fiber Expansion, and 2026 Guidance
TDS
Earnings
Guidance Update
New Projects/Investments
- Array closed its spectrum sale to AT&T for $1.018 billion in January 2026, leading to a $10.25 per share special dividend from Array, of which TDS received $726 million.
- TDS repaid $150 million of outstanding term loan debt in January 2026 and increased its long-term fiber service address target from 1.8 million to 2.1 million, identifying 300,000 new edge-out opportunities.
- The company repurchased 1.8 million TDS common shares for $67 million in Q4 2025, bringing the total for 2025 to 2.8 million shares, with $524 million remaining on the share repurchase authorization.
- For 2026, TDS Telecom forecasts total revenues of $1.015 billion-$1.055 billion, Adjusted EBITDA of $310 million-$350 million, and capital expenditures of $550 million-$600 million.
- Array Digital Infrastructure projects 2026 total operating revenue and Adjusted EBITDA between $200 million-$215 million, with capital expenditures of $25 million-$35 million, notably excluding DISH revenues due to an ongoing dispute.
7 days ago
TDS and Array Report Q4 2025 Results, Announce Spectrum Sale Proceeds, Increased Fiber Goals, and 2026 Guidance
TDS
Earnings
Guidance Update
M&A
- TDS and Array completed a transformative 2025, including the divestiture of wireless operations and the sale of spectrum to AT&T for $1.018 billion in January 2026, with TDS receiving $726 million.
- TDS repaid $150 million in term loan debt and repurchased 2.8 million common shares in 2025, with $524 million remaining on its share repurchase authorization as of the end of 2025.
- TDS Telecom delivered 140,000 new marketable fiber addresses and 45,000 residential fiber net adds in 2025, and increased its long-term fiber address goal from 1.8 million to 2.1 million.
- For 2026, TDS Telecom targets 200,000-250,000 new marketable fiber addresses and projects Adjusted EBITDA between $310 million-$350 million and capital expenditures of $550 million-$600 million.
- Array Digital Infrastructure forecasts 2026 total operating revenue and Adjusted EBITDA between $200 million-$215 million each, with capital expenditures of $25 million-$35 million, notably excluding DISH revenues.
7 days ago
TDS Reports Q4 2025 Results, Highlights Fiber Growth and Spectrum Monetization
TDS
Earnings
Guidance Update
M&A
- TDS Telecom grew its fiber business to 1.07 million total marketable fiber service addresses by Q4 2025, delivering 140,000 new marketable fiber addresses for the full year. The company also raised its long-term goal for marketable fiber service addresses to 2.1 million.
- Array closed the sale of $1.018 billion in spectrum and received $726 million in a special dividend, with agreements to monetize over 70% of its total spectrum holdings. Array reported 4,450 owned towers and 4,572 colocations as of December 31, 2025.
- For 2026, TDS Telecom expects total operating revenues between $1,015 million and $1,055 million and Adjusted EBITDA between $310 million and $350 million. Array anticipates total operating revenues and Adjusted EBITDA both in the range of $200 million to $215 million.
- In capital allocation activities, TDS repaid $150 million of bank debt and repurchased 1.8 million TDS shares in Q4 2025.
7 days ago
TDS Reports Q4 and Full Year 2025 Results and Provides 2026 Guidance
TDS
Earnings
Guidance Update
Share Buyback
- TDS reported total operating revenues from continuing operations of $330.7 million for Q4 2025 and $1,228.2 million for the full year 2025, with diluted earnings per share from continuing operations of $0.32 and $0.39 for the respective periods.
- TDS Telecom increased its long-term marketable fiber service address goal to 2.1 million and added 44,900 fiber net additions in 2025.
- Array closed the sale of wireless spectrum with AT&T for $1.018 billion in January 2026 and paid a $10.25 per share special dividend in February 2026.
- TDS repurchased 1,765,863 Common Shares for $67.4 million in Q4 2025 and repaid $150 million of Export Development Canada debt in January 2026.
- For 2026, TDS Telecom estimates total operating revenues between $1,015-$1,055 million, and Array estimates total operating revenues between $200-$215 million.
8 days ago
TDS Reports Fourth Quarter and Full-Year 2025 Results, Provides 2026 Guidance
TDS
Earnings
Guidance Update
Share Buyback
- For the fourth quarter of 2025, TDS reported total operating revenues from continuing operations of $330.7 million and diluted earnings per share from continuing operations of $0.32. For the full year 2025, total operating revenues from continuing operations were $1,228.2 million and diluted earnings per share from continuing operations were $0.39.
- TDS repurchased 1,765,863 Common Shares for $67.4 million in the fourth quarter of 2025 and repaid $150 million of Export Development Canada debt in January 2026.
- TDS Telecom increased its long-term marketable fiber service address goal to 2.1 million, an increase of 300,000 addresses, and deployed 140,000 new marketable fiber service addresses in 2025.
- Array grew site rental revenues 51% year over year, closed on the sale of wireless spectrum with AT&T for $1.018 billion on January 13, 2026, and paid a $10.25 per share special dividend on February 2, 2026.
- For 2026, TDS Telecom estimates total operating revenues between $1,015 million and $1,055 million, and Array estimates total operating revenues between $200 million and $215 million.
8 days ago
TDS Amends Credit Agreement, Extends Maturity, and Increases Debt Capacity
TDS
Debt Issuance
- TELEPHONE AND DATA SYSTEMS, INC. (TDS) entered into a Fourth Amendment to its First Amended and Restated Credit Agreement on December 8, 2025.
- The amendment extends the maturity date of the credit agreement to the fifth anniversary of the Effective Date.
- The capacity for secured debt at TDS, and secured and unsecured debt at TDS's subsidiaries (including Array), was increased by an aggregate amount of $300 million.
- The credit spread adjustment previously applicable to the Term SOFR interest rate was removed.
- The total commitment under the amended credit agreement is $400,000,000.00.
Dec 12, 2025, 2:02 PM
TDS Reports Q3 2025 Results, Share Repurchase Increase, and Fiber Milestones
TDS
Share Buyback
New Projects/Investments
M&A
- TDS received a $1.6 billion special dividend from Array in August 2025, which facilitated substantial debt paydown and supports the fiber expansion program. Concurrently, TDS's board authorized a $500 million increase to its existing share repurchase program in Q3 2025.
- TDS Telecom achieved a significant milestone of 1 million fiber addresses in Q3 2025, delivering 42,000 fiber addresses in the quarter and progressing towards its goal of 150,000 service addresses for the full year.
- Array Digital Infrastructure, now an independent tower company, has monetized 70% of its spectrum holdings to date, including pending agreements with AT&T and Verizon for $1 billion each.
- In Q3 2025, total operating revenues for TDS were down 3% year-over-year, and Adjusted EBITDA also decreased by 3%, primarily impacted by divestitures and declines in legacy revenue streams.
Nov 7, 2025, 3:00 PM
TDS Reports Q3 2025 Results, Highlights T-Mobile Transaction Close and Fiber Expansion
TDS
Earnings
M&A
New Projects/Investments
- TDS successfully closed the T-Mobile transaction on August 1, 2025, repaid substantial debt, and paid a $23 per share special dividend on August 19, 2025.
- TDS Telecom deployed 42,000 new marketable fiber addresses in Q3 2025, exceeding 1 million total fiber addresses during the quarter, and reported 11,200 net broadband adds from fiber markets.
- For Q3 2025, TDS Telecom's total operating revenues were $255 million, a 3% decrease year-over-year, and Adjusted EBITDA was $80 million, also a 3% decrease.
- Array Digital Infrastructure reported total operating revenues of $47,119 thousand in Q3 2025, an 83% increase from Q3 2024, and Adjusted EBITDA of $85,081 thousand.
- TDS Telecom's 2025 guidance for total operating revenues ($1,030-$1,050 million) and Adjusted EBITDA ($320-$350 million) remains unchanged.
Nov 7, 2025, 3:00 PM
TDS Reports Third Quarter 2025 Results and Announces New Share Repurchase Program
TDS
Earnings
Share Buyback
CEO Change
- For the third quarter of 2025, TDS reported total operating revenues from continuing operations of $308.5 million, a decrease from $327.5 million in the same period one year ago. Net income attributable to TDS common shareholders was $40.2 million ($0.33 diluted EPS), significantly improved from a net loss of $(100.4) million ($(0.88) diluted EPS) in Q3 2024.
- The Board approved a new $500 million share repurchase program, which is additive to the current authorization, and the company repurchased over one million TDS Common Shares during Q3 2025.
- TDS Telecom continued its fiber broadband strategy, delivering 42,000 marketable fiber services addresses and achieving 11,200 residential fiber net additions in Q3 2025.
- Array closed the sale of wireless operations and select spectrum assets to T-Mobile on August 1, 2025, and subsequently paid a $23 per share special dividend on August 19, 2025.
- Anthony Carlson was appointed President and CEO of Array, with an effective date of November 16, 2025.
Nov 7, 2025, 12:38 PM
Quarterly earnings call transcripts for TELEPHONE & DATA SYSTEMS INC /DE/.
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