Quarterly ResultAug 7, 2026, 08:04 AM
TDS Proposes to Acquire Remaining Array Shares; Q2 Net Income $281.1M
AI Summary
Telephone and Data Systems (TDS) reported a significant increase in net income attributable to common shareholders to $281.1 million for Q2 2026, primarily driven by substantial gains from Array's wireless spectrum sales. The company also announced a non-binding proposal to acquire all outstanding Array Common Shares not currently owned by TDS. Consolidated operating revenues grew by 4% to $309.3 million, and Adjusted EBITDA from continuing operations increased by 16% to $139.2 million for the quarter.
Key Highlights
- TDS proposed to acquire all outstanding Array Common Shares not owned by TDS.
- Q2 2026 net income attributable to common shareholders was $281.1 million.
- Consolidated operating revenues increased 4% to $309.3 million in Q2 2026.
- Consolidated Adjusted EBITDA from continuing operations rose 16% to $139.2 million in Q2 2026.
- Array recorded a $409.8 million gain on license sales in Q2 2026.
- Array received $1,167.6 million from Verizon and T-Mobile spectrum sales in Q2 2026.
- TDS Telecom operating revenues decreased 6% to $248.4 million in Q2 2026.
- TDS Telecom capital expenditures increased 99% to $179.2 million in Q2 2026.
Price Impact
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