Quarterly ResultMay 8, 2026, 07:41 AM
TDS Q1 Net Income $129.3M; Acquires Granite State Communications
AI Summary
Telephone and Data Systems, Inc. (TDS) reported strong first quarter 2026 results, with net income attributable to common shareholders from continuing operations reaching $129.3 million ($1.11 diluted EPS), a significant improvement from a loss in the prior year. Total operating revenues from continuing operations increased 7% to $309.5 million. The company announced the acquisition of Granite State Communications, adding approximately 11,000 fiber service addresses, and reaffirmed 2026 guidance for both TDS Telecom and Array. Additionally, TDS submitted a non-binding proposal to acquire all outstanding Array Common Shares not owned by TDS.
Key Highlights
- TDS Q1 2026 net income attributable to common shareholders from continuing operations was $129.3 million.
- Diluted earnings per share from continuing operations for Q1 2026 was $1.11.
- Total operating revenues from continuing operations for Q1 2026 increased 7% to $309.5 million.
- TDS Telecom's Q1 revenues decreased 3% to $249.6 million, impacted by $6 million from divestitures.
- Array's Q1 site rental revenues grew 92% year-over-year to $51.0 million.
- TDS Telecom acquired Granite State Communications, adding 11,000 fiber service addresses.
- Array closed the sale of 700 MHz wireless spectrum licenses for $74.8 million.
- TDS Telecom expanded its marketable fiber service footprint to 1.1 million addresses.