TELEPHONE & DATA SYSTEMS INC /DE/

Telephone and Data Systems, Inc. (TDS) reported third quarter 2026 operating results, with total operating revenues of $306.7 million, a 1% decrease year-over-year. Net income attributable to common shareholders was $29.6 million, or $0.26 per diluted share. The company highlighted progress in its TDS Telecom segment, expanding fiber service footprint and net adds, while Array saw a 14% increase in site rental revenues. Additionally, the TDS Board authorized a new $250 million share repurchase plan, and TDS Telecom updated its full-year 2026 financial guidance.

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.

Telephone and Data Systems, Inc. (TDS) reported strong second quarter 2026 results, with net income attributable to common shareholders soaring to $281.1 million and diluted EPS reaching $2.24, a significant turnaround from the prior year. The positive performance was driven by strategic actions at its subsidiary Array, which completed $1.16 billion in spectrum sales and issued a special dividend of $11 per common share. Both TDS Telecom and Array updated their 2026 guidance, with TDS Telecom increasing its fiber service address target and Array raising its Adjusted EBITDA outlook, while TDS also proposed to acquire all outstanding Array Common Shares not already owned.

Array Digital Infrastructure, a subsidiary of Telephone and Data Systems (TDS), completed the previously announced sale of select spectrum assets to Verizon Communications for $1.0 billion in cash. Following this transaction, Array's Board of Directors declared a special cash dividend of $11.00 per share for holders of its Common Stock and Series A Common Stock. The dividend is payable on June 25, 2026, to stockholders of record as of June 11, 2026. TDS holds a significant stake in Array, including over 70 million shares across both common stock classes.

Telephone & Data Systems reported a net income of $177.0 million for the first quarter of 2026, a significant increase from $11.9 million in the prior year, primarily driven by higher operating revenues and lower operating expenses, largely due to Array's strategic divestments. The company also announced a non-binding proposal to acquire all outstanding Array Common Shares not already owned by TDS. Array's spectrum sales and the T-Mobile Master License Agreement significantly boosted its financial performance.

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.

Telephone and Data Systems, Inc. (TDS) has submitted a proposal to acquire all outstanding common shares of Array Digital Infrastructure, Inc. (Array) not currently owned by TDS. The all-stock transaction proposes an exchange ratio of 0.86 TDS Common Shares for each Array Common Share, contingent on Array's previously announced spectrum sales closing and a $10.40 per share dividend payment. TDS, which currently owns a significant stake in Array, believes the merger will streamline corporate structure, enhance capital flexibility, and provide Array stockholders with continued interest in the tower business and exposure to TDS's growing fiber business.