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Telephone & Data Systems Inc. (TDS)
NYSE:TDS
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
-0.44Last Year’s EPS
-0.09Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a predominantly positive strategic transformation: large spectrum transactions and special dividends materially strengthened the balance sheet, enabling aggressive expansion of the fiber program (raising long-term addresses to 2.1M) and standing up a focused tower business with solid near-term leasing momentum. Q4 operational improvements (record crew counts, strongest build quarter since 2023, sequential and year-over-year fiber growth) support the constructive outlook. However, the company faces several execution and market risks: a missed 2025 fiber goal, revenue and adjusted EBITDA headwinds from divestitures and secular declines in legacy services, material uncertainty tied to the DISH MLA and T-Mobile MLA outcomes, elevated transition costs at Array, and significantly higher 2026 CapEx that requires disciplined execution. On balance, the strategic wins, liquidity events, and clear growth plans outweigh the operational and regulatory uncertainties, producing an optimistic but execution-dependent outlook.Company Guidance
Major Spectrum Transaction and Strong Balance Sheet Actions
Array closed the AT&T spectrum sale for $1,018,000,000 (closed 01/13/2026) and declared a special dividend of approximately $726,000,000; TDS repaid the last $150,000,000 of term loan debt in January 2026, materially strengthening the capital structure and providing cash flexibility for fiber investment and capital allocation.
Share Repurchases and Capital Allocation Capacity
TDS repurchased $67,000,000 of common stock in the quarter (1.8 million shares) and totaled 2.8 million shares repurchased in 2025. The Board authorized a $500,000,000 increase to the buyback program; $524,000,000 remained under authorization at year-end, supporting shareholder return optionality.
Accelerating Fiber Builds and Raised Long-Term Target
TDS added 58,000 new marketable fiber addresses in Q4 (up 39% year-over-year) and delivered 140,000 new marketable fiber addresses in full-year 2025 (100,000 in H2), prompting an increase in the long-term fiber target from 1,800,000 to 2,100,000 addresses after identifying ~300,000 additional edge-out opportunities across ~50 new communities.
Residential Fiber Subscriber Growth and ARPC Improvement
Residential fiber net adds were approximately 15,000 in Q4 (up 11% year-over-year), totaling ~45,000 residential fiber net adds for 2025; average residential revenue per connection rose ~2% year-over-year, while fiber connections have nearly doubled over the last three years.
2026 Fiber Build Ambition and CapEx Commitment
TDS set a 2026 target to deliver 200,000–250,000 new marketable fiber addresses and forecasted telecom capital expenditures of $550,000,000–$600,000,000 (up from $406,000,000 in 2025) to support EACAM builds, expansion markets, and new edge-out opportunities.
Improved Quarterly Profitability Metrics at TDS
TDS reported a 4% reduction in cash expenses in the quarter and adjusted EBITDA improvement of 6% in Q4 (despite full-year adjusted EBITDA decline), reflecting benefits from transformation efforts and stronger execution in the second half of 2025.
Array Tower Business Momentum and Spectrum Monetization Progress
Array reports a portfolio of >4,400 towers (~1/3 with no competing site within two miles) and has reached agreements to monetize ~70% of spectrum holdings (including ~ $1B-level agreements with Verizon and AT&T). Q4 cash site rental revenue increased 64% year-over-year from all customers and 96% YoY when including T-Mobile interim site revenue.
Array 2026 Guidance and Early Leasing Strength
Array provided 2026 guidance with total operating revenue of $200,000,000–$215,000,000 and adjusted EBITDA of $200,000,000–$215,000,000, driven by strong colocation application volumes (new colocation applications up 47% YoY excluding T-Mobile MLA) and the first full quarter contribution from the T-Mobile MLA.
TDS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TDS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 20, 2026 | $45.54 | $45.29 | -0.55% |
Nov 07, 2025 | $38.45 | $37.65 | -2.08% |
Aug 11, 2025 | $38.67 | $38.61 | -0.16% |
May 02, 2025 | $37.52 | $34.20 | -8.85% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Telephone & Data Systems Inc. (TDS) report earnings?
Telephone & Data Systems Inc. (TDS) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).
What is Telephone & Data Systems Inc. (TDS) earnings time?
Telephone & Data Systems Inc. (TDS) earnings time is at Apr 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TDS EPS forecast?
TDS EPS forecast for the fiscal quarter 2026 (Q1) is -0.44.