TDS
Builds fiber broadband networks and leases wireless tower space across the United States.
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Profile
Provides residential and business broadband, video, voice and mobile service through TDS Telecom, while controlled subsidiary Array earns tower rent and site-service revenue. Recurring subscriptions and leases anchor the portfolio, with fiber construction and concentrated wireless tenants shaping execution.
Operates TDS Telecom and Array Digital Infrastructure across the United States. TDS Telecom sells residential broadband, video, voice and mobile service; business broadband, hosted voice and collaboration tools; and wholesale network access. Fiber construction extends its reach across small to midsize urban, suburban and rural communities alongside existing cable and copper networks. Suttle-Straus provides print and marketing services.
Array leases wireless tower space and provides site services. The controlled subsidiary also holds noncontrolling wireless investments and residual spectrum after selling virtually all holdings outside the C-band. Revenue depends on subscriptions and tower leases; fiber expansion requires sustained construction, Array relies on a small group of wireless tenants, and both businesses operate under federal, state and local communications and land-use rules.
Company facts
Categories
Key statistics
Year to date −18.0% · Average volume (30d) 1.0M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| May 11, 2026 | Raymond James | Downgrade | Outperform | Market Perform | |
| Nov 7, 2024 | Raymond James | Upgrade | Market Perform | Outperform | $51 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 7, 2026Q2 FY26 | $0.09 | $2.42 | +2,693.8% | $315.8M | $309.3M | −2.1% | −8.39% |
| May 8, 2026Q1 FY26 | −$0.87 | $1.11 | +227.6% | $313.3M | $309.5M | −1.2% | −6.80% |
| Feb 20, 2026Q4 FY25 | $0.09 | $0.32 | +255.6% | $322.0M | $330.7M | +2.7% | −3.40% |
| Nov 7, 2025Q3 FY25 | −$0.06 | $0.07 | +216.7% | $319.3M | $308.5M | −3.4% | +2.73% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $1.15B | $1.19B | $308.5M | $330.7M | $309.5M | $309.3M | |
| Gross profit | $696.0M | $694.0M | $73.7M | $8.2M | $99.0M | $180.0M | |
| Operating income | $35.0M | $40.0M | −$68.0M | $8.2M | −$3.7M | $373.2M | |
| Net income | $7.0M | $12.0M | −$81.8M | $56.5M | $145.5M | $298.4M | |
| Diluted EPS | −$0.09 | −$0.04 | $0.35 | $0.33 | $1.08 | $2.42 | |
| Gross margin | 60.3% | 58.5% | 23.9% | 2.5% | 32.0% | 58.2% | |
| Operating margin | 3.0% | 3.4% | -22.0% | 2.5% | -1.2% | 120.7% |
Fiscal years (4-quarter sums)FY21 $5.33B · FY22 $5.41B · FY23 $5.16B · FY24 $4.96B · FY25 $2.98B
Revenue by product · Q2 FY26
Revenue by geography · FY24
Balance sheet, Jun 30, 2026Cash & short-term investments $2.19B · Total debt $1.25B · Total assets $8.38B · Shareholders' equity $5.17B
Dividends
Last cut to $0.04 from $10.25 in Mar 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Jun 16, 2026 | Jun 16 | Jun 30 | $0.04 | |
| Mar 16, 2026 | Mar 16 | Mar 31 | $0.04 | cut from $10.25 |
| Jan 23, 2026 | Feb 2 | $10.25 | raised from $0.04 | |
| Dec 15, 2025 | Dec 15 | Dec 30 | $0.04 | |
| Sep 15, 2025 | Sep 15 | Sep 30 | $0.04 | |
| Jun 16, 2025 | Jun 16 | Jun 30 | $0.04 | |
| Mar 17, 2025 | Mar 17 | Mar 31 | $0.04 | |
| Dec 16, 2024 | Dec 16 | Dec 31 | $0.04 |
Ownership
A 13F quarter can total more than the shares outstanding — sub-advisers file the same block twice, and a filer's own share count can be a quarter stale. No split is drawn from it.
Shares outstanding 106.30M · Float 88.03M · 82.8% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| BlackRock, Inc. | 15.77M | 14.83% | 13F | Aug 7, 2026 |
| The Trustees of Amendment and Restatement (dated as of April 22, 2005) of Voting Trust under Agreeme | 13.52M | 11.90% | 13D | May 8, 2026 |
| Telephone & Data Systems Inc Voting Trust 1989 | 13.51M | 11.70% | 13D | Aug 5, 2025 |
| Dimensional Fund Advisors LP | 6.34M | 5.97% | 13F | Aug 11, 2026 |
| Third Point LLC | 6.28M | 5.90% | 13F | Aug 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Mar 23, 2026 | Prudence E. Carlson | director | −5,811 | $42.00 |
| Nov 11, 2025 | Anita J. Kroll | officer: VP, Controller & CAO | −870 | $39.16 |
| Nov 10, 2025 | Anita J. Kroll | officer: VP, Controller & CAO | −16,217 | $39.02 |
Peers
- Charter Communications
Cable broadband scale against TDS Telecom fiber
- AT&T
Fiber and fixed wireless challenge TDS Telecom
- American Tower
Largest tower platform competing with Array
- Comcast
Xfinity and Comcast Business contest broadband and voice
- Crown Castle
U.S. tower pure-play rival for Array
- Verizon
Fios, Frontier fiber, and fixed wireless pressure broadband
- SBA Communications
Tower leasing rival with U.S. and international scale
- Cable One
Small-market broadband peer through Sparklight
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| TDS | $33.65 | 0.00% | $3.58B | 8.1 | 98.5 | 2.8 | −73.9% |
| Charter Communications | $153.50 | −0.04% | $20.70B | 4.0 | 3.6 | 0.4 | −1.7% |
| AT&T | $25.98 | −0.08% | $178.16B | 8.6 | 10.7 | 1.4 | +2.3% |
| American Tower | $176.00 | −0.14% | $82.12B | 24.2 | 26.0 | 7.5 | +4.7% |
| Comcast | $27.08 | +0.09% | $96.03B | 8.8 | 7.7 | 0.8 | −1.2% |
| Crown Castle | $76.14 | 0.00% | $33.27B | 31.0 | 28.6 | 8.0 | −4.9% |
| Verizon | $49.91 | −0.34% | $209.20B | 13.0 | 9.8 | 1.5 | −0.7% |
| SBA Communications | $191.37 | +0.25% | $20.25B | 20.6 | 24.0 | 7.1 | +2.3% |
| Cable One | $25.65 | +0.71% | $144.7M | — | 1.5 | 0.1 | −8.4% |
| Median | 13.0 | 10.3 | 1.5 | −1.0% |