Telephone and Data Systems, Inc. Q3 2025 Financial Results
Telephone and Data Systems, Inc. (TDS) has released its financial results for the third quarter of 2025. The company reported total operating revenues from continuing operations of $308.5 million, a decrease from $327.5 million in the same period last year. Net income attributable to TDS common shareholders was $40.2 million, translating to diluted earnings per share (EPS) of $0.33, a significant improvement from a net loss of $(100.4) million and $(0.88) per share in Q3 2024.
Financial Highlights
Key financial metrics for the third quarter of 2025 include:
- Total operating revenues: $308.5 million, down 6% year-over-year.
- Net income attributable to TDS common shareholders: $40.2 million, compared to a loss of $(100.4) million in Q3 2024.
- Diluted EPS: $0.33, compared to $(0.88) in Q3 2024.
Business and Operational Highlights
TDS has made significant strides in its business operations:
- Repurchased over one million TDS Common Shares during the third quarter.
- Board approved a new $500 million share repurchase program.
- TDS Telecom delivered 42,000 marketable fiber service addresses in Q3 2025 and added 11,200 residential fiber connections.
- Array closed the sale of wireless operations and select spectrum assets to T-Mobile, resulting in a 68% increase in Site rental revenues, excluding non-cash amortization.
Strategic Initiatives and Corporate Developments
Notable corporate activities include:
- Announcement of a $500 million share repurchase program, reflecting the Board's confidence in the company's long-term strategy.
- Appointment of Anthony Carlson as President and CEO of Array, effective November 16, 2025.
- Payment of a $23 per share special dividend on August 19, 2025.
Management's Perspective
Walter Carlson, TDS President and CEO, commented on the results, highlighting the company's strong portfolio and increased financial flexibility. He emphasized the milestone of crossing one million fiber passings at TDS Telecom and the ongoing execution of the fiber strategy. Carlson also expressed confidence in Anthony Carlson's leadership for Array's growing tower business.
Future Outlook
TDS provided estimates for full-year 2025 results for TDS Telecom, which remain unchanged from previous guidance:
- Total operating revenues: $1,030-$1,050 million.
- Adjusted OIBDA: $310-$340 million.
- Adjusted EBITDA: $320-$350 million.
- Capital expenditures: $375-$425 million.
Original SEC Filing: TELEPHONE & DATA SYSTEMS INC /DE/ [ TDS ] - 8-K - Nov. 07, 2025