10-K · February 24, 2026
TDS completed a transformational repositioning in 2025, selling Array’s wireless operations and monetizing spectrum while retaining an 82.0% ownership in Array, which now operates as a tower/colocation-focused business.…
Earnings analysis · 10-Q
TDS earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
TDS reported Q1 2026 earnings with total revenue of $309.5 million, slightly below the estimated $314.08 million, but achieved a notable EPS of $1.11, significantly surpassing the expected loss of -$0.77. This reflects…
Read full summary
TDS reported Q1 2026 earnings with total revenue of $309.5 million, slightly below the estimated $314.08 million, but achieved a notable EPS of $1.11, significantly surpassing the expected loss of -$0.77. This reflects a strong operational performance despite missing revenue forecasts. Guidance for Q2 2026 remains stable with revenue expected between $320 million and $340 million and an EPS range of -0.70 to -0.50.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.11
What stood out
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Strong Revenue Performance
Revenue for Q1 2026 was $309.5 million, just short of the $314.08 million estimate.
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Significant EPS Beat
The EPS reported was $1.11, compared to an expected loss of -$0.77.
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Positive Year-over-Year EPS Growth
EPS improved from -0.84 in Q4 2025, showcasing operational improvements.
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Stable Guidance for Next Quarter
Management expects Q2 2026 revenue between $320 million and $340 million.
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Operational Momentum
Operational metrics show improvement despite revenue miss.
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Year-over-Year Revenue Consistency
Revenue remained comparable to prior periods, indicating stability.
What to watch
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Continued Net Losses
The Company is still facing financial losses, as shown by EPS in previous quarters.
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Reliance on License Sales
Ongoing dependency on spectrum license sales could pose risks to revenue.
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Increasing Capital Expenditures
Rising capital expenditure needs may pressure future cash flows.
Management's outlook
Management guidance remains unchanged for Q2 2026.
Earlier filings 4
10-Q · November 7, 2025
TDS reported Q3 results with revenue of $308,521,000 and reported EPS of $0.33. Gross margin expanded to 58.3% year-over-year, but operating margin was negative at -21.3% and free cash flow was -$13,000,000, reflecting…
10-Q · November 1, 2024
TDS reported Q3 2024 operating revenues of $1,224 million, down $54 million (−4.2%) versus Q3 2023, with operating income turning into an $80 million loss from $48 million income a year earlier. Management recorded a…
10-Q · November 3, 2023
TDS reported Q3 operating revenue of $1,278.0M, down $114.0M (−8.2%) versus Q3 2022, while operating income turned positive to $48M from a $(11)M loss a year ago. Gross profit expanded (improving gross margin to ~55.6%)…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.