TDS swings to $281M net income on $1.4B spectrum sales; proposes Array minority buyout

Filed August 7, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 11, 2025 · ~2 min read

Key Changes

• high

  Net income to common shareholders swung from a $5.7M loss to $281.0M income in Q2 2026, driven by $402M in spectrum sale gains (Verizon) and $151M (AT&T) that more than offset TDS Telecom's operating loss.

  MD&A: Consolidated Results verify on EDGAR →
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  TDS proposed to acquire the 18.1% of Array it does not own; a special committee is evaluating the non-binding offer. Array paid $1.8B in special dividends to all shareholders in H1 2026, including $173M to public minority holders.

  MD&A: Array Proposal; Notes: Special Dividends verify on EDGAR →
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  Array's tower site rental revenue doubled to $53M (+95% YoY) under the 15-year T-Mobile Master License Agreement signed at the August 2025 wireless sale close, now the core of Array's continuing business.

  MD&A: Array Revenue verify on EDGAR →