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Sep 30
TDS Q3 2025 Earnings Report
TDS reported a return to profitability in Q3 2025, driven by improved operational performance and gains from continuing operations.
Key Takeaways
TDS saw net income of $40.2 million in Q3 2025, a significant improvement from a net loss in the prior year. Revenue declined due to divestitures, but fiber broadband additions and increased site rental revenues at Array signaled strategic progress.
TDS reported net income of $40.2 million, reversing a $100.4 million loss a year ago
Revenue declined to $308.5 million, impacted by the sale of non-strategic assets
TDS Telecom added 11,200 residential fiber customers and passed 42,000 new addresses
Array's site rental revenues rose 68% due to the T-Mobile MLA deal
TDS
TDS
TDS Revenue by Segment
Revenue by Segment
TDS Telecom Revenue
CapyFin.comArray Revenue
CapyFin.comAll Other Revenue
CapyFin.com Forward Guidance
TDS reaffirmed 2025 guidance for TDS Telecom with no changes to expected revenue, Adjusted OIBDA, or capital expenditures.
Positive Outlook
- TDS Telecom revenue guidance unchanged at $1.03–$1.05 billion
- Adjusted EBITDA guidance remains $320–$350 million
- Capital expenditure forecast held at $375–$425 million
- Continued growth in fiber network investment and expansion
- Revenue diversification supported by T-Mobile lease agreement at Array
Challenges Ahead
- Guidance excludes income tax impact due to uncertainty
- Pressure from discontinued operations and impairments
- Ongoing churn in non-fiber residential services
- Revenue headwinds from 2024 divestitures
- Decline in legacy services revenue