TDS Reports Q2 2026 Results Amid Strategic Shift

The company’s quarterly performance reflects divergent paths for its two primary business arms. TDS Telecom expanded its fiber footprint by approximately 66,000 addresses, driving an increase in its full-year fiber service address guidance to a range of 250,000 to 300,000. However, the division saw a 6% decline in service revenue, as growth in residential fiber was offset by divestitures and the continued decline of legacy services. To support its infrastructure goals, TDS has increased its capital expenditure guidance for the telecom unit to between $625 million and $675 million.

Meanwhile, Array is optimizing its operations as a standalone tower company. The unit posted a 95% year-over-year increase in site rental revenues and achieved sequential growth in tower tenancy. Array significantly bolstered its cash position by completing the sale of various spectrum licenses, including a $1 billion transaction closed on June 1, 2026. Following these divestitures, the company issued a special dividend of $11 per common share. CEO Walter Carlson stated that the teams are effectively executing their strategic objectives, noting that Array has now monetized virtually all of its spectrum outside of the C-Band. TDS also confirmed it is currently evaluating a non-binding proposal to acquire the remaining outstanding common shares of Array that it does not already own.