TDS reports third quarter 2025 results

Core Insights - TDS announced a new $500 million share repurchase authorization, reflecting the Board's confidence in the company's long-term strategy and capital allocation approach [6][11] - TDS reported total operating revenues of $308.5 million for Q3 2025, a decrease of 6% from $327.5 million in Q3 2024 [19] - The company achieved a net income of $40.2 million for Q3 2025, a significant improvement compared to a net loss of $100.4 million in the same quarter last year [19] Financial Performance - TDS Telecom's operating revenues decreased by 3% year-over-year, impacted by $6 million due to divestitures of non-strategic assets [8] - Array, the standalone tower company, reported an 83% increase in operating revenues to $47.1 million in Q3 2025 compared to $25.7 million in Q3 2024 [19] - Total operating expenses for TDS decreased by 21% to $376.5 million in Q3 2025 from $477.2 million in Q3 2024 [19] Operational Highlights - TDS Telecom crossed the milestone of 1 million fiber passings and continued to execute its fiber expansion strategy, delivering 42,000 marketable fiber service addresses in Q3 2025 [3][8] - The company reported 11,200 residential fiber net additions in Q3 2025, indicating growth in fiber connections [8][17] - TDS completed the sale of wireless operations and select spectrum assets to T-Mobile, which is expected to enhance its financial flexibility [8] Leadership Changes - Anthony Carlson was appointed as President and CEO of Array, effective November 16, 2025, succeeding Doug Chambers [4][8] - Doug Chambers was recognized for his contributions in establishing Array as a standalone tower business [5] Future Outlook - TDS maintains its full-year 2025 revenue estimates for TDS Telecom at $1,030-$1,050 million, with adjusted OIBDA and EBITDA estimates unchanged at $310-$340 million and $320-$350 million, respectively [7][19] - The company is expected to continue its capital expenditures in the range of $375-$425 million for 2025 [7]