Core Insights - TDS Telecom has significantly transformed in 2025, completing the largest transaction in its history with the sale of its wireless business and launching a new tower company, Array, which is now operational [1][2] - The company ended 2025 with 1.06 million marketable fiber service addresses and aims to increase this to 2.1 million by 2026, marking a growth of 300,000 addresses [1][2] - TDS reported total operating revenues of $330.7 million for Q4 2025, a 12% increase from $295.3 million in Q4 2024, and a total revenue of $1,228.2 million for the year, down 5% from $1,297.0 million in 2024 [1][2] Financial Performance - TDS Telecom's net income for Q4 2025 was $37.2 million, or $0.32 per diluted share, compared to $1.0 million, or $0.01 per diluted share in Q4 2024 [1][2] - For the full year 2025, net income attributable to TDS common shareholders was $48.2 million, or $0.39 per diluted share, compared to a loss of $141.4 million, or $(1.24) per diluted share in 2024 [1][2] - Array's site rental revenues grew by 51% year over year, contributing to a total operating revenue of $60.3 million in Q4 2025, compared to $26.1 million in Q4 2024 [2][3] Operational Highlights - TDS Telecom deployed 140,000 new marketable fiber service addresses in 2025, with fiber net additions of 44,900 [1][2] - The company repaid $150 million of debt in January 2026 and repurchased 1,765,863 common shares for $67.4 million in Q4 2025 [1][2] - Array paid a special dividend of $10.25 per share on February 2, 2026, following the sale of wireless spectrum to AT&T for $1.018 billion [1][2] 2026 Guidance - TDS estimates total operating revenues for TDS Telecom in 2026 to be between $1,015 million and $1,055 million, with adjusted EBITDA projected between $310 million and $350 million [1][2] - Array's estimated total operating revenues for 2026 are projected to be between $200 million and $215 million, with adjusted EBITDA expected to be between $50 million and $65 million [1][2] - Capital expenditures for TDS Telecom are estimated to be between $550 million and $600 million for 2026, compared to $406 million in 2025 [1][2]