TDS Q2 EPS $2.24 on spectrum gains; raises Array guidance, proposes Array buyout

TELEPHONE & DATA SYSTEMS INC /DE/

Q2 net income $260.6M ($2.24 diluted EPS) vs $(6.0)M loss a year ago; revenue $309.3M vs $298.5M.
Array closed spectrum sales totaling ~$1.16B (May-June) and issued $11/share special dividend on June 25.
TDS Telecom added ~66k fiber addresses; raised 2026 fiber address guidance to 250k-300k, capex to $625-675M.
TDS Telecom lowered 2026 revenue guidance to $1,000-1,025M and Adjusted EBITDA to $310-330M.
TDS made non-binding proposal to acquire all Array common shares not owned by TDS; special committee evaluating.

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