Telephone and Data Systems lowered its 2026 outlook for TDS Telecom and increased expected capital spending in results released November 6, while its board authorized another $250 million in share repurchases.
The Chicago-based company reported third-quarter revenue from continuing operations of $306.7 million, compared with $308.5 million a year earlier. Income attributable to common shareholders from continuing operations fell to $29.6 million, or $0.26 per diluted share, from $40.2 million, or $0.33.
TDS Telecom’s annual revenue forecast now stands at $990 million to $1.010 billion, down from $1.000 billion to $1.025 billion. Its adjusted EBITDA forecast decreased to $290 million–$310 million from $310 million–$330 million.
Planned capital expenditure increased to approximately $750 million from $625 million–$675 million. These figures are management estimates, rather than completed annual results. Adjusted EBITDA is a non-GAAP earnings measure.
The telecom business added approximately 76,000 marketable fiber addresses and 17,000 net residential fiber connections during the quarter. Residential fiber revenue increased 14%, but overall service revenue declined 3% as divestitures and legacy-business declines outweighed that growth.
TDS repurchased about six million shares in the quarter at an average $36.65 each. Management said purchases during 2026 approached 15 million shares, returning more than $520 million to shareholders.
The company also retained the annual outlook for Array Digital Infrastructure, whose tower-site rental revenue rose 14%. TDS abandoned its proposal to buy Array’s remaining public shares in September; the November release did not revive that offer.
Sources: TDS — Third-Quarter 2026 Results, November 6 https://www.tdsinc.com/news/news-details/2026/TDS-reports-third-quarter-2026-results/default.aspx