Q4 2025 Telephone and Data Systems Inc and Array Digital Infrastructure Inc Earnings Call Transcript
Key Points
- Telephone and Data Systems Inc (TDS) completed the largest transaction in its history, significantly strengthening its balance sheet.
- The company successfully divested its Wireless operations, positioning ARRAY as a growing tower company.
- TDS Telecom expanded its fiber operations, adding 140,000 new marketable fiber addresses in 2025.
- ARRAY closed a spectrum sale to AT&T for $1.018 billion, resulting in a special dividend of $10.25 per share.
- TDS repaid its outstanding term loan debt of $150 million, enhancing financial flexibility for future capital allocation.
- TDS did not meet its 2025 goal of 150,000 new marketable fiber addresses, falling short by 10,000.
- Total operating revenues decreased by 1% for the quarter and 2% for the full year, reflecting declines in cable and copper markets.
- Adjusted EBITDA declined 6% for the full year, impacted by divestitures and a non-cash adjustment to stock-based compensation.
- DISH Wireless has failed to make contractually required payments, impacting ARRAY's revenue expectations.
- The company faces uncertainty with the T-Mobile MLA and timing of interim site terminations, affecting revenue projections.
Ladies and gentlemen, thank you for joining us, and welcome to the TDS and ARRAY fourth-quarter 2025 operating results conference call. (Operator Instructions) I will now hand the conference over to John Toomey, Treasurer and Vice President of Corporate Relations. John, please go ahead.
Good morning, and thank you for joining us. The presentation we prepared to accompany our comments this morning can be found on the Investor Relations sections of the TDS and ARRAY websites. With me today and offering prepared comments are, on behalf of TDS, Walter Carlson, President and CEO; Vicki Villacrez, Executive Vice President and Chief Financial Officer. On behalf of TDS Telecom; Ken Dixon, President and CEO of TDS Telecom; Kris Bothfeld, Vice President of Financial Analysis and Strategic Planning of TDS; and on behalf of ARRAY Digital Infrastructure, Anthony Carlson, President and CEO of ARRAY.
This call is being simultaneously webcast on the TDS and ARRAY Investor
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