Pulling SEC filings + quote and writing the call…

TELEPHONE & DATA SYSTEMS INC /DE/
Next earnings Aug 10, 2026 · consensus $0.08 EPS, $323M rev
Last earnings +2.1% on 2026-05-08
Post-T-Mobile-sale, TDS is a shrunken tower/spectrum special situation in wind-down — a sum-of-the-parts bet, not an operating story.
TDS has been fundamentally transformed by the August 1, 2025 closing of the sale of its UScellular wireless operations to T-Mobile. The remaining 'Array' business — a tower portfolio, wireless spectrum licenses (some subject to further sale agreements with Verizon and T-Mobile) and non-controlling interests in wireless operators — is, per the 10-K, of dramatically smaller scale than the historical company. That is visible in the financials: revenue collapsed from $5.29B in FY2022 to $1.07B in FY2025 (-9.0% YoY on the continuing base), and total assets fell 38.6% as the wireless business was deconsolidated.
Sources: SEC EDGAR (CIK 0001051512, latest 10-Q filed 2026-05-08) · analysis by claude-code · as of 6/21/2026, 9:00:20 PM.
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The risks, catalysts, 12-month price target and the cited SEC figures behind this rating — with Pro.
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| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $5.22B | $5.29B | $1.23B | $1.18B | $1.07B |
| Gross profit | — | — | — | — | — |
| Operating income | $261M | $122M | -$683M | -$191M | -$97.4M |
| Net income | $156M | $62.0M | -$500M | -$27.7M | -$6.24M |
| Diluted EPS | $1.00 | -$0.07 | -$5.05 | -$0.85 | -$0.65 |
| Net margin | 3.0% | 1.2% | -40.7% | -2.4% | -0.6% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
| 2026-06-11 | Villacrez Vicki L Executive Vice President & CFO | Exercise | 10.2K @ $40.03 | $407K |
| 2026-06-11 | Villacrez Vicki L Executive Vice President & CFO | Tax | 4.78K @ $40.03 | $191K |
| 2026-06-11 | Kroll Anita J VP, Controller & CAO | Exercise | 2.72K @ $40.03 | $109K |
| 2026-06-11 | Kroll Anita J VP, Controller & CAO | Tax | 1.28K @ $40.03 | $51.1K |
| 2026-06-11 | CARLSON LEROY T JR Vice Chair | Exercise | 45.1K @ $40.03 | $1.81M |
| 2026-06-11 | CARLSON LEROY T JR Vice Chair | Tax | 18.9K @ $40.03 | $758K |
| 2026-06-09 | Dixon Kenneth S. President & CEO, subsidiary | Exercise | 4.65K @ $39.33 | $183K |
| 2026-06-09 | Dixon Kenneth S. President & CEO, subsidiary | Tax | 1.49K @ $39.33 | $58.6K |
| 2026-05-21 | OFF GEORGE W Director | Award | 2.90K @ $41.20 | $120K |
| 2026-05-21 | OLeary Christopher D Director | Award | 2.90K @ $41.20 | $120K |
| 2026-05-21 | Dixon Kimberly D Director | Award | 2.90K @ $41.20 | $120K |
| 2026-05-21 | Oosterman Wade Director | Award | 2.90K @ $41.20 | $120K |
Source: EODHD. Yield = trailing-12-month dividends ÷ price.
1047 tracked peers · median
Dates from 8-K (Item 2.02); beat/miss = reported EPS vs consensus (Finnhub, recent quarters); move = prior close → close on/after.