Strategic Transformation and Operational Execution – Proposed an all-stock merger to acquire the remaining 18.1% of Array to eliminate duplicative costs and strengthen the enterprise capital structure for growth investments. – TDS Telecom achieved record first-quarter fiber…
livery by nearly tripling address builds year-over-year, driven by expanded internal and external construction capacity. – Fiber revenue grew 13% to $11 million, serving as a critical offset to ongoing legacy revenue pressures in copper and cable segments. – Array successfully transitioned to a stand-alone tower company, achieving a 64% increase in normalized cash site-rental revenue despite challenges with a major tenant. – Strategic focus remains on ‘clustering’ through acquisitions like Granite State Communications, which adds 11,000 contiguous fiber addresses in New Hampshire. – Operational transformation initiatives are modernizing back-office systems, including a completed billing conversion in cable markets to improve customer experience and technician efficiency. 2026 Outlook and Strategic Priorities – Reiterated 2026 fiber build target of 200,000 to 250,000 service addresses, supported by a record pipeline of addresses currently under construction. – Anticipate the closing of major spectrum sales to T-Mobile and Verizon in Q2 and Q3 2026, which are prerequisites for the proposed Array merger exchange ratio. – Projected Telecom revenues are trending toward the lower half of the $1.015 billion to $1.055 billion range due to headwinds in copper and cable markets. – Plan to launch multi-gig speeds across the cable footprint in 2026 to stem legacy declines and leverage high-growth market demographics. – Targeting $100 million in run-rate cost savings by year-end 2028, with benefits expected to be used to offset inflationary cost increases and reinvested into fiber footprint expansion. Risk Factors and Structural Adjustments – Ceased recognizing revenue from DISH Wireless following a breach