Filing Flows › Telephone & Data Systems (TDS) › Q1 2026
Telephone & Data Systems (TDS) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Telephone & Data Systems (TDS) reported revenue of $309M for the first quarter 2026 (Q1 2026), +7% from a year earlier and -6% from the quarter before. Operating margin was 46.5%, net earnings $145M (46.7% of revenue).
Telephone & Data Systems, Q1 2026: revenue $309M (+6% year over year), operating margin 46.5%, net earnings $145M, operating cash flow $67.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $309M | -6% | +7% |
| Operating profit | $144M | +755% | — |
| Net earnings | $145M | +156% | 19× |
| Operating cash flow | $67.5M | +245% | -64% |
What changed
Revenue was $309.4M in Q1 2026, up 7% year over year and down 6% from the previous quarter. Service was the largest line at 81% of revenue. Site rental added $24.4M year over year (up 92%), 128% of the total change. Service declined 2%.
Operating profit was $143.8M, a 46.5% margin (up 58.2 points year over year). Total costs fell 49% while revenue rose 7%. Net earnings were $144.6M, up 1836% year over year. The effective tax rate was 23.5%. Non-operating items added $87.6M, 38% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $67.5M (down 64% year over year), 38% of net income including minority interests. Non-cash charges added back $85.9M of depreciation and amortization and $4.2M of share-based compensation. Working capital and other items used $199.7M. Capital expenditures of $149.0M exceeded it, leaving free cash flow of −$81.6M.
Questions
What was Telephone & Data Systems' revenue in the first quarter 2026?
Telephone & Data Systems (TDS) reported revenue of $309M for the first quarter 2026 (Q1 2026), +7% from a year earlier and -6% from the quarter before.
Was Telephone & Data Systems profitable in the first quarter 2026?
Operating profit was $144M (46.5% of revenue) and net earnings $145M.