Quarterly ResultMay 8, 2026, 07:46 AM
Array Digital Q1 Net Income $180M; Site Rental Revenue +92%
AI Summary
Array Digital Infrastructure, Inc. reported a significant increase in net income from continuing operations to $180.024 million for Q1 2026, up from $5.483 million in Q1 2025. Site rental revenues grew by 92% to $51.024 million, primarily driven by the T-Mobile Master License Agreement. The company also closed the sale of certain wireless spectrum licenses to AT&T for $1,018.0 million, generating a $156.6 million book gain, and paid a special dividend of $885.5 million. Additionally, TDS delivered a non-binding proposal to acquire all outstanding Array Common Shares not owned by TDS, which is currently under review by a special committee.
Key Highlights
- TDS delivered a non-binding proposal to acquire all outstanding Array Common Shares not owned by TDS.
- Net income from continuing operations surged to $180.024 million in Q1 2026 from $5.483 million in Q1 2025.
- Site rental revenues increased 92% to $51.024 million in Q1 2026, driven by the T-Mobile MLA.
- Adjusted EBITDA from continuing operations rose to $62.462 million in Q1 2026 from $21.222 million.
- Closed sale of 3.45 GHz and 700 MHz spectrum licenses to AT&T for $1,018.0 million, with a $156.6 million book gain.
- Paid a special dividend of $885.5 million ($10.25 per share) on February 2, 2026.
- Pending spectrum sales include $1.0 billion to Verizon and $171.387 million to T-Mobile.
- Capital expenditures for continuing operations increased 79% to $8.6 million.