Array Digital Infrastructure Posts $53.9 Million in Q3 Revenue and Reaffirms 2026 Guidance

Array Digital Infrastructure reported third-quarter operating revenues of $53.9 million, up 14% from $47.1 million a year earlier, and reaffirmed its full-year 2026 guidance. The company said in its earnings release that net income attributable to Array shareholders from continuing operations was $69.6 million, or $0.81 per diluted share, down from $108.8 million, or $1.25 per share.

Array's Tower Revenue and Spectrum Sales

Site rental revenues rose 14% year over year, and Array reported consecutive quarter-over-quarter colocation growth. The company said it received regulatory approval on October 7, 2026 for its remaining pending spectrum transactions with T-Mobile, which cover approximately $30 million related to 600 MHz and 700 MHz licenses. Closings remain subject to FCC finality and other customary closing conditions, and Array expects them to occur in 2026.

"As Array marks its first year as a tower company, we continue to make meaningful progress against our 2026 strategic priorities," said Anthony Carlson, President and CEO. "Our team remains intensely focused on maximizing the value of our tower portfolio by driving tenant growth and enhancing operational efficiency."

Array leases tower space to tenants and holds noncontrolling interests in wireless operating companies and certain wireless spectrum licenses. The company owns 4,455 towers in 19 states, and Telephone and Data Systems, Inc. owned approximately 81.9% of Array as of September 30, 2026.

Array's 2026 Guidance and Tower Footprint

According to akta.pro company records, Array was spun off from UScellular and parent TDS as an independent, publicly traded tower infrastructure company on the NYSE under the ticker AD, with TDS retaining majority ownership. The same records describe Array as a top five tower company in the United States, with 4,452 owned towers in 19 states as of the first quarter of 2026. Anthony Carlson was appointed President and CEO and joined Array's board in November 2025, moving from vice president of organizational transformation at sister company TDS Telecom.

TDS Ends Its Array Buyout Proposal

On May 7, 2026, TDS delivered a non-binding proposal to the Array board to acquire all outstanding Array common shares not owned by TDS. TDS announced on September 1, 2026 that it was no longer pursuing the proposal, according to the release. Array's 2026 guidance, unchanged from prior estimates, projects total operating revenues of $205 million to $215 million, Adjusted OIBDA of $60 million to $75 million, Adjusted EBITDA of $220 million to $235 million and capital expenditures of $25 million to $35 million.

Array's Next Steps on Spectrum Closings

Array said the remaining spectrum transactions are expected to close in 2026, subject to FCC finality and other customary closing conditions. The company held a teleconference on November 6, 2026 at 9:00 a.m. CT to discuss the results.