Earnings summaries and quarterly performance for ARRAY DIGITAL INFRASTRUCTURE.
Executive leadership at ARRAY DIGITAL INFRASTRUCTURE.
Anthony Carlson
Detailed
President and Chief Executive Officer (effective November 16, 2025)
CEO
Douglas W. Chambers
Detailed
Interim President and Chief Executive Officer (until November 16, 2025)
CEO
VL
Vicki L. Villacrez
Detailed
Executive Vice President, Chief Financial Officer and Treasurer
WC
Walter C. D. Carlson
Detailed
Chair of the Board
Board of directors at ARRAY DIGITAL INFRASTRUCTURE.
Research analysts covering ARRAY DIGITAL INFRASTRUCTURE.
Recent press releases and 8-K filings for AD.
AD Completes Spectrum Asset Sale to AT&T and Declares Special Dividend
AD
M&A
Dividends
- Array Digital Infrastructure, Inc. (AD) completed the sale of select spectrum assets to AT&T for $1.018 billion on January 13, 2026.
- Following the completion of the sale, AD's Board of Directors declared a special cash dividend of $10.25 per Common Share and Series A Common Share.
- The special dividend is scheduled to be paid on February 2, 2026, to shareholders of record as of January 23, 2026.
Jan 13, 2026, 9:11 PM
Array Digital Infrastructure Completes Spectrum Asset Sale to AT&T and Declares Special Dividend
AD
M&A
Dividends
- Array Digital Infrastructure (AD) has completed the sale of select spectrum licenses to AT&T for $1.018 billion.
- This transaction aligns with the company's objective, announced on May 28, 2024, to opportunistically monetize spectrum not included in a previous sale to T-Mobile.
- Following the AT&T transaction, Array's Board of Directors declared a special cash dividend of $10.25 per Common Share and Series A Common Share.
- The special dividend is payable on February 2, 2026, to shareholders of record on January 23, 2026.
Jan 13, 2026, 9:07 PM
Array Digital Infrastructure discusses strategic outlook and leadership transition
AD
Dividends
M&A
Management Change
- Array Digital Infrastructure (AD) operates 4,400 towers with a 1.02 tenancy rate and reports a 125% year-over-year increase in new colocation applications as of September 30, 2025.
- The company anticipates closing $1 billion in spectrum sales to AT&T, expected in Q4 2025 or early 2026, and another $1 billion to Verizon, expected in Q3 2026, which are projected to result in special dividends of approximately $10 per share and $8.50 per share, respectively. An additional $178 million spectrum sale to T-Mobile is also expected to close in 2026.
- AD plans to return excess cash to shareholders primarily through dividends, with a regular recurring dividend expected to be instituted by the board in late 2026 or early 2027, following the completion of spectrum sales.
- The company is targeting EBITDA margins of 45-50% for its tower business, with Selling, General, and Administrative (SG&A) costs expected to remain elevated through the first half of 2026 before decreasing substantially in the second half of 2026.
- Doug Chambers is transitioning from interim CEO to a senior advisor role, with Anthony Carlson assuming the position of CEO.
Nov 18, 2025, 4:45 PM
Array Digital Infrastructure Outlines Strategic Transition and Capital Return Plans
AD
Dividends
CEO Change
New Projects/Investments
- Array Digital Infrastructure (AD) is transitioning to a pure-play tower operator, with its tower business experiencing significant growth, including a 125% year-over-year increase in new colocation applications as of Q3 2025.
- The company anticipates a $1 billion spectrum sale to AT&T, expected to close in Q4 2025 or early 2026, which is projected to result in a $10 dividend per share.
- An additional $1 billion spectrum sale to Verizon is expected to close in Q3 2026, anticipated to yield an $8.50 dividend per share.
- SG&A costs are expected to remain elevated through the first half of 2026 due to wireless operation wind-down, with substantial reductions projected in the second half of 2026.
- Doug Chambers is transitioning from interim CEO to Senior Advisor, with Anthony Carlson taking over as CEO.
Nov 18, 2025, 4:45 PM
Array Provides Update on Asset Monetization, Tower Business Growth, and Leadership Transition
AD
Dividends
M&A
Management Change
- Array's core assets include 4,400 towers with a 1.02 tenancy rate, retained spectrum (30% of megahertz pops), and non-controlling investment interests generating approximately $150 million in annual cash distributions.
- The company expects to close $2 billion in spectrum sales, including $1 billion to AT&T (expected Q4 2025, potentially Q1 2026) with an anticipated $10 dividend per share, and $1 billion to Verizon (expected Q3 2026) with an anticipated $8.50 dividend per share.
- Array is transitioning to a pure-play tower operator, targeting 45-50% EBITDA margins in the tower business, driven by a 125% year-over-year increase in new colocation applications as of September 30, 2025.
- The company plans to maintain a three-times leverage profile and anticipates instituting a regular recurring dividend in late 2026 or early 2027 after spectrum sales are complete.
- Doug Chambers is transitioning from interim CEO to a senior advisor role, with Anthony Carlson assuming the CEO position.
Nov 18, 2025, 4:45 PM
AD Reports Q3 2025 Results with Strong Fiber and Tower Growth
AD
Earnings
New Projects/Investments
M&A
- In Q3 2025, AD successfully closed the T-Mobile transaction, which significantly increased the tower tenancy rate to 1.02 and boosted total cash site rental revenue to $41,966 thousand from $25,051 thousand in Q3 2024.
- The company made substantial progress in fiber expansion, deploying 42,000 new marketable fiber addresses in Q3 2025 and exceeding 1 million total fiber addresses. This initiative also resulted in 11,200 net broadband adds from fiber markets.
- TDS Telecom reported total operating revenues of $255 million and Adjusted EBITDA of $80 million in Q3 2025, both reflecting a 3% decrease year-over-year, while capital expenditures increased 31% to $102 million.
- The E-ACAM program is underway to upgrade approximately 300,000 addresses from copper to fiber, extending current ACAM funding through 2038 for over $1.2 billion in revenues.
Nov 7, 2025, 3:00 PM
TDS Reports Q3 2025 Results, Achieves Fiber Milestone, and Announces Share Repurchase Program
AD
Earnings
Share Buyback
New Projects/Investments
- TDS Telecom achieved a significant milestone of 1 million fiber addresses in Q3 2025, delivering 42,000 fiber addresses and 11,200 residential fiber net adds in the quarter.
- The company strengthened its capital structure, receiving a $1.6 billion special dividend from Array in August, which enabled substantial debt paydown and will support fiber expansion.
- A new $500 million share repurchase program was announced, and TDS's gross leverage was 1.4 times as of Q3 2025.
- For Q3 2025, total operating revenues were down 3% year over year (or 1% excluding divestitures), and Adjusted EBITDA was also down 3% year over year.
- Anthony Carlson was named President and CEO of Array Digital Infrastructure, which became an independent tower company following the T-Mobile transaction close on August 1.
Nov 7, 2025, 3:00 PM
Array Digital Infrastructure, Inc. Reports Q3 2025 Results and Announces Leadership Transition
AD
Earnings
M&A
Management Change
- Array Digital Infrastructure, Inc. reported total operating revenues from continuing operations of $47.1 million for the third quarter of 2025, a significant increase from $25.7 million in the same period last year.
- The company achieved net income attributable to Array shareholders of $108.8 million and diluted earnings per share of $1.25 from continuing operations for Q3 2025, compared to a net loss of $(95.9) million and $(1.12) diluted EPS in Q3 2024.
- Key recent highlights include the closure of the sale of wireless operations and select spectrum assets to T-Mobile on August 1, 2025, the payment of a $23 per share special dividend on August 19, 2025, and a 68% year-over-year increase in Site rental revenues (excluding non-cash amortization).
- Anthony Carlson will assume the role of President and CEO of Array effective November 16, 2025, succeeding Interim President and CEO Doug Chambers.
Nov 7, 2025, 12:34 PM
Array Digital Infrastructure Reports Q3 2025 Results and CEO Appointment
AD
Earnings
CEO Change
M&A
- Array Digital Infrastructure reported total operating revenues from continuing operations of $47.1 million for the third quarter of 2025, compared to $25.7 million for the same period one year ago.
- Net income attributable to Array shareholders and related diluted earnings per share from continuing operations were $108.8 million and $1.25, respectively, for the third quarter of 2025, a significant improvement from a loss in the prior year period.
- The company closed on the sale of wireless operations and select spectrum assets to T-Mobile on August 1, 2025, and paid a $23 per share special dividend on August 19, 2025.
- The new T-Mobile Master Lease Agreement (MLA), which commenced on August 1, 2025, contributed to a 68% year-over-year increase in Site rental revenues, excluding non-cash amortization.
- Anthony Carlson will become President and CEO of Array effective November 16, 2025, succeeding Interim President and CEO Doug Chambers.
Nov 7, 2025, 12:30 PM
TDS Reports Q4 2024 Results, Outlines 2025 Priorities and Strategic Fiber Expansion
AD
Earnings
M&A
New Projects/Investments
- TDS's top priority for 2025 is to close the T-Mobile transaction and other announced spectrum sales, which are part of a strategic review to optimize its portfolio and focus on growth areas like the remaining tower business and fiber strategy.
- For the full year 2024, consolidated adjusted EBITDA increased 7% and capital expenditures were down 24%, contributing to an increase in free cash flow. US Cellular also paid down over $200 million in debt.
- TDS Telecom significantly advanced its fiber strategy, increasing its fiber footprint by nearly 30% over the past three years and updating long-term goals to target 1.8 million marketable fiber service addresses and 95% of its footprint offering 1 gig or higher speeds. The company plans to deliver 150,000 fiber service addresses in 2025.
- For 2025, TDS Telecom forecasts total revenues between $1.03 billion and $1.07 billion, adjusted EBITDA between $320 million and $360 million, and capital expenditures between $375 million and $425 million.
Feb 21, 2025, 3:00 PM
Quarterly earnings call transcripts for ARRAY DIGITAL INFRASTRUCTURE.
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