Array Digital Q2 revenue nearly doubles on site rental growth

Array Digital Infrastructure

07/08/2026 12:42

Overview
US wireless tower operator's Q2 revenue nearly doubled, driven by 95% growth in site rentals
Net income and diluted EPS from continuing operations surged, boosted by spectrum license sales
Company issued $11/share special dividend and raised 2026 adjusted EBITDA guidance

Outlook
Array raises 2026 adjusted EBITDA outlook to $220 mln-$235 mln from $200 mln-$215 mln
Company narrows 2026 revenue forecast to $205 mln-$215 mln from $200 mln-$215 mln
Capital expenditures forecast for 2026 remains unchanged at $25 mln-$35 mln

Result Drivers
SITE RENTAL GROWTH - Co said site rental revenues grew 95% year over year, reflecting increased demand for tower space
SPECTRUM SALES - Co closed multiple spectrum license sales in Q2, generating proceeds of over $1.1 bln
TENANCY INCREASE - Co reported consecutive quarter-over-quarter tower tenancy growth, citing operational focus

Company press release: ID:nPn52H9x3a

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$53.2 mln
 
Q2 Net Income
 
$362.6 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the wireless telecommunications services peer group is "buy"
Wall Street's median 12-month price target for Array Digital Infrastructure Inc is $45.02, about 26.3% above its August 6 closing price of $35.65
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 11 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)