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Array Digital Infrastructure (AD)
NYSE:AD
Earnings Data
Report Date
Apr 30, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.19Last Year’s EPS
0.21Same Quarter Last Year
Strong Buy
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated substantial strategic progress and financial actions that materially de-risk and reposition the enterprise: large spectrum monetizations, a significant special dividend and debt paydown, increasing TDS' long-term fiber target, and clear 2026 growth targets for fiber and tower colocation. Operationally, fiber delivery momentum (Q4 fiber address growth +39% YoY, Q4 residential net adds +11% YoY) and Q4 cost reductions that produced a 6% adjusted EBITDA improvement are positive signals. Offsetting these positives are execution shortfalls (missed 2025 fiber target), legacy revenue declines and divestiture impacts on full-year results (revenues down 1%–2%, adjusted EBITDA down 6% year), an active DISH dispute with revenue at risk (~$7M in 2025 and excluded from 2026 guidance), and wide near-term guidance ranges for Array driven by T-Mobile MLA uncertainty and elevated SG&A. On balance, the transformational transactions, stronger balance sheet, clear re-investment plan into fiber, and recent operational momentum significantly outweigh the near-term headwinds and uncertainties.Company Guidance
Major Spectrum Transactions and Special Dividend
Array closed the AT&T C-band spectrum sale (gross proceeds $1,018,000,000) on 01/13/2026; Array declared a $10.25 per share special dividend (pro rata share to TDS: $726,000,000) paid Feb 2, 2026. Array has agreements to monetize roughly 70% of its spectrum holdings and previously signed large transactions with Verizon and AT&T (~$1,000,000,000 level each), materially unlocking enterprise value.
Stronger Balance Sheet and Capital Allocation Flexibility
TDS repaid the last of its outstanding term loan debt ($150,000,000) in January 2026. Share repurchases: $67,000,000 in the quarter (1.8M shares) and $2,800,000 total in 2025; board authorized a $500,000,000 increase earlier and $524,000,000 remained on the open authorization as of year end, improving capital return optionality.
Raised Long-Term Fiber Target and Identified New Opportunities
TDS increased its long-term marketable fiber address goal from 1,800,000 to 2,100,000 (net +300,000), identifying ~300,000 additional edge-out service address opportunities across ~50 new communities where mid-teens returns are expected.
Accelerating Fiber Build and Customer Adds
Q4 2025 added 58,000 new marketable fiber addresses (up 39% year-over-year and sequentially); full year 2025 delivered 140,000 new marketable addresses (100,000 in 2H), with Q4 the strongest build quarter since 2023 supported by record construction crew counts. Residential fiber net adds: ~15,000 in Q4 (up 11% YoY) and ~45,000 for the year.
Improved Q4 Operating Efficiency
Cash expenses decreased 4% in Q4 2025, contributing to a 6% improvement in adjusted EBITDA for the quarter. Average residential revenue per connection increased ~2% year-over-year, reflecting modest ARPC improvement despite video unbundling trends.
Array Tower Business Momentum
Array owns over 4,400 towers with roughly one-third having no competing site within a two-mile radius. T-Mobile MLA integration processed >2,000 applications in Q4 with structural analyses completed on >95% of those. Q4 cash site rental revenue increased 64% YoY (all customers) and +8% YoY excluding T-Mobile MLA; new colocation applications (ex-T-Mobile MLA) rose ~47% YoY.
TDS 2026 Guidance Reflects Fiber Growth
TDS forecasting 2026 telecom revenues of $1,015,000,000 to $1,055,000,000 and adjusted EBITDA of $310,000,000 to $350,000,000. TDS expects to deliver 200,000 to 250,000 new marketable fiber addresses in 2026 (up from 140,000 in 2025) and plans to increase capital investment to $550,000,000–$600,000,000 to fund A-CAM builds, expansion markets and edge-out opportunities.
AD Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
AD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | $49.42 | $50.56 | +2.31% |
Nov 07, 2025 | $39.58 | $38.48 | -2.79% |
Aug 11, 2025 | $42.98 | $44.57 | +3.72% |
May 02, 2025 | $39.85 | $36.50 | -8.39% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Array Digital Infrastructure (AD) report earnings?
Array Digital Infrastructure (AD) is schdueled to report earning on Apr 30, 2026, Before Open (Confirmed).
What is Array Digital Infrastructure (AD) earnings time?
Array Digital Infrastructure (AD) earnings time is at Apr 30, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AD EPS forecast?
AD EPS forecast for the fiscal quarter 2026 (Q1) is 0.19.