Array Digital Infrastructure, Inc. (AD) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Array Digital Infrastructure published the results on November 6, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison.

• Array sold its wireless operations to T-Mobile on August 1, 2025 and now reports as a tower company. Revenue and EPS on this page are from continuing operations, the figures Array leads its release with.
• Including discontinued operations, diluted EPS attributable to Array shareholders was $0.80 in Q3 2026 against a loss of $0.44 in Q3 2025.

Source: Array Q3 2026 results, November 6, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Array Digital Infrastructure splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Array Digital Infrastructure's Site rental revenue was $52.5 million in Q3 2026, up 14% from $45.8 million in Q3 2025, 97% of total revenue.
• Array Digital Infrastructure's Services revenue was $1.4 million in Q3 2026, up 9% from $1.3 million in Q3 2025, 3% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Array gives its 2026 estimates as a table, in millions of dollars, and marked each one unchanged from its previous estimate. The same table keeps Adjusted OIBDA at $60-$75 million and Adjusted EBITDA at $220-$235 million.

In its Q3 2026 release, Array Digital Infrastructure said:

“Array's current estimates of full-year 2026 results are shown below.”

“Total operating revenues $205-$215”

“Capital expenditures $25-$35”

Source: Array Q3 2026 release, Nov 6, 2026.

This is the company's own guidance as of Nov 6, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the AD forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Total operating revenues and diluted EPS from continuing operations attributable to Array shareholders, each as first reported in that quarter's release. Q2 and Q1 2026 EPS include large gains on spectrum license sales.

We do not hold a confirmed date for Array Digital Infrastructure's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 6, 2026

Array Digital Infrastructure, called United States Cellular Corporation until August 1, 2025, is now a tower company: it owns 4,455 towers in 19 states and leases space on them to wireless carriers. Of its $53.9 million of Q3 2026 operating revenue, site rental was $52.5 million, up 14% from $45.8 million, and services were $1.4 million. (Array Q3 2026 release, Nov 6, 2026; Array Form 10-K, 2025, Feb 20, 2026)

Array says site rental revenue grew mainly because of the master license agreement with T-Mobile that came with the August 1, 2025 sale of its wireless business. T-Mobile leases space on at least 2,015 additional Array towers for a minimum of 15 years and on about 1,800 more on an interim basis. Interim lease revenue was $4.9 million in the quarter, and Array expects it to keep falling as T-Mobile ends those leases before January 2028. (Array Form 10-Q, Q3 2026, Nov 6, 2026)

DISH Wireless worked the other way. Array stopped recognizing DISH revenue from the first quarter of 2026 after DISH said its obligations under its lease agreement were excused and then failed to make certain payments. Site rental revenue from DISH was $1.8 million lower than a year earlier in Q3 2026. (Array Form 10-Q, Q3 2026, Nov 6, 2026)

Array's largest tenants are T-Mobile, AT&T and Verizon, and it lists reliance on a small number of tenants for a substantial portion of its revenue as a risk. It counted 4,372 colocations at September 30, 2026, a tenancy rate of 0.98, against 0.94 a year earlier once DISH is excluded. (Array Form 10-K, 2025, Feb 20, 2026; Array Q3 2026 release, Nov 6, 2026)

Array Digital Infrastructure earned $0.81 per diluted share from continuing operations in Q3 2026, against $1.25 a year earlier, on net income from continuing operations attributable to shareholders of $69.6 million against $108.8 million. Most of that income came from outside the tower business: the operating line was a loss of $2.3 million, while equity in earnings of unconsolidated entities added $41.0 million and Array recorded an income tax benefit of $30.1 million. (Array Q3 2026 release, Nov 6, 2026)

Equity earnings fell from $69.8 million because the year-ago quarter included Array's $34.1 million share of the gain when three Iowa entities it partly owns sold their wireless operations to T-Mobile. Short-term imputed spectrum lease income dropped to $7.7 million from $30.4 million after the agreements letting T-Mobile use certain Array spectrum expired on July 31, 2026. The quarter's effective tax rate was (75.6)%, which Array calls not meaningful because of favorable state tax changes on spectrum sales and purchased federal tax credits. (Array Form 10-Q, Q3 2026, Nov 6, 2026; Array Q3 2026 release, Nov 6, 2026)

Diluted shares were 86,523 thousand against 86,846 thousand. Array paid out spectrum sale proceeds as two special dividends in 2026: $10.25 a share paid on February 2, 2026, totalling $885.5 million, and $11.00 a share paid on June 25, 2026, totalling $951.3 million. Array reports no adjusted EPS; its non-GAAP measures are EBITDA, Adjusted EBITDA and Adjusted OIBDA. (Array Q3 2026 release, Nov 6, 2026; Array Form 10-Q, Q3 2026, Nov 6, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Array Digital Infrastructure publishes full-year estimates in its release and left all of them unchanged on November 6, 2026: total operating revenues of $205-$215 million, Adjusted OIBDA of $60-$75 million, Adjusted EBITDA of $220-$235 million and capital expenditures of $25-$35 million. Array does not give an income tax estimate, so it does not reconcile the guidance to net income. (Array Q3 2026 release, Nov 6, 2026)

Revenue for the first nine months of 2026 was $160.0 million, so the unchanged range implies fourth-quarter revenue of about $45 million to $55 million. About $30 million of spectrum sales to T-Mobile, covering 600 MHz and 700 MHz licenses, received regulatory approval on October 7, 2026 and are expected to close in 2026. (Array Q3 2026 release, Nov 6, 2026)

A consensus figure is the average of the models published by the analysts who cover Array Digital Infrastructure, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Array Digital Infrastructure's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning AD is on is AD a buy or a sell?, what analysts expect next is on the AD forecast, and what the company does is on the Array Digital Infrastructure, Inc. (AD) stock page.

Every number on this page can be traced to a document Array Digital Infrastructure published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.