Array Digital Infrastructure Delivers Strong Q2 2026 Results and Raises EBITDA Guidance
AD is trading near its 52-week low of $33.71 (5.8% above the low).
Summary
Array Digital Infrastructure posted Q2 2026 earnings with site rental revenue up 95% year-over-year and raised its full-year Adjusted EBITDA guidance to $220M–$235M. The company also provided updates on the DISH Wireless bankruptcy and remaining spectrum sales.
Key Events · Earnings and Guidance · AD
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Q2 Revenue Surges 90%
Total operating revenues climbed to $54.1M, fueled by a 95% jump in site rental revenues to $53.2M, underscoring robust tower leasing demand.
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Full-Year EBITDA Guidance Raised
Adjusted EBITDA guidance was raised to $220M–$235M from $200M–$215M, while the revenue outlook was narrowed to $205M–$215M.
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Tower Tenancy Grows Sequentially
The tower tenancy rate rose to 0.98 from 0.96 in Q1 2026, with colocations increasing to 4,362, reflecting effective leasing execution.
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Spectrum Sale Gains Boost Net Income
Net income from continuing operations attributable to Array shareholders reached $333.8M, including $409.8M in gains on license sales, compared with $14.8M a year ago.
Analysis · AD · Technology
A standout second quarter for Array Digital Infrastructure saw site rental revenues nearly double year-over-year, while tower tenancy improved sequentially. Bolstered by this operating momentum, the company lifted its full-year Adjusted EBITDA guidance to $220M–$235M. Net income received a substantial lift from $410M in spectrum license sale gains, yet the core tower business continues to demonstrate healthy organic growth. The update also covers the DISH Wireless bankruptcy—where Array has ceased recognizing revenue—and flags roughly $30M in remaining spectrum sales expected to close this year. With a pending acquisition proposal from majority shareholder TDS on the table, these results underscore the standalone strength of Array's tower operations.
At the time of this filing, AD was trading at $35.65 on NYSE in the Technology sector, with a market capitalization of approximately $3.1B. The 52-week trading range was $33.71 to $79.17. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.