Array Digital Infrastructure, Inc. Reports Q2 2025 Financial Results

Array Digital Infrastructure, Inc., formerly known as United States Cellular Corporation, has released its financial results for the second quarter of 2025. The company, which recently rebranded and completed a significant transaction with T-Mobile, has provided detailed insights into its financial performance and strategic initiatives.

Financial Highlights

For the second quarter of 2025, Array reported total operating revenues of $916 million, a slight decrease from $927 million in the same period last year. Service revenues were $736 million, down from $743 million year-over-year. However, net income attributable to Array shareholders saw a significant increase, rising to $31 million from $17 million in the second quarter of 2024. Diluted earnings per share (EPS) also improved to $0.36 from $0.20.

Business and Operational Highlights

Array completed the sale of its wireless operations and select spectrum assets to T-Mobile for $4.3 billion, which included a combination of cash and assumed debt. The company declared a $23.00 per share special dividend payable on August 19, 2025. Additionally, third-party tower revenues increased by 12%, reflecting the company's focus on its tower business. The pending spectrum transactions with AT&T and Verizon are expected to close in the second half of 2025 and the third quarter of 2026, respectively.

Strategic Initiatives and Corporate Developments

Array's strategic initiatives include the sale of spectrum licenses to Verizon and AT&T, which are subject to regulatory approvals. The company has also entered into agreements with Nsight Spectrum, LLC, and Nex-Tech Wireless, LLC for the sale of select spectrum licenses. These transactions are part of Array's broader strategy to monetize its spectrum assets and focus on its core tower business.

Management's Perspective

Doug Chambers, Array's interim President and CEO, expressed satisfaction with the successful closure of the T-Mobile deal and the declaration of a special dividend. He highlighted the company's strength and stability from its current tower revenue stream and the excellent opportunity to grow colocations and revenues. Chambers also emphasized the significant cash flow generated from non-controlling investment interests and the ongoing efforts to monetize remaining spectrum assets.

Future Outlook

Array has not provided specific financial guidance for 2025. However, the company remains focused on closing the announced spectrum transactions and exploring opportunities to monetize its remaining spectrum assets. The strategic shift towards the tower business is expected to provide a stable revenue stream and potential for margin expansion over time.

SEC Filing: ARRAY DIGITAL INFRASTRUCTURE, INC. [ USM ] - 8-K - Aug. 11, 2025