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Array Digital Infrastructure Q3 revenue rises on site rental growth

By Reuters News


Overview

  • U.S. tower leasing firm's Q3 revenue rose 14% yr/yr, driven by site rental growth

  • Net income and diluted EPS from continuing operations fell 36% from prior year

  • Company reaffirmed full-year 2026 financial guidance and highlighted ongoing spectrum sales


Outlook

  • Array affirms 2026 guidance for total operating revenues of $205-$215 mln

  • Company maintains 2026 adjusted EBITDA outlook at $220-$235 mln

  • Array keeps 2026 capital expenditures forecast at $25-$35 mln


Result Drivers

  • SITE RENTAL GROWTH - Co said Q3 revenue increase was driven by higher site rental revenues

  • COLOCATION EXPANSION - Co delivered consecutive quarter-over-quarter colocation growth

  • SPECTRUM SALES - Co continued to close pending sales of wireless spectrum, with regulatory approval received for remaining transactions


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

$53.90 mln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "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 $42.50, about 35.5% above its November 5 closing price of $31.37

  • The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 13 three months ago


Reuters Recommended Reads

  • Nov 4 - Array Technologies beats Q3 revenue estimates; to merge with Shoals Technologies

  • Nov 6 - TeraWulf Q3 revenue beats estimates on growth in high-performance computing lease

  • Nov 5 - Core Scientific Q3 revenue nearly triples on colocation growth


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(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.)

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