Array Digital Infrastructure Q2 net income rises, not providing 2025 guidance

Overview

• Array Q2 2025 rev declines 1% yr/yr to $916 mln

• Net income rises, diluted EPS increases to $0.36

• Completed $4.3 bln sale of wireless operations and select spectrum assets to T-Mobile

• Third-party tower revenues increase 12%

Outlook

• Array not providing 2025 financial guidance

• Array expects growth in tower revenues and margins

• Pending spectrum transactions with AT&T and Verizon expected to close 2H 2025 and Q3 2026

• Company aims to monetize remaining spectrum assets

Result Drivers

• TOWER REVENUES - Third-party tower revenues increased by 12%, contributing to overall revenue stability

• WIRELESS SALE - Completed $4.3 bln sale of wireless operations to T-Mobile, impacting revenue structure

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "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 $82.00, about 9.5% above its August 8 closing price of $74.25

• The stock recently traded at 3 times the next 12-month earnings vs. a P/E of 53 three months ago

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