Array Digital Infrastructure Posts Strong Q2 Gains Amid Spectrum Sell-offs

The Chicago-based firm saw site rental revenues climb 95% year-over-year, reaching $53.2 million. This growth in core tower operations was bolstered by consecutive quarterly gains in tenancy rates. The company successfully closed over $1 billion in spectrum license sales during June 2026, a move that prompted an $11 per share special dividend to its shareholders.

Management has responded to these results by narrowing its 2026 revenue guidance to a range of $205 million to $215 million, while simultaneously raising its Adjusted EBITDA outlook to between $220 million and $235 million. Despite this financial momentum, the company faces external pressures, including the bankruptcy of DISH Wireless—which has ceased contributing to Array's revenue—and the ongoing evaluation of an unsolicited acquisition offer from TDS, which currently holds an 81.9% stake in the business. A special committee of independent directors remains tasked with reviewing the proposal.