Bullish indicating open at $55-$60, IPO prices at $37
CHICAGO - On Monday, Array Digital Infrastructure (NYSE:USM), formerly United States Cellular Corporation, reported second quarter earnings that beat analyst expectations, bolstered by the completion of its $4.3 billion sale of wireless operations to T-Mobile.
The company’s shares rose 4.38% in pre-makret trading after the release.
The company reported second quarter earnings per share of $0.36, exceeding the analyst estimate of $0.30, while revenue came in at $916 million, surpassing the consensus estimate of $907.63 million. Despite the revenue beat, total operating revenues were down 1.2% compared to $927 million in the same quarter last year.
Array’s transformation from a wireless carrier to a tower infrastructure company marks a significant strategic shift. The company declared a special dividend of $23.00 per share payable on August 19, 2025, following the T-Mobile transaction closure on August 1.
"I am pleased that we have successfully closed the T-Mobile deal and have declared a special dividend in connection with the transaction," said Doug Chambers, Array interim President and CEO. "As a tower company with 4,400 towers and a new Master License Agreement with T-Mobile, Array has strength and stability from its current tower revenue stream, along with an excellent opportunity to grow colocations and revenues."
The company reported 12% growth in third-party tower revenues, highlighting the potential of its new business focus. Array’s net income increased significantly to $31 million ($0.36 per share) compared to $17 million ($0.20 per share) in the same period last year, representing an 80% improvement.
Array is not providing financial guidance for 2025 as it navigates its business transformation. The company also has pending spectrum sales to AT&T (NYSE:T) and Verizon (NYSE:VZ) expected to close in the second half of 2025 and third quarter of 2026, respectively, subject to regulatory approvals.
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