v3.26.1
Consolidated Statement of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Operating revenues        
Total operating revenues $ 54,070 $ 28,529 $ 106,082 $ 55,513
Operating expenses        
Cost of operations (excluding Depreciation, amortization and accretion reported below) 23,497 19,396 45,106 35,687
Selling, general and administrative 22,906 19,337 35,651 48,537
Depreciation, amortization and accretion 14,428 11,999 27,032 23,992
(Gain) loss on asset disposals, net 3,809 (313) 4,713 (87)
(Gain) loss on license sales and exchanges, net (409,833) (3,700) (566,468) (4,800)
Total operating expenses (345,193) 46,719 (453,966) 103,329
Operating income (loss) 399,263 (18,190) 560,048 (47,816)
Other income (expense)        
Equity in earnings of unconsolidated entities 34,726 41,714 75,135 77,641
Interest and dividend income 6,431 3,701 10,653 6,358
Interest expense (10,860) (3,711) (18,040) (7,378)
Short-term imputed spectrum lease income 23,770 0 57,970 0
Other, net (13) 0 (26) 0
Total other income 54,054 41,704 125,692 76,621
Income before income taxes 453,317 23,514 685,740 28,805
Income tax expense 115,870 8,415 168,268 8,222
Net income from continuing operations 337,447 15,099 517,472 20,583
Less: Net income from continuing operations attributable to noncontrolling interests, net of tax 3,677 326 3,870 1,127
Net income from continuing operations attributable to Array shareholders 333,770 14,773 513,602 19,456
Net income from discontinued operations 25,114 17,098 23,077 31,300
Less: Net income from discontinued operations attributable to noncontrolling interests, net of tax 188 375 188 1,013
Net income from discontinued operations attributable to Array shareholders 24,926 16,723 22,889 30,287
Net income 362,561 32,197 540,549 51,883
Less: Net income attributable to noncontrolling interests, net of tax 3,865 701 4,058 2,140
Net income attributable to Array shareholders $ 358,696 $ 31,496 $ 536,491 $ 49,743
Basic weighted average shares outstanding (in shares) 86,482 85,779 86,449 85,459
Basic earnings per share from continuing operations attributable to Array shareholders $ 3.86 $ 0.17 $ 5.94 $ 0.23
Basic earnings per share from discontinued operations attributable to Array shareholders 0.29 0.20 0.27 0.35
Basic earnings per share attributable to Array shareholders $ 4.15 $ 0.37 $ 6.21 $ 0.58
Diluted weighted average shares outstanding (in shares) 86,510 87,784 86,499 87,947
Diluted earnings per share from continuing operations attributable to Array shareholders $ 3.86 $ 0.17 $ 5.94 $ 0.22
Diluted earnings per share from discontinued operations attributable to Array shareholders 0.29 0.19 0.26 0.35
Diluted earnings per share attributable to Array shareholders $ 4.15 $ 0.36 $ 6.20 $ 0.57
Site rental        
Operating revenues        
Total operating revenues $ 53,175 $ 27,230 $ 104,199 $ 53,825
Services        
Operating revenues        
Total operating revenues $ 895 $ 1,299 $ 1,883 $ 1,688