Array Digital Infrastructure, Inc. Q1 2026 Earnings Recap

The stock reacted positively, rising 6.5%, reflecting investor approval of TDS's strategic acquisition proposal to take full ownership of Array Digital Infrastructure, Inc., and ongoing progress in fiber expansion and tower tenancy growth.

Key Takeaways

• TDS announced a proposed all-stock merger to acquire the remaining shares of Array Digital Infrastructure, simplifying corporate structure and improving capital flexibility.
• Array Digital Infrastructure continues to grow tower tenancy and completed a small spectrum transaction with T-Mobile, with remaining spectrum sales expected in Q2 or Q3.
• TDS Telecom added 40,000 fiber service addresses in the quarter, advancing toward a 2.1 million address long-term target.
• The company is acquiring Granite State Communications, a fully fibered operator with 11,000+ service addresses adjacent to existing markets, with the deal expected to close in Q3.
• TDS remains disciplined on share buybacks, ending the quarter with $520 million available for repurchases but making no buys during the period.