v3.26.1
Consolidated Statement of Operations - USD ($)
shares in Thousands, $ in Thousands
3 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Operating revenues    
Total operating revenues $ 52,012 $ 26,984
Operating expenses    
Cost of operations (excluding Depreciation and accretion reported below) 21,609 16,290
Selling, general and administrative 12,745 29,202
Depreciation and accretion 12,604 11,993
(Gain) loss on asset disposals, net 904 226
(Gain) loss on license sales and exchanges, net (156,635) (1,100)
Total operating expenses (108,773) 56,611
Operating income (loss) 160,785 (29,627)
Other income (expense)    
Equity in earnings of unconsolidated entities 40,408 35,927
Interest and dividend income 4,223 2,658
Interest expense (7,180) (3,667)
Short-term imputed spectrum lease income 34,200 0
Other, net (14) 0
Total other income 71,637 34,918
Income before income taxes 232,422 5,291
Income tax expense (benefit) 52,398 (192)
Net income from continuing operations 180,024 5,483
Less: Net income from continuing operations attributable to noncontrolling interests, net of tax 193 799
Net income from continuing operations attributable to Array shareholders 179,831 4,684
Net income (loss) from discontinued operations (2,036) 14,202
Less: Net income from discontinued operations attributable to noncontrolling interests, net of tax 0 639
Net income (loss) from discontinued operations attributable to Array shareholders (2,036) 13,563
Net income 177,988 19,685
Less: Net income attributable to noncontrolling interests, net of tax 193 1,438
Net income attributable to Array shareholders $ 177,795 $ 18,247
Basic weighted average shares outstanding (in shares) 86,416 85,137
Basic earnings per share from continuing operations attributable to Array shareholders $ 2.08 $ 0.05
Basic earnings (loss) per share from discontinued operations attributable to Array shareholders (0.02) 0.16
Basic earnings per share attributable to Array shareholders $ 2.06 $ 0.21
Diluted weighted average shares outstanding (in shares) 86,488 88,166
Diluted earnings per share from continuing operations attributable to Array shareholders $ 2.08 $ 0.05
Diluted earnings (loss) per share from discontinued operations attributable to Array shareholders (0.02) 0.16
Diluted earnings per share attributable to Array shareholders $ 2.06 $ 0.21
Site rental    
Operating revenues    
Total operating revenues $ 51,024 $ 26,595
Services    
Operating revenues    
Total operating revenues $ 988 $ 389