Exhibit 99.1
NEWS RELEASE
array_logoxfinalxsm-2a.jpg

As previously announced, Array will hold a teleconference on November 6, 2026, at 9:00 a.m. CT. Listen to the call live via the Events & Presentations page of investors.arrayinc.com.

Array reports third quarter 2026 results
Affirms guidance for 2026


CHICAGO (November 6, 2026) — Array Digital Infrastructure, Inc. (NYSE:AD) reported third quarter operating results.
“As Array marks its first year as a tower company, we continue to make meaningful progress against our 2026 strategic priorities,” said Anthony Carlson, President and CEO. “Our team remains intensely focused on maximizing the value of our tower portfolio by driving tenant growth and enhancing operational efficiency. These efforts are strengthening the earnings power of our assets and positioning the company for long-term value creation."
Highlights*
•Optimizing tower operations
◦Site rental revenues grew 14% year over year
◦Delivered consecutive quarter-over-quarter colocation growth
•Continuing to close pending sales of wireless spectrum
◦Received regulatory approval for remaining pending transactions in October, closings remain subject to FCC finality and other customary closing conditions
•Reaffirming 2026 financial guidance
* Comparisons are 3Q’25 to 3Q’26 unless otherwise noted.
Array reported total operating revenues from continuing operations of $53.9 million for the third quarter of 2026, versus $47.1 million for the same period one year ago. Net income attributable to Array shareholders and diluted earnings per share from continuing operations were $69.6 million and $0.81, respectively, for the third quarter of 2026 compared to $108.8 million and $1.25, respectively, in the same period one year ago.
Pending transactions
Subsequent to the August 1, 2025 close of the sale of its wireless operations, Array reached additional agreements with T-Mobile for the sale of spectrum. A significant portion of these closed in May 2026 with approximately $30 million related to 600 MHz and 700 MHz licenses remaining. These remaining transactions received regulatory approval on October 7, 2026 and are expected to close in 2026, subject to FCC finality and other customary closing conditions.
Recent Development
On May 7, 2026, TDS delivered to the Array Board of Directors a letter setting forth a non-binding proposal to acquire all of the outstanding Array Common Shares that are not owned by TDS (the “Array Proposal”). On September 1, 2026, TDS announced that it is no longer pursuing the Array Proposal. For additional information, see TDS' Current Report on Form 8-K filed with the U.S. Securities and Exchange Commission on September 2, 2026.
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2026 Estimated Results

Array’s current estimates of full-year 2026 results are shown below. Such estimates represent management’s view as of November 6, 2026 and should not be assumed to be current as of any future date. Array undertakes no duty to update such estimates, whether as a result of new information, future events, or otherwise. There can be no assurance that final results will not differ materially from estimated results.
2026 Estimated Results
PreviousCurrent
(Dollars in millions)
Total operating revenues$205-$215Unchanged
Adjusted OIBDA1 (Non-GAAP)
$60-$75Unchanged
Adjusted EBITDA1 (Non-GAAP)
$220-$235Unchanged
Capital expenditures$25-$35Unchanged

The following table reconciles EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measures, Net income from continuing operations or Income before income taxes. In providing 2026 estimated results, Array has not completed the below reconciliation to Net income because it does not provide guidance for income taxes. Although potentially significant, Array believes that the impact of income taxes cannot be reasonably predicted; therefore, Array is unable to provide such guidance.
Actual Results
2026 Estimated ResultsNine Months Ended
September 30, 2026		Year Ended
December 31, 2025
(Dollars in millions)
Net income from continuing operations (GAAP)N/A$587 $172 
Add back:
Income tax expense (benefit)N/A138 (31)
Income before income taxes (GAAP)$775-$790$726 $141 
Add back or deduct:
Interest expense45 29 28 
Depreciation, amortization and accretion50 40 48 
EBITDA (Non-GAAP)1
$870-$885$795 $218 
Add back or deduct:
Expenses related to strategic alternatives review— 14 2 
Loss on impairment of licenses— — 48 
(Gain) loss on asset disposals, net— 6 2 
(Gain) loss on license sales and exchanges, net(585)(566)(6)
Short-term imputed spectrum lease income(65)(66)(69)
Adjusted EBITDA (Non-GAAP)1
$220-$235$182 $194 
Deduct:
Equity in earnings of unconsolidated entities145 116 174 
Interest and dividend income15 15 19 
Adjusted OIBDA (Non-GAAP)1
$60-$75$51 $1 
Numbers may not foot due to rounding.

1EBITDA, Adjusted EBITDA and Adjusted OIBDA are defined as net income from continuing operations adjusted for the items set forth in the reconciliation above. EBITDA, Adjusted EBITDA and Adjusted OIBDA are not measures of financial performance under Generally Accepted Accounting Principles in the United States (GAAP) and should not be considered as alternatives to Net income or Cash flows from operating activities, as indicators of cash flows or as measures of liquidity. Array does not intend to imply that any such items set forth in the reconciliation above are infrequent or unusual; such items may occur in the future. Management uses Adjusted EBITDA and Adjusted OIBDA as measurements of profitability, and therefore reconciliations to Net income are deemed appropriate. Management believes Adjusted EBITDA and Adjusted OIBDA are useful measures of Array's operating results before significant recurring non-cash charges, expenses related to strategic alternatives review, gains and losses, and other items as presented above as they provide additional relevant and useful information to investors and other users of Array's financial data in evaluating the effectiveness of its operations and underlying business trends in a manner that is consistent with management’s evaluation of business performance. Adjusted EBITDA shows adjusted earnings before interest, taxes, depreciation, amortization and accretion, gains and losses, expenses related to the strategic alternatives review and short-term imputed spectrum lease income, while Adjusted OIBDA reduces this measure further to exclude Equity in earnings of unconsolidated entities and Interest and dividend income in order to more effectively show the performance of operating activities excluding investment activities.
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Conference Call Information
Array will hold a conference call on November 6, 2026 at 9:00 a.m. CT.
▪Access the live call on the Events & Presentations page of investors.arrayinc.com or at
https://events.q4inc.com/attendee/505221542

Before the call, certain financial and statistical information to be discussed during the call will be posted to investors.arrayinc.com. The call will be archived on the Events & Presentations page of investors.arrayinc.com.
About Array
Array leases tower space to tenants and provides ancillary services, holds noncontrolling interests in primarily wireless operating companies and holds certain wireless spectrum licenses. Array owns 4,455 towers in 19 states and enables the deployment of 5G and other wireless technologies throughout the country. As of September 30, 2026, Telephone and Data Systems, Inc. owned approximately 81.9% of Array.
Contacts
John Toomey, Treasurer and Vice President - Corporate Relations
john.toomey@tdsinc.com

Karen Samples, Corporate Finance and Investor Relations Senior Manager
karen.samples@tdsinc.com

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about Array's plans, beliefs, estimates, and expectations. These statements are based on current estimates, projections, and assumptions, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to: the manner in which Array's remaining business is conducted; strategic decisions regarding the tower business; whether the additional spectrum license sales to T-Mobile are consummated; whether Array can monetize its remaining spectrum assets; competition in the tower industry; economic and business risks associated with fixed rate annual escalators on colocation revenue contracts; Array's reliance on a small number of tenants for a substantial portion of its revenue; the ability to attract people of outstanding talent; inability to protect rights to the land under towers; changes in demand, consumer preferences and perceptions, price competition, or cost; advances or changes in technology; impacts of costs, integration issues or other factors associated with acquisitions, divestitures or exchanges of properties; uncertainties in Array's future cash flows and liquidity and access to the capital markets; the ability to make payments on indebtedness or comply with the terms of debt covenants; conditions in the U.S. telecommunications industry; the value of assets and investments, including significant investments in wireless operating entities that Array does not control; pending and future litigation; cyber-attacks or other breaches of network or information technology security; control by TDS; disruption in credit or other financial markets; deterioration of U.S. or global economic conditions; and extreme weather events. Investors are encouraged to consider these and other risks and uncertainties that are more fully described under “Risk Factors” in the most recent filing of Array's Form 10-K as updated by any Form 10-Q filed subsequent to such Form 10-K.
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Array Digital Infrastructure, Inc.
Summary Operating Data (Unaudited)
As of or for the Quarter Ended9/30/20266/30/20263/31/202612/31/20259/30/2025
Capital expenditures from continuing operations (thousands)$3,915 $3,895 $8,645 $12,933 $7,927 
Owned towers4,455 4,456 4,452 4,450 4,449 
Number of colocations1
4,372 4,362 4,290 4,572 4,517 
Tower tenancy rate2
0.98 0.98 0.961.031.02 
1Represents instances where a third-party leases space on a company-owned tower. Includes T-Mobile MLA committed site minimum of 2,015. Excludes Interim Sites whereby T-Mobile is leasing up to 1,800 sites for a period of up to 30 months subject to the terms and conditions of the MLA. As of March 31, 2026, the Number of colocations and the Tower tenancy rate exclude DISH Wireless.
2Calculated as total number of colocations divided by total number of towers. Includes T-Mobile MLA committed site minimum of 2,015. Excludes Interim Sites whereby T-Mobile is leasing up to 1,800 sites for a period of up to 30 months subject to the terms and conditions of the MLA. As of March 31, 2026, the Number of colocations and the Tower tenancy rate exclude DISH Wireless. Normalized to exclude DISH, tenancy ratios would have been 0.95 and 0.94 for December 31, 2025 and September 30, 2025, respectively.
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Array Digital Infrastructure, Inc.
Consolidated Statement of Operations Highlights
(Unaudited)
Three Months Ended
September 30,		Nine Months Ended
September 30,
202620252026
vs. 2025		202620252026
vs. 2025
(Dollars and shares in thousands, except per share amounts)
Operating revenues
Site rental$52,475 $45,838 14 %$156,674 $99,663 57 %
Services1,395 1,281 9 %3,278 2,969 10 %
Total operating revenues53,870 47,119 14 %159,952 102,632 56 %
Operating expenses
Cost of operations (excluding Depreciation, amortization and accretion reported below)23,349 20,976 11 %68,455 56,662 21 %
Selling, general and administrative18,200 20,525 (11)%53,851 69,063 (22)%
Depreciation, amortization and accretion13,405 11,868 13 %40,437 35,860 13 %
Loss on impairment of licenses— 47,679 N/M— 47,679 N/M
(Gain) loss on asset disposals, net1,233 707 74 %5,946 620 N/M
(Gain) loss on license sales and exchanges, net9 (1,323)N/M(566,459)(6,123)N/M
Total operating expenses56,196 100,432 (44)%(397,770)203,761 N/M
Operating income (loss)(2,326)(53,313)96 %557,722 (101,129)N/M
Other income (expense)
Equity in earnings of unconsolidated entities41,009 69,811 (41)%116,144 147,453 (21)%
Interest and dividend income4,442 8,909 (50)%15,095 15,267 (1)%
Interest expense(10,972)(8,855)(24)%(29,013)(16,233)(79)%
Short-term imputed spectrum lease income7,669 30,413 (75)%65,639 30,413 N/M
Other, net35 254 (86)%9 253 (97)%
Total other income42,183 100,532 (58)%167,874 177,153 (5)%
Income before income taxes39,857 47,219 (16)%725,596 76,024 N/M
Income tax expense (benefit)(30,121)(62,701)52 %138,147 (54,479)N/M
Net income from continuing operations69,978 109,920 (36)%587,449 130,503 N/M
Less: Net income from continuing operations attributable to noncontrolling interests, net of tax395 1,084 (64)%4,264 2,210 93 %
Net income from continuing operations attributable to Array shareholders69,583 108,836 (36)%583,185 128,293 N/M
Net income (loss) from discontinued operations(788)(130,492)99 %22,290 (99,193)N/M
Less: Net income from discontinued operations attributable to noncontrolling interests, net of tax— 16,809 N/M189 17,822 (99)%
Net income (loss) from discontinued operations attributable to Array shareholders(788)(147,301)99 %22,101 (117,015)N/M
Net income (loss)69,190 (20,572)N/M609,739 31,310 N/M
Less: Net income attributable to noncontrolling interests, net of tax395 17,893 (98)%4,453 20,032 (78)%
Net income (loss) attributable to Array shareholders$68,795 $(38,465)N/M$605,286 $11,278 N/M
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Array Digital Infrastructure, Inc.
Consolidated Statement of Operations Highlights
(Unaudited)
Three Months Ended
September 30,		Nine Months Ended
September 30,
202620252026
vs. 2025		202620252026
vs. 2025
(Dollars and shares in thousands, except per share amounts)
Basic weighted average shares outstanding86,489 86,251 —86,462 85,726 1 %
Basic earnings per share from continuing operations attributable to Array shareholders$0.81 $1.26 (36)%$6.74 $1.50 N/M
Basic earnings (loss) per share from discontinued operations attributable to Array shareholders$(0.01)$(1.71)99 %$0.26 $(1.37)N/M
Basic earnings (loss) per share attributable to Array shareholders$0.80 $(0.45)N/M$7.00 $0.13 N/M
Diluted weighted average shares outstanding86,523 86,846 —86,506 87,842 (2)%
Diluted earnings per share from continuing operations attributable to Array shareholders$0.81 $1.25 (36)%$6.74 $1.46 N/M
Diluted earnings (loss) per share from discontinued operations attributable to Array shareholders$(0.01)$(1.69)99 %$0.26 $(1.33)N/M
Diluted earnings (loss) per share attributable to Array shareholders$0.80 $(0.44)N/M$7.00 $0.13 N/M

N/M - Percentage change not meaningful
6

Array Digital Infrastructure, Inc.
Consolidated Statement of Cash Flows
(Unaudited)
Nine Months Ended
September 30,
20262025
(Dollars in thousands)
Cash flows from operating activities
Net income$609,739 $31,310 
Net income (loss) from discontinued operations22,290 (99,193)
Net income from continuing operations587,449 130,503 
Add (deduct) adjustments to reconcile net income to net cash flows from operating activities
Depreciation, amortization and accretion40,437 35,860 
Bad debts expense253 1,655 
Stock-based compensation expense879 1,560 
Deferred income taxes, net(200,187)(81,087)
Equity in earnings of unconsolidated entities(116,144)(147,453)
Distributions from unconsolidated entities89,584 149,732 
Loss on impairment of licenses— 47,679 
(Gain) loss on asset disposals, net5,946 620 
(Gain) loss on license sales and exchanges, net(566,459)(6,123)
Other operating activities561 338 
Changes in assets and liabilities from operations
Accounts receivable8,635 (5,157)
Accounts payable(10,487)22,231 
Customer deposits and deferred revenues(64,239)(28,880)
Accrued taxes57,916 (11,713)
Accrued interest429 2,372 
Other assets and liabilities(22,764)(89,627)
Net cash provided by (used in) operating activities - continuing operations(188,191)22,510 
Net cash provided by (used in) operating activities - discontinued operations(6,375)380,388 
Net cash provided by (used in) operating activities(194,566)402,898 
Cash flows from investing activities
Cash paid for additions to property, plant and equipment(21,014)(18,597)
Cash paid for licenses— (4,175)
Cash received from divestitures2,185,801 5,439 
Other investing activities— 1,301 
Net cash provided by (used in) investing activities - continuing operations2,164,787 (16,032)
Net cash provided by investing activities - discontinued operations— 2,462,399 
Net cash provided by investing activities 2,164,787 2,446,367 
Cash flows from financing activities
Issuance of long-term debt— 325,000 
Repayment of long-term debt(2,031)(875,250)
Tax withholdings, net of cash receipts, for stock-based compensation awards(2,068)(63,506)
Repurchase of Common Shares— (21,360)
Dividends paid to Array shareholders(1,836,737)(1,986,719)
Payment of debt issuance costs— (5,668)
Distributions to noncontrolling interests(8,624)(26,811)
Payments to acquire additional interest in subsidiaries(593)— 
Other financing activities— (7,930)
Net cash used in financing activities - continuing operations(1,850,053)(2,662,244)
Net cash used in financing activities - discontinued operations— (20,537)
Net cash used in financing activities(1,850,053)(2,682,781)
Net increase in cash, cash equivalents and restricted cash120,168 166,484 
Cash, cash equivalents and restricted cash
Beginning of period113,400 159,142 
End of period$233,568 $325,626 
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Array Digital Infrastructure, Inc.
Consolidated Balance Sheet Highlights
(Unaudited)
ASSETS
September 30, 2026December 31, 2025
(Dollars in thousands)
Current assets
Cash and cash equivalents$233,568 $113,400 
Accounts receivable, net11,897 21,656 
Prepaid expenses2,330 3,216 
Other current assets2,011 6,515 
Total current assets249,806 144,787 
Non-current assets held for sale57,366 1,591,675 
Licenses1,584,674 1,642,187 
Investments in unconsolidated entities439,585 412,608 
Property, plant and equipment, net384,149 388,999 
Operating lease right-of-use assets459,705 472,995 
Other assets and deferred charges32,444 24,837 
Total assets$3,207,729 $4,678,088 
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Array Digital Infrastructure, Inc.
Consolidated Balance Sheet Highlights
(Unaudited)
LIABILITIES AND EQUITY
September 30, 2026December 31, 2025
(Dollars in thousands, except per share amounts)
Current liabilities
Current portion of long-term debt$8,125 $4,063 
Accounts payable35,671 38,395 
Customer deposits and deferred revenues20,011 85,945 
Accrued taxes93,152 16,884 
Accrued compensation1,365 4,322 
Short-term operating lease liabilities16,538 15,294 
Current liabilities of discontinued operations24,304 20,242 
Other current liabilities26,087 14,843 
Total current liabilities225,253 199,988 
Deferred liabilities and credits
Deferred income tax liability, net173,221 387,030 
Long-term operating lease liabilities499,418 509,876 
Other deferred liabilities and credits307,342 336,379 
Long-term debt, net665,016 670,258 
Total equity1,337,479 2,574,557 
Total liabilities and equity$3,207,729 $4,678,088 
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Array Digital Infrastructure, Inc.
EBITDA, Adjusted EBITDA, Adjusted OIBDA and AFCF Reconciliations
(Unaudited)

EBITDA, Adjusted EBITDA and Adjusted OIBDA

The following table reconciles EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measure, Net income from continuing operations and Income before income taxes.

Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
(Dollars in thousands)
Net income from continuing operations (GAAP)$69,978 $109,920 $587,449 $130,503 
Add back:
Income tax expense (benefit)(30,121)(62,701)138,147 (54,479)
Income before income taxes (GAAP)39,857 47,219 725,596 76,024 
Add back:
Interest expense10,972 8,855 29,013 16,233 
Depreciation, amortization and accretion13,405 11,868 40,437 35,860 
EBITDA (Non-GAAP)64,234 67,942 795,046 128,117 
Add back or deduct:
Expenses related to strategic alternatives review5,934 489 13,512 2,349 
Loss on impairment of licenses— 47,679 — 47,679 
(Gain) loss on asset disposals, net1,233 707 5,946 620 
(Gain) loss on license sales and exchanges, net9 (1,323)(566,459)(6,123)
Short-term imputed spectrum lease income(7,669)(30,413)(65,639)(30,413)
Adjusted EBITDA (Non-GAAP)63,741 85,081 182,406 142,229 
Deduct:
Equity in earnings of unconsolidated entities41,009 69,811 116,144 147,453 
Interest and dividend income4,442 8,909 15,095 15,267 
Other, net35 254 9 253 
Adjusted OIBDA (Non-GAAP)$18,255 $6,107 $51,158 $(20,744)
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Adjusted Free Cash Flow (AFCF)

AFCF is a non-GAAP measure defined as Net income from continuing operations adjusted for the items set forth in the reconciliation below. AFCF is not a measure of financial performance under GAAP and should not be considered as an alternative to Net income from continuing operations or as an indicator of cash flows.

Management believes AFCF is a useful measure of Array’s cash generated from operations and its noncontrolling investment interests. The following table reconciles AFCF to the corresponding GAAP measure, Net income from continuing operations. This measure is presented following the sale of Array's wireless operations to T-Mobile on August 1, 2025, at which time the primary business operations for Array changed from providing wireless communications services to a standalone tower company.
Nine Months Ended September 30, 2026
(Dollars in thousands)
Net income from continuing operations (GAAP)$587,449 
Add back or deduct:
Income tax expense138,147 
Cash paid for income taxes1
(274,270)
Stock-based compensation expense879 
Short-term imputed spectrum lease income(65,639)
Amortization of deferred debt charges991 
Equity in earnings of unconsolidated entities(116,144)
Distributions from unconsolidated entities89,584 
(Gain) loss on license sales and exchanges, net(566,459)
(Gain) loss on asset disposals, net5,946 
Depreciation, amortization and accretion40,437 
Expenses related to strategic alternatives review13,512 
Straight line and other non-cash revenue adjustments(14,327)
Straight line expense adjustment3,070 
Maintenance and other capital expenditures(5,172)
Adjusted Free Cash Flow from continuing operations (Non-GAAP)$(161,996)
1Substantially all of the cash paid for income taxes are related to the sale of various wireless spectrum licenses in 2026.
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