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Jun 30
U.S. Cellular Q2 2025 Earnings Report
Array Digital Infrastructure, Inc. reported its second quarter 2025 results, highlighting a name change from U.S. Cellular Corporation, the completion of its wireless operations sale to T-Mobile, and a declared special dividend. The company saw a slight decrease in total operating revenues but a significant increase in net income and diluted EPS compared to the prior year.
Key Takeaways
Array Digital Infrastructure, Inc. (formerly U.S. Cellular) announced its Q2 2025 earnings, with total operating revenues of $916 million, a slight decrease from $927 million in Q2 2024. Net income attributable to Array shareholders surged to $31 million, up from $17 million year-over-year, resulting in diluted earnings per share of $0.36, an 80% increase from $0.20 in the same period last year. The company completed the sale of its wireless operations to T-Mobile for $4.3 billion and declared a $23.00 per share special dividend.
Array Digital Infrastructure, Inc. completed the sale of its wireless operations and select spectrum assets to T-Mobile for $4.3 billion on August 1, 2025.
The company declared a $23.00 per share special dividend payable on August 19, 2025, following the T-Mobile transaction.
Third-party tower revenues increased by 12% compared to the second quarter of the previous year, indicating growth in its core tower business.
Net income attributable to Array shareholders significantly increased by 80% to $31 million, and diluted EPS rose by 81% to $0.36, compared to the second quarter of 2024.
U.S. Cellular
U.S. Cellular
U.S. Cellular Revenue by Segment
Revenue by Segment
Service Revenue
CapyFin.comEquipment Sales Revenue
CapyFin.comWireless Revenue
CapyFin.comTowers Revenue
CapyFin.com Forward Guidance
Array Digital Infrastructure, Inc. is not providing 2025 financial guidance. However, the company anticipates closing pending spectrum transactions with AT&T and Verizon in the second half of 2025 and the third quarter of 2026, respectively. The company aims to grow colocations and revenues, expand margins, and opportunistically monetize its remaining spectrum assets.
Positive Outlook
- Successful completion of the T-Mobile deal provides significant capital and strategic focus.
- Declaration of a substantial special dividend demonstrates commitment to shareholder returns.
- New Master License Agreement with T-Mobile provides strength and stability to the tower revenue stream.
- Excellent opportunity to grow colocations and revenues on its 4,400 towers.
- Expectation to expand margins over time in the tower business.
Challenges Ahead
- No specific 2025 financial guidance provided, leading to uncertainty.
- Reliance on a small number of tenants for a substantial portion of tower revenues poses concentration risk.
- Pending spectrum transactions are subject to regulatory approvals and closing conditions, which could delay or prevent completion.
- Exposure to extreme weather events could impact tower operations and infrastructure.
- Competition in the tower industry could affect growth and profitability.