U.S. Cellular(US:USM)2025-11-07 12:34Financial Performance - Array reported total operating revenues of $47.1 million for Q3 2025, an 83% increase from $25.7 million in Q3 2024[3] - Net income attributable to Array shareholders for Q3 2025 was $108.8 million, compared to a net loss of $(95.9) million in Q3 2024[3] - Array's operating income loss improved by 67% year-over-year, from $(160.2) million in Q3 2024 to $(53.3) million in Q3 2025[20] - Basic earnings per share from continuing operations attributable to Array shareholders was $1.26 for Q3 2025, compared to $(1.12) in Q3 2024[22] - Net income from continuing operations for the nine months ended September 30, 2025, was $130,503, compared to a loss of $92,296 in the same period of 2024[24] - Net income from continuing operations (GAAP) for the three months ended September 30, 2025, was $109,920,000[34] - Adjusted Free Cash Flow from continuing operations (Non-GAAP) amounted to $45,925,000[34] Revenue Sources - Site rental revenue increased by 68% year-over-year, driven by the new T-Mobile Master Lease Agreement (MLA) that commenced on August 1, 2025[5] - Array has closed or signed agreements to monetize 70% of its spectrum portfolio, with additional spectrum sales expected to yield $178 million in proceeds[5][6] Assets and Liabilities - Total current assets decreased to $352,244 from $1,344,870 as of December 31, 2024[27] - Total assets decreased significantly to $4,918,327 from $10,448,981 as of December 31, 2024[29] - Current liabilities decreased to $539,029 from $883,771 as of December 31, 2024[29] - Long-term debt decreased to $671,902 from $1,201,725 as of December 31, 2024[29] - The company issued $325,000 in long-term debt during the nine months ended September 30, 2025[24] Cash Flow and Expenditures - Cash provided by operating activities for discontinued operations was $380,388, down from $781,019 in the previous year[24] - Cash and cash equivalents increased to $325,626 from $143,730 as of December 31, 2024[27] - Capital expenditures from continuing operations for Q3 2025 were $7.9 million[17] Impairments and Expenses - The company reported a loss on impairment of licenses amounting to $47,679 for the nine months ended September 30, 2025[31] - Loss on impairment of licenses was reported at $47,679,000[34] - The company incurred expenses related to strategic alternatives review amounting to $489,000[34] - Depreciation, amortization, and accretion expenses were $11,868,000[34] - Short-term imputed spectrum lease income was a deduction of $30,413,000[34] - Maintenance and other capital expenditures resulted in a deduction of $2,374,000[34] Leadership Changes - Anthony Carlson will become President and CEO of Array effective November 16, 2025, succeeding Doug Chambers[9] Dividends and Distributions - The company paid a special dividend of $23 per share on August 19, 2025[10] - Distributions from unconsolidated entities totaled $61,794,000[34] - Equity in earnings of unconsolidated entities showed a loss of $69,811,000[34] Asset Disposals - The net gain on asset disposals was $707,000[34]