Array (AD) rises after EBITDA beat offsets revenue, EPS misses

Array (NYSE: AD) shares rose 13.2% to close at $55.83 after the wireless telecommunications provider reported first-quarter results showing sharply higher profitability despite missing revenue and earnings estimates. Revenue fell 94.2% year over year to $52.01 million, below analyst expectations. GAAP earnings were $2.06 a share, 44.2% short of consensus. Investors focused on adjusted EBITDA, which beat estimates by nearly 24%, and operating margin, which expanded to 309% from 4.6% a year earlier. The stock is up 3.4% in 2026 but remains 27.5% below its 52-week high of $77.01 reached in August 2025. Four months earlier, Array completed the sale of some spectrum licenses to AT&T for $1.018 billion and declared a special cash dividend of $10.25 a share, payable February 02, 2026, to holders of record as of January 23, 2026.