Earnings Per Share

3 Months Ended

Mar. 31, 2026

Note 4 Earnings Per Share

Basic earnings (loss) per share attributable to Array shareholders is computed by dividing Net income (loss) attributable to Array shareholders by the weighted average number of Common Shares outstanding during the period. Diluted earnings (loss) per share attributable to Array shareholders is computed by dividing Net income (loss) attributable to Array shareholders by the weighted average number of Common Shares outstanding during the period adjusted to include the effects of potentially dilutive securities. Potentially dilutive securities primarily include incremental shares issuable upon the exercise of outstanding stock options and the vesting of performance and restricted stock units, as calculated using the treasury stock method.

The amounts used in computing basic and diluted earnings (loss) per share attributable to Array shareholders were as follows:


	Three Months Ended March 31,
	2026		2025
(Dollars and shares in thousands, except per share amounts)
Net income from continuing operations attributable to Array shareholders	$	179,831	$	4,684
Net income (loss) from discontinued operations attributable to Array shareholders	(2,036)		13,563
Net income attributable to Array shareholders	$	177,795	$	18,247

Weighted average number of shares used in basic earnings (loss) per share	86,416		85,137
Effects of dilutive securities	72		3,029
Weighted average number of shares used in diluted earnings (loss) per share	86,488		88,166

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 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

Certain Common Shares issuable upon the exercise of stock options or vesting of performance and restricted stock units were not included in weighted average diluted shares outstanding for the calculation of Diluted earnings (loss) per share attributable to Array shareholders because their effects were antidilutive. The number of such Common Shares excluded was less than 0.1 million and 0.1 million for the three months ended March 31, 2026 and 2025, respectively.

ARRAY DIGITAL INFRASTRUCTURE, INC. 10-Q