Array Technologies

Array Technologies, Inc. manufactures ground-mounting systems used in solar energy projects. The company sells its products to engineering, procurement and construction firms that build solar energy projects and to large solar developers, independent power producers and utilities, master supply agreements or multi-year procurement contracts. It has offices in Europe, Central America, and Australia. The company's products include DuraTrack and SmarTrack. Array Technologies was founded by Ronald P. Corio in 1989 and is headquartered in Albuquerque, NM.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Array Technologies (ARRY) surpasses expectations, eyes growth amid challenges

Array Technologies delivered a strong financial performance in Q4 and full-year 2022, exceeding revenue and EBITDA expectations.
The company anticipates continued growth in 2023, focusing on maintaining free cash flow and investing in new product development.
Challenges include uncertainties around market conditions and regulatory definitions, while opportunities lie in expanding into diverse markets and optimizing operations.
Overall, Array Technologies remains well-positioned for growth, supported by a dedicated team and strategic investments in innovation and efficiency.

Array Technologies reports strong Q1 earnings, eyes future solar growth

Array Technologies had a robust Q1 2023 despite order book reduction, showcasing operational improvements and cost efficiencies. Challenges include delays in order conversions and gross margin impact on Legacy Array side. The company is optimistic about future growth potential and well-prepared for upcoming solar adoption phases.

Array Technologies reports robust Q2 earnings, eyes sustainable growth

Array Technologies excelled in Q2 2023, showcasing strong financial performance and strategic initiatives. Despite short-term challenges, the company remains focused on innovation, cost efficiency, and market positioning for future growth.

Array Technologies reports resilient Q3 performance amidst project challenges

Array Technologies showcased solid performance in Q3 2023, maintaining profitability and free cash flow expectations despite challenges in project timing.
The company's strengths lie in its strong pipeline with long-term agreements, expansion plans, and continued investment in product development.
While facing challenges from project delays and market dynamics, Array Technologies sees opportunities in cost reduction, new product demand, and debt reduction strategies.

Array Technologies reports record 2023 performance, eyes market growth

Array Technologies delivered a strong performance in 2023, exceeding revenue guidance and doubling adjusted EBITDA.
While facing challenges such as project delays and supply chain issues, the company is focused on cost reductions and customer benefits.
With a positive outlook for the back half of the year, Array is well-positioned to capitalize on market opportunities and drive growth.

Array Technologies exceeds Q1 revenue expectations amidst industry challenges

Array Technologies delivered strong Q1 performance, surpassing revenue expectations and maintaining healthy margins and EBITDA.
While facing challenges like project delays and industry uncertainties, Array's strategic strengths in product offerings and customer engagement position it well for growth.
The company's focus on international expansion, new product designs, and operational efficiencies presents promising opportunities for future success.

Array Technologies excels in Q3, anticipates strong growth in 2025

Array Technologies anticipates growth in 2025, supported by a positive outlook and active engagement with customers to navigate market challenges. The financial guidance for 2024 includes record annual adjusted gross margin, reduced effective tax rate, and increased free cash flow guidance.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Plug Power

Shoals Technologies Group

From transportation to manufacturing consumer products, energy is at the core of our lives. Within the energy market, renewable energy has grown rapidly as the global consciousness of climate change is increasing.

3 Renewable Energy Stocks to Buy at 52-Week Lows in July

Canadian Solar

First Solar

Undervalued solar stocks are quality investments as they are tapping a market expected to grow 7.3% yearly until 2029. In 2023, solar energy generated 5.6% of U.S. power, up from 4.8% a year earlier; California has the most solar power, 27.3%.

The 3 Most Undervalued Solar Stocks to Buy in July 2024

Citi analysts upgraded shares of the solar energy company to Buy from Neutral.

Array Technologies Charges Higher. A New Bull Sees a Bright Future.

Sunnova Energy International Inc

Solar stocks have been relatively hard hit due to the ongoing quantitative tightening that is resulted from high inflation. While the sector has suffered as the economy tackles inflation, a silver lining appears to be emerging.

3 Solar Stocks Best Positioned to Benefit From AI

Solar stocks to buy on the dip are witnessing renewed enthusiasm with the recent positive economic developments. May's cooling inflation rates have weighed down U.S. Treasury yields, ramping up speculation around a potential September interest rate cut.

3 Solar Stocks to Buy on the Dip: June 2024

Some of the best solar stocks to buy might not have performed well in the last 12 to 18 months. However, the industry will undoubtedly continue to grow at a steady pace beyond the current decade.

The 3 Best Solar Stocks to Buy in June 2024

ALBUQUERQUE, N.M., June 12, 2024 (GLOBE NEWSWIRE) -- Today, Kevin G.

Array CEO Kevin Hostetler Testifies Before Congress on the Solar Manufacturing Boom from the Inflation Reduction Act

Chief Financial Officer Kurt Wood is stepping down from his position at Array effective June 30.

Array Technologies Stock Slides. CFO Departure Is a ‘Surprise,' Analyst Says.

Chief Financial Officer, Kurt Wood, will step down from his position effective June 30, 2024 Chief Financial Officer, Kurt Wood, will step down from his position effective June 30, 2024

Array Technologies Announces Departure of Chief Financial Officer

ALBUQUERQUE, N.M., June 05, 2024 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY) (“Array” or the “Company”), a leading provider of tracker solutions and services for utility-scale solar energy projects, has named Neil Manning as president and chief operating officer.

Array Technologies Appoints Neil Manning as President and Chief Operating Officer

NextEra Energy

2023 was a very tough year for solar stocks overall. The Federal Reserve's decision to hike interest rates several times made borrowing much more expensive, resulting in lower profitability for solar firms.

3 Sleeper Solar Stocks That You Will Wish You Bought Sooner

Lear

Valaris Ltd

Investors, weary of volatility due to economic uncertainty and geopolitical tensions, have been seeking stability and growth potential in their stocks. When it comes to portfolio performance, stocks with analyst upgrades can be important as endorsements by brokers.

Wall Street's New Darlings: 3 Stocks Soaking Up Analyst Love

Cameco

Constellation Energy Corp

Clearway Energy

Speculative green energy stocks could come back into vogue this year. Many countries around the world are far behind their carbon emissions targets, and the urgency to address the climate crisis may energize investment in these companies.

Green Energy Gambles: 7 Speculative Plays for the Planet-Conscious Investor

Array Technologies, Inc. (NASDAQ:ARRY ) Q1 2024 Earnings Conference Call May 9, 2024 5:00 PM ET Company Participants Sarah Sheppard - Investor Relations Kevin Hostetler - Chief Executive Officer Kurt Wood - Chief Financial Officer Conference Call Participants Mark Strouse - JPMorgan Christine Cho - Barclays Brian Lee - Goldman Sachs Joe Osha - Guggenheim Partners Jordan Levy - Triust Securities Kashy Harrison - Piper Sandler Vikram Bagri - Citi Dushyant Ailani - Jefferies Philip Shen - ROTH MKM Maheep Mandloi - Mizuho Donovan Schafer - Northland Capital Markets Tom Curran - Seaport Global Securities Colin Rusch - Oppenheimer Andrew Percoco - Morgan Stanley Sophie Karp - KeyBanc Capital Markets Moses Sutton - BNP Paribas Dylan Nassano - Wolfe Research Jeff Osborne - TD Cowen Operator Greetings, and welcome to the Array Technologies' First Quarter 2024 Earnings Call. At this time, all participants are in a listen-only.

Array Technologies, Inc. (ARRY) Q1 2024 Earnings Call Transcript

Array Technologies, Inc. (ARRY) came out with quarterly earnings of $0.06 per share, beating the Zacks Consensus Estimate of a loss of $0.04 per share. This compares to earnings of $0.25 per share a year ago.

Array Technologies, Inc. (ARRY) Tops Q1 Earnings Estimates

First Quarter 2024 Highlights Revenue of $153.4 million Gross Margin of 35.9% Adjusted gross margin of 38.3%(1) Net loss to common shareholders of $11.3 million Adjusted EBITDA(1) of $26.2 million Basic and diluted net loss per share of $0.07 Adjusted diluted net income per share(1) of $0.06 ALBUQUERQUE, N.M., May 09, 2024 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY) (“Array” or “the Company”), a leading provider of tracker solutions and services for utility-scale solar energy projects, today announced financial results for its first quarter ended March 31, 2024.

Array Technologies, Inc. Reports Financial Results for the First Quarter 2024 – Achieves record gross margin and $2.1 billion of executed contracts and awarded orders

ALBUQUERQUE, N.M., May 06, 2024 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY), a leading provider of solar tracking solutions, confirmed in a new study that its safe, passive wind stow solution can significantly optimize energy production.

Array and DNV Release Report on Solar Tracker Wind Stow Strategies' Energy Impact

Sunrun

2023 was not a good year for solar stocks. As the S&P 500 gained over 25%, solar ETFs like the Invesco Solar ETF are down nearly 40%.

Stock Market Crash Alert: 3 Must-Buy Solar Stocks When Prices Plunge

Array Technologies (ARRY) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Array Technologies, Inc. (ARRY) Expected to Beat Earnings Estimates: What to Know Ahead of Q1 Release

Enphase Energy

Investors with an interest in Solar stocks have likely encountered both Array Technologies, Inc. (ARRY) and Enphase Energy (ENPH). But which of these two stocks is more attractive to value investors?

ARRY vs. ENPH: Which Stock Should Value Investors Buy Now?

ALBUQUERQUE, N.M., April 26, 2024 (GLOBE NEWSWIRE) -- U.S. Secretary of Energy Jennifer Granholm, U.S. Senators Martin Heinrich and Ben Ray Luján, Albuquerque Mayor Tim Keller, and Bernalillo County Commission Chair Barbara Baca joined today with Array Technologies (NASDAQ: ARRY) to announce the groundbreaking of a new $50+ million manufacturing campus in Bernalillo County, New Mexico.

Array Hosts U.S. Energy Secretary Granholm, New Mexico Senators to Break Ground on New Solar Manufacturing Facility

POWAY, Calif.--(BUSINESS WIRE)--EPC Power, a leading U.S. provider of high-performance, utility-scale, smart inverters for the solar and storage industries, announced today that Jim Fusaro has been appointed by the Board of Directors and assumed the position of Chief Executive Officer effective April 15, 2024. Fusaro brings deep industry and management experience to lead the company through its next stage of growth, furthering its growing international customer base and expansion into new marke.

EPC Power names Jim Fusaro as CEO

Solar stocks might boom in 2024 as the Federal Reserve considers reducing rates three times after hiking them 11 times in a year and a half. Additionally, with inflation decreasing, markets are bullish, but solar equities are not.

The Power of the Sun: 3 Solar Energy Stocks Primed for 5X Gains

ChargePoint Holdings

Polestar Automotive Holding UK PLC

Tesla

Tesla is laying off 10% of its staff and that doesn't bode well for EV demand. Higher rates that have hurt auto demand and renewable stocks continue to push higher.

Why EV and Renewable Energy Stocks Collapsed This Week

ALBUQUERQUE, N.M., April 18, 2024 (GLOBE NEWSWIRE) -- Array Technologies, Inc. (the “Company” or “Array”) (Nasdaq: ARRY) today announced that the company will release its first quarter 2024 results after the market close on Thursday, May 9th, 2024, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day.

News for Array Technologies Stock (ARRY)