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.

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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.

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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

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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.

Array Technologies, Inc. Announces First Quarter 2024 Earnings Release Date and Conference Call

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Array Technologies (ARRY) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

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ALBUQUERQUE, N.M., March 26, 2024 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY) (“Array” or “the Company”), a global leader in utility-scale solar tracking, is proud to announce the launch of its patented Hail Alert Response, a groundbreaking set of software features designed to autonomously protect solar assets from hail damage.

Array Technologies Launches Hail Alert Response

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Array Technologies, Inc. (ARRY) Q4 2023 Earnings Call Transcript

Array Technologies, Inc. (ARRY) came out with quarterly earnings of $0.21 per share, beating the Zacks Consensus Estimate of $0.11 per share. This compares to earnings of $0.10 per share a year ago.

Array Technologies, Inc. (ARRY) Q4 Earnings and Revenues Top Estimates

Fourth Quarter 2023 Financial Highlights Revenue of $341.6 million Net income to common stockholders of $6.0 million Adjusted EBITDA(1) of $48.2 million Basic and diluted net income per share of $0.04 Adjusted diluted net income per share(1) of $0.21 $49.9 million of 45X benefit earned for 2023 torque tube deliveries; $9.3 million recognized during 2023 in the statement of operations Full Year 2023 Financial Highlights Revenue(2) of $1,576.6 million Net income to common stockholders of $85.5 million Adjusted EBITDA(1) of $288.1 million Basic and diluted net income per share of $0.57 and $0.56 Adjusted diluted net income per share(1) of $1.13 Cash Flow from Operating Activities of $232.0 million Free Cash Flow(3) of $215.0 million Executed contracts and awarded orders at December 31, 2023 totaling $1.8 billion ALBUQUERQUE, N.M., Feb. 27, 2024 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY) (“Array” or “the Company”), a leading provider of tracker solutions, software and services for utility-scale solar energy projects, today announced financial results for its fourth quarter and full year ended December 31, 2023.

Array Technologies, Inc. Reports Financial Results for the Fourth Quarter and Full Year 2023; Full year 2023 net income of $86 million; Record full year Adjusted EBITDA of $288 million

ALBUQUERQUE, N.M., Feb. 22, 2024 (GLOBE NEWSWIRE) -- Array Technologies (NASDAQ: ARRY) (“Array” or “the Company”), a leading manufacturer of utility-scale solar tracking technology, announced a new strategic partnership with Aluminum Products Company (ALUPCO®), a leading aluminum extrusion company in the Middle East and North Africa, to support the growing market for renewable energy projects in the region.

Array Technologies and Alupco® Announce Strategic Partnership to Fuel Growing Renewable Energy Market in the Middle East

Array Technologies, Inc. (ARRY) doesn't possess 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) Reports Next Week: Wall Street Expects Earnings Growth

The latest trading day saw Array Technologies, Inc. (ARRY) settling at $15.20, representing a +1.2% change from its previous close.

Array Technologies, Inc. (ARRY) Exceeds Market Returns: Some Facts to Consider

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In the latest trading session, Array Technologies, Inc. (ARRY) closed at $14.16, marking a -0.07% move from the previous day.

Array Technologies, Inc. (ARRY) Stock Sinks As Market Gains: Here's Why

ALBUQUERQUE, N.M., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Array Technologies, Inc. (the “Company” or “Array”) (Nasdaq: ARRY) today announced that the company will release its fourth quarter and full year 2023 results after the market close on Tuesday, February 27th, 2024, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day.

Array Technologies, Inc. Announces Fourth Quarter and Full Year 2023 Earnings Release Date and Conference Call

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