"ARRAY is off to a great start for 2025 with first quarter high double digits revenue growth compared with the first quarter of 2024, and achieving the second largest quarter of volume shipped since 2023, indicating solid market share recovery and the strength of our execution capabilities. We are now able to provide customers with quotes for our 100% domestic content trackers under Table I of the Inflation Reduction Act ("IRA"), an important milestone for ARRAY, reflecting our continued commitment to suppl ...

Core Insights - ARRAY Technologies, Inc. reported strong revenue growth of high double digits in Q1 2025 compared to Q1 2024, indicating a solid recovery in market share and execution capabilities [3][4] - The company achieved its second-largest volume of shipments since 2023, reflecting increased demand for utility-scale solar solutions [3] - ARRAY is now able to provide quotes for 100% domestic content trackers under the Inflation Reduction Act, enhancing its supply chain resilience amid geopolitical uncertainties [3][4] Financial Performance - Revenue for Q1 2025 was $302.4 million, a significant increase from $153.4 million in Q1 2024 [7][28] - Gross margin was reported at 25.3%, with an adjusted gross margin of 26.5% [7][34] - Net income to common shareholders was $2.3 million, translating to a net income per share of $0.02 [7][28] Guidance and Future Outlook - The company maintains its full-year 2025 guidance, projecting revenue between $1.05 billion and $1.15 billion, and adjusted EBITDA between $180 million and $200 million [5][8] - ARRAY's strong order book reflects an 18% sequential growth in contracting for the quarter, with significant traction in Europe, the Middle East, and Asia [3][4] Operational Highlights - Total executed contracts and awarded orders as of March 31, 2025, amounted to $2.0 billion [7] - The company successfully amended and extended its Revolving Credit Facility, enhancing its liquidity position [7] Cash Flow and Financial Position - Cash and cash equivalents at the end of Q1 2025 were $348.3 million, down from $363.0 million at the end of 2024 [25] - Net cash used in operating activities for Q1 2025 was $(13.1) million, compared to $47.5 million provided in Q1 2024 [31][45]

Core Insights - ARRAY Technologies has expanded its SmarTrack® software to include backtracking and diffuse optimization capabilities for its H250 dual-row tracker, enhancing energy output across various terrains and weather conditions [1][2][3] Company Overview - ARRAY Technologies is a leading global provider of solar tracking technology, focusing on utility-scale and distributed generation customers, with a strong emphasis on manufacturing and technology [4] Product Features - The H250 tracker is designed for challenging site conditions and is widely used in Europe, South America, and Africa, now enhanced with SmarTrack Backtracking and Diffuse capabilities to improve energy production [2][3] - SmarTrack Backtracking utilizes algorithmic training and terrain analysis to reduce shading and maximize energy generation during morning and evening hours [6] - SmarTrack Diffuse allows for high performance during overcast conditions by dynamically adjusting tracker angles to capture more scattered light [6] Market Impact - The new capabilities have been validated in Spain and Brazil and are available for immediate deployment on new and existing H250 projects, optimizing over 5 GW of solar capacity worldwide [3]

Company Performance - Array Technologies, Inc. closed at $5.29, unchanged from the previous session, lagging behind the S&P 500's gain of 0.58% [1] - The company's shares have appreciated by 8.62% over the past month, outperforming the Oils-Energy sector's loss of 8.92% and the S&P 500's loss of 0.84% [1] Earnings Forecast - Array Technologies is expected to release earnings on May 6, 2025, with a predicted EPS of $0.09, indicating a 50% growth compared to the same quarter last year [2] - The Zacks Consensus Estimate for revenue is projecting net sales of $263.11 million, up 71.52% from the year-ago period [2] Full Year Estimates - For the full year, the Zacks Consensus Estimates project earnings of $0.61 per share and revenue of $1.09 billion, reflecting changes of +1.67% and +18.61% respectively from the previous year [3] Analyst Forecast Revisions - Recent revisions to analyst forecasts for Array Technologies should be monitored, as positive estimate revisions indicate optimism about the company's business outlook [4] Valuation Metrics - Array Technologies has a Forward P/E ratio of 8.72, indicating a discount compared to its industry's Forward P/E of 11.21 [7] - The company has a PEG ratio of 0.4, which is in line with the average PEG ratio of the Solar industry at yesterday's closing price [7] Industry Context - The Solar industry, part of the Oils-Energy sector, has a Zacks Industry Rank of 193, placing it in the bottom 23% of all industries [8]

Wall Street expects a year-over-year increase in earnings on higher revenues when Array Technologies, Inc. (ARRY) reports results for the quarter ended March 2025. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on ...

Core Insights - ARRAY Technologies has appointed Brian Pitel as the general manager for Latin America, based in São Paulo, Brazil, to enhance its business relationships and growth in the region [1][3]. Company Overview - ARRAY Technologies is a leading provider of solar tracking technology for utility-scale solar energy projects, focusing on maximizing energy production and delivering value throughout the project lifecycle [5]. Leadership and Experience - Brian Pitel brings over 25 years of experience in technology and renewable energy, with a strong background in the Brazilian and Latin American markets, having previously held significant roles at General Electric [2][4]. - Pitel's expertise includes managing business operations and strategic partnerships, which will be crucial for ARRAY's growth objectives in Latin America [3][4]. Strategic Goals - Pitel will oversee all operations in Brazil and Latin America, aiming to foster efficiency, compliance, and alignment with both regional and global objectives [3]. - The company aims to support existing customers while exploring new market opportunities to advance its mission of providing sustainable solar energy solutions [3][4].

Company Overview - ARRAY Technologies, Inc. is a leading global provider of solar tracking technology for utility-scale and distributed generation customers [3] - The company focuses on maximizing energy production and delivering value throughout the entire lifecycle of solar projects [3] - ARRAY is headquartered in the United States and emphasizes domestic manufacturing, a diversified global supply chain, and a customer-centric approach [3] Upcoming Financial Results - ARRAY will release its first quarter 2025 results before the market opens on May 6, 2025 [1] - A conference call will follow at 8:00 a.m. (Eastern Time) on the same day to discuss the results [1] Conference Call Details - The conference call can be accessed by phone or via webcast on the company's Investor Relations website [2] - A telephonic replay will be available approximately three hours after the call and will remain accessible until May 20, 2025 [2]

Core Insights - ARRAY Technologies has appointed Nick Strevel as senior vice president of product management and technical sales, effective immediately, to enhance its global product strategy and technical sales function [1][2]. Company Overview - ARRAY Technologies is a leading global provider of solar tracking technology for utility-scale and distributed generation customers, focusing on maximizing energy production and delivering value throughout the project lifecycle [7]. Leadership Appointment - Nick Strevel brings over 15 years of experience in the renewable energy sector, having previously held senior roles at First Solar, where he was responsible for product management and technical sales [3][5]. - Strevel's role will involve leading the development and execution of ARRAY's product strategy and creating a high-performing technical sales function [4]. Strategic Focus - The company aims to promote cutting-edge innovations and solutions to enhance customer engagement and drive the renewable energy sector forward [3][5]. - Strevel's expertise in thin-film photovoltaics and semiconductor manufacturing is expected to contribute significantly to ARRAY's innovation efforts [5].

Core Viewpoint - Array Technologies, Inc. is experiencing a decline in stock price and is set to report earnings that show significant year-over-year growth in both EPS and revenue [1][2]. Company Performance - The stock closed at $5.69, reflecting a -0.18% change from the previous day, underperforming the S&P 500 which gained 0.08% [1]. - Over the past month, shares have decreased by 17.39%, while the Oils-Energy sector and S&P 500 have lost 1.36% and 7.33%, respectively [1]. Upcoming Earnings - The company is expected to report an EPS of $0.08, representing a 33.33% increase from the same quarter last year [2]. - Quarterly revenue is forecasted at $262.86 million, which is a 71.36% increase compared to the previous year [2]. Full Year Estimates - For the full year, analysts predict earnings of $0.62 per share and revenue of $1.09 billion, indicating changes of +3.33% and +19.17% from last year [3]. Analyst Sentiment - Recent modifications to analyst estimates indicate short-term business trends, with positive changes reflecting optimism about the company's profitability [4]. - The Zacks Rank system, which assesses these estimate changes, currently ranks Array Technologies, Inc. as 3 (Hold) [6]. Valuation Metrics - The company has a Forward P/E ratio of 9.25, which is lower than the industry average of 10.67 [7]. - The PEG ratio stands at 1.17, compared to the Solar industry's average PEG ratio of 0.54 [7]. Industry Context - The Solar industry, part of the Oils-Energy sector, holds a Zacks Industry Rank of 82, placing it in the top 33% of over 250 industries [8].

In the latest trading session, Array Technologies, Inc. (ARRY) closed at $6.08, marking a +0.33% move from the previous day. This change lagged the S&P 500's 2.13% gain on the day. At the same time, the Dow added 1.65%, and the tech-heavy Nasdaq gained 2.61%.Shares of the company have depreciated by 8.32% over the course of the past month, underperforming the Oils-Energy sector's loss of 5.54% and outperforming the S&P 500's loss of 9.57%.Investors will be eagerly watching for the performance of Array Techn ...