Investment Rating - The report has downgraded the fiscal year 2024 guidance for Array Technologies, maintaining a revenue guidance of $900 million to $920 million, which is below the consensus of $958 million [2][3] Core Insights - Array Technologies reported a slight improvement in adjusted EBITDA due to robust cost management, despite a negative market reaction expected for Q2 2024 performance [2] - The company expressed confidence in achieving double-digit revenue growth in fiscal year 2025, while reiterating concerns regarding licensing, interconnection, and project delays [2][3] Summary by Sections Fiscal Year 2024 Guidance - The company has slightly lowered its fiscal year 2024 revenue guidance to $900 million - $920 million, with adjusted EBITDA guidance of $170 million - $180 million, and adjusted EPS guidance of $0.60 - $0.65, maintaining a gross margin guidance of 34% [2][3] Performance Analysis - For Q3 2024, Array reported revenues of $231 million, a 10% decrease quarter-over-quarter and a 34% decrease year-over-year, with a gross profit margin of 34% [5] - The company highlighted a healthy order backlog of $2 billion, with 80% of orders expected to be delivered by the end of fiscal year 2025 [3] Cost Management - Array Technologies demonstrated strong cost management, achieving a gross margin of 35.4% in Q3 2024, up from 33.6% in Q2 2024 [3][5] - The company reported a non-cash goodwill impairment of $162 million related to the STI transaction [3]

Array Technologies, Inc. (NASDAQ:ARRY) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET Company Participants Sarah Sheppard - IR Kevin Hostetler - CEO Neil Manning - President and COO Kurt Wood - CFO James Zhu - CAO Conference Call Participants Julien Dumoulin-Smith - Jefferies Brian Lee - Goldman Sachs Jordan Levy - Truist Securities Jon Windham - UBS Philip Shen - ROTH Capital Partners Dimple Gosai - Bank of America Joe Osha - Guggenheim Partners Vikram Bagri - Citigroup Kashy Harrison - Piper ...

Array Technologies, Inc. (ARRY) came out with quarterly earnings of $0.17 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.21 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 21.43%. A quarter ago, it was expected that this company would post earnings of $0.10 per share when it actually produced earnings of $0.20, delivering a surprise of 100%.Over the last four quarters, the c ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number: 001-39613 ARRAY TECHNOLOGIES, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 83-2747826 | --- | ...

November 7, 2024 ARRAY Technologies, Inc. Reports Financial Results for the Third Quarter 2024 – Delivers exceptional gross margin growth and continued operational momentum Third Quarter 2024 Highlights • Revenue of $231.4 million • Gross Margin of 33.8% • Adjusted gross margin of 35.4% • Net loss to common shareholders of $(155.4) million ◦ Net loss to common shareholders inclusive of $162 million non-cash goodwill impairment charge associated with the 2022 STI acquisition • Adjusted EBITDA of $46.7 millio ...

Group 1 - Solar energy stocks experienced significant gains, with Sunnova Energy rising by as much as 15%, Array Technologies up 15.4%, and Sunrun increasing by 10.7% on the day before the U.S. presidential election [2][3] - Election speculation has led investors to believe that solar energy stocks could benefit under a potential Harris administration, despite the historical underperformance of these stocks over the past four years [3][4] - Recent delays in nuclear energy plans by Meta Platforms and Amazon have created a favorable environment for solar energy, as the demand for energy from data centers may push companies to consider solar as a viable alternative [5][6] Group 2 - The challenges faced by nuclear energy projects, including regulatory pushback and the burden on the traditional grid, highlight the potential for solar energy to meet growing energy demands [6][8] - Sunnova and Sunrun, primarily rooftop solar companies, are exploring opportunities to build power plants for AI data centers, indicating a shift in their business strategies [7] - Array Technologies, which manufactures mounts for large utility-scale solar projects, stands to benefit significantly from the increasing demand for solar energy solutions in the context of data centers [7][8]

Core Insights - The article highlights the investment strategies and achievements of Paul Franke, a seasoned investor with 38 years of trading experience, emphasizing his contrarian stock selection style and algorithmic analysis for identifying investment opportunities [1]. Group 1: Investment Strategies - Paul Franke developed a system called "Victory Formation," which focuses on supply/demand imbalances indicated by specific stock price and volume movements [1]. - The "Bottom Fishing Club" articles target deep-value stocks or those showing significant positive technical momentum reversals [1]. - The "Volume Breakout Report" articles analyze positive trend changes supported by strong price and volume trading actions [1]. Group 2: Performance and Recognition - Franke was consistently ranked among the top investment advisors nationally during the 1990s and achieved the 1 position in the Motley Fool® CAPS stock picking contest in 2008 and 2009, out of over 60,000 portfolios [1]. - As of September 2024, he is ranked in the Top 3% of bloggers by TipRanks® for 12-month stock picking performance over the last decade [1]. Group 3: Risk Management - Franke advises investors to implement stop-loss levels of 10% or 20% on individual stock choices and to maintain a diversified portfolio of at least 50 well-positioned stocks to enhance regular stock market outperformance [1].

Group 1 - Array Technologies (NASDAQ: ARRY) specializes in utility-scale solar tracking technology and has been previously covered multiple times [1] - The last coverage of Array Technologies occurred at the turn of 2024, indicating ongoing interest in the company's developments [1]

Northrop Grumman Corp.’s (NOC) business unit, Northrop Grumman Systems, recently secured a modification contract to supply active electronically scanned array (AESA) radars for the U.S. Air Force’s F-16 aircraft fleet. The award has been offered by the Air Force Life Cycle Management Center, Wright-Patterson Air Force Base, OH.Details of the DealValued at $30 million, this contract is projected to be completed by May 30, 2031. Work related to this deal will be executed in Linthicum Heights, MD. The latest m ...

Solar stocks have seen quite a rebound this week following Tuesday’s presidential debate in which democratic nominee Kamala Harris emphasized building out alternative energy assets.Despite attractive stocks such as First Solar (FSLR) , Sunrun (RUN) , and Array Technologies (ARRY) , the Zacks Solar Industry is in the bottom 43% of over 250 Zacks industries. With the production and usage of solar energy still somewhat in the beginning stages of its development, the industry has struggled amid a high inflation ...