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. The facility marks a significant investment in the region's clean energy future and underscores Array's commitment to foster ...

Tesla's layoffs and higher interest rates combined to make a rough week for EV and renewable stocks.The electric vehicle (EV) and renewable energy market took a nosedive this week and it seemed everyone was affected. Part of the drop was due to Tesla's (TSLA -1.87%) layoffs announced earlier this week, but part was because investors think the market is overvalued if interest rates are going to stay elevated for the foreseeable future.According to data provided by S&P Global Market Intelligence, Polestar Aut ...

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider Array Technologies, Inc. (ARRY) . This company, which is in the Zacks Solar industry, shows potential for another earnings beat.When looking at the last two reports, this company has recorded a strong streak of surpassing earnings estimates. The company has topped estimates by 90.91%, on average, in the last two quarters.For t ...

The future is green. As the government and companies continue to prioritize renewable energy and its uses worldwide, so should investors. In addition to investing with morals, investing in renewable energy exposes investors to one of the most potent and high growing fields. With a CAGR of nearly 10% in the next nine years, investing in renewable energy is investing in one of the highest growing industries. Below are three of the most undervalued renewable energy stocks to buy in April.Array Technologies (AR ...

The solar industry will be a long-term beneficiary of the energy transition that’s happening throughout the world. Governments are flooding the sector with money and will need to continue investing in the sector. That’s one reason why it’s a good time to consider the best solar stocks to buy.  According to data from the Solar Energy Industries Association, the U.S. solar market reported a 51% increase in gigawatts direct current (GWdc) of capacity. The 32.4 GWdc of capacity was the first time the industry e ...

With the price of oil creeping over $80 a barrel, investors thinking about investing in energy stocks are looking at the oil and gas sectors. This comes after a year in which all energy stocks were weighed down by high interest rates and concerns about a recession that never materialized. But you don’t have to be a contrarian to consider some of Wall Street’s favorite renewable energy stocks.In 2023, renewable energy stocks had a rough year. The momentum in the solar sector has stalled. The infrastructure f ...

The renewable energy sector is one of the most promising industries with a market size valued at $1.09 trillion in 2023 and expected to reach $2.45 trillion by 2032. As the global consciousness for climate change has increased over the last decade, the industry has been continuously growing with major subsidies from the government. The growth has led to the creation undervalued clean energy stocks.In the U.S., the federal incentives to support renewable energy were almost 5 times higher than those for fossi ...

[ 研Ta 究bl 报e_ 告Titl Re] e search Report 28 Feb 2024 阵列技术 Array Technologies (ARRY US) 盈利超预期，但 2024 财年指引远低于共识，项目延迟 Scott Darling Axel Leven scott.darling@htisec.com axel.leven@htisec.com [热Ta点bl速e_评yemFleais1h] Analysis [本Ta报ble告_su为mm 2a月ry] 28 日发布的英文报告的翻译版。 事件 我们预计 Array 的 4Q23 业绩将被市场负面看待，尽管该公司报告的 GAAP 净收入高于市场预期，这是由好于预期 的收入推动的。该公司的 24 财年指引远低于市场预期，但重申了扣除 IRA 收益后的中高利润率(包括 IRA 在内的 30%)。该公司还表示，由于项目持续推迟，收入将加权至 2024 年至 2025 年。尽管该公司给出了 2024 财年的指 引，但它让我们相信，它已经建立了良好的利润率和高质量的库存，因此，我们将把任何股价下跌都视为买入机 会。 点评 2024 财年指引远低于 ...

Investment Rating - The report maintains an "OUTPERFORM" rating for Array Technologies (ARRY US) with a target price of $22.00 per share, indicating a potential upside of nearly 60% from the current price of $14.14 [3][4]. Core Insights - Array Technologies is positioned as a differentiated player in the solar energy value chain, with strong demand prospects despite recent project delays. The company has reset its growth expectations and is projected to achieve a 24% earnings growth from FY24 to FY26 [4][5]. - The FY24 revenue guidance is set between $1.25 billion and $1.4 billion, which is significantly below the consensus estimate of $1.89 billion. The adjusted EBITDA guidance is also lower than expected, reflecting ongoing project delays and supply chain challenges [4][7]. - The company anticipates a gross margin of around 30%, acknowledging a decrease in average selling prices (ASP) due to lower commodity input costs. The revenue split is expected to be 75% from the U.S. and 25% internationally, with a stronger performance anticipated in the second half of 2024 [4][5]. Financial Summary - Revenue projections for FY24 are adjusted down to $1.34 billion, with net income estimates reflecting a decrease of 15% to $122 million. For FY25 and FY26, revenues are expected to rise to $1.74 billion and $2.18 billion, respectively, with net income projected to increase significantly [7][11]. - The report highlights a decrease in earnings per share (EPS) estimates for FY24 to $1.12, with a gradual increase to $2.08 by FY26. The price-to-earnings (P/E) ratio is noted at 12.6x for FY24, indicating that the stock is undervalued compared to global peers [4][8][11].

February 27, 2024 Array Technologies 4Q 2023 Earnings Call Disclaimer Forward-LookingStatementsandOtherInformation Thisprese ...