Array Technologies Inc is a leading provider of solar tracking solutions, specializing in the design and manufacture of advanced solar tracking systems that optimize energy generation from solar panels
The company's innovative technology is aimed at enhancing the efficiency of solar power installations, helping to maximize output while minimizing land use and costs. Array Technologies focuses on developing sustainable energy solutions to support the growing demand for renewable energy, facilitating the deployment of solar farms worldwide. By leveraging cutting-edge engineering and manufacturing practices, the company plays a crucial role in advancing the solar energy industry and enabling a cleaner, more sustainable future.
Shares of solar tracking systems manufacturer Array (NASDAQARRY)
fell 21.4% in the afternoon session after the company reported weaker than expected fourth quarter 2024 results, with EBITDA missing Wall Street's estimates and full-year guidance coming in significantly below expectations, not exactly what investors wanted to see.
Solar tracking systems manufacturer Array (NASDAQARRY) announced better-than-expected revenue in Q4 CY2024, but sales fell by 19.4% year on year to $275.2 million. The company expects next quarter’s revenue to be around $265 million, coming in 26.3% above analysts’ estimates. Its non-GAAP profit of $0.16 per share was in line with analysts’ consensus estimates.
ALBUQUERQUE, N.M., Feb. 06, 2025 (GLOBE NEWSWIRE) -- ARRAY Technologies, Inc. (the “Company” or “ARRAY”) (Nasdaq: ARRY) today announced that the company will release its fourth quarter and full year 2024 results after the market close on Thursday, February 27, 2025, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day.
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Array’s stock price has taken a beating over the past six months, shedding 39.4% of its value and falling to $6.75 per share. This was partly driven by its softer quarterly results and might have investors contemplating their next move.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at renewable energy stocks, starting with Array (NASDAQARRY).
ALBUQUERQUE, N.M., Nov. 18, 2024 (GLOBE NEWSWIRE) -- ARRAY Technologies (NASDAQARRY) (“ARRAY” or the “Company”), a global leader in solar tracker solutions, announces the appointment of Leonardo Serpa as general manager, Europe, the Middle East, and Africa (EMEA) and Héctor Sánchez as vice president of sales, EMEA. Both executives bring a wealth of experience to ARRAY’s growing operations in Europe, the Middle East, and Africa.
Solar tracking systems manufacturer Array (NASDAQARRY) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 34% year on year to $231.4 million. The company’s full-year revenue guidance of $910 million at the midpoint came in 3.7% below analysts’ estimates. Its non-GAAP profit of $0.17 per share was 25.5% above analysts’ consensus estimates.
Goldman analysts highlight 9 companies with IRA exposure. Array Tech, Enphase, Nextracker projected for 114%, 75%, 58% upside, while Tesla's gains may be modest.
