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 ...

Array Technologies, Inc. (NASDAQ:ARRY) Q4 2023 Earnings Conference Call February 27, 2024 5:00 PM ET Corporate Participants Cody Mueller - Investor Relations Kevin Hostetler - Chief Executive Officer Kurt Wood - Chief Financial Officer Conference Call Participants Mark Strouse - JPMorgan Juan Gutierrez - Barclays Brian Lee - Goldman Sachs David Benjamin - Mizuho Donovan Schafer - Northland Capital Markets Joseph Osha - Guggenheim Partners Colin Rusch - Oppenheimer Kashy Harrison - Piper Sandler Andrew Perco ...

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. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 90.91%. A quarter ago, it was expected that this company would post earnings of $0.11 per share when it actually produced earnings of $0.21, delivering a surprise of 90.91%.Over the last four quarters, the ...

Fourth Quarter 2023 Financial Highlights Revenue of $341.6 millionNet income to common stockholders of $6.0 millionAdjusted EBITDA(1) of $48.2 millionBasic and diluted net income per share of $0.04Adjusted 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 millionNet income to common stockholders of $85.5 millionAdjusted EBIT ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 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) | --- | --- | --- | |---------------- ...

February 27, 2024 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 Fourth Quarter 2023 Financial Highlights • Revenue of $341.6 million • Net income to common stockholders of $6.0 million • Adjusted EBITDA of $48.2 million • Basic and diluted net income per share of $0.04 • Adjusted diluted net income per share of $0.21 • $49.9 million of 45X benefit earned for 2023 torque ...

The most recent trading session ended with Array Technologies, Inc. (ARRY) standing at $15.20, reflecting a +1.2% shift from the previouse trading day's closing. This move outpaced the S&P 500's daily gain of 0.58%. Elsewhere, the Dow gained 0.91%, while the tech-heavy Nasdaq added 0.3%.Coming into today, shares of the company had gained 12.17% in the past month. In that same time, the Oils-Energy sector lost 0.35%, while the S&P 500 gained 4.61%.Investors will be eagerly watching for the performance of Arr ...

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Key PointsSolar tracker systems automatically follow the sun and position solar panels to maximize daily electricity production.Nextracker has been the leader in solar tracker systems for a seventh consecutive year, commanding a 30% global market share, crushing its fiscal Q3 2024 estimates and raising full-year 2024 top and bottom line estimates.Array Technologies commands an 18% global market share and will report its next earnings in March 2024, coming off a guidance cut on its November 2023 earnings rel ...