Welcome to our dedicated news page for Array Technologies (Ticker: ARRY), a resource for investors and traders seeking the latest updates and insights on Array Technologies .
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Array Technologies 's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Array Technologies 's position in the market.
Rhea-AI Summary
Array Technologies, a global solar company, has announced plans for a $50 million manufacturing campus in Bernalillo County, New Mexico. The expansion will solidify the company's future in the state and secure hundreds of jobs for New Mexicans. Construction is expected to begin in early 2024, and the new campus will allow Array to hire nearly 100 new employees. The expansion is projected to have an economic impact of over $300 million over 10 years.
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5.31%
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Array Technologies to release Q3 2023 results on November 7th
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-3.55%
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Array Technologies signs long-term agreement with Steel Dynamics to provide coil for U.S. projects, reinforcing domestic supply chain and reducing risks for customers.
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6.98%
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Array Technologies reinforces their 10-year partnership with Extruded Aluminum Corporation (EAC) to expand U.S. manufacturing footprint with additional aluminum extrusion capacity. The collaboration enhances Array's capability to source over 85% domestic content, reducing supply chain risk and supporting customers in meeting IRA requirements. EAC's $35 million capital expansion adds jobs and enables design innovation. The partnership strengthens the U.S.-based supply chain and contributes to a self-reliant renewable energy sector.
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0.34%
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Array Technologies is a front-runner in domestic content sourcing, achieving over 85% content from U.S. suppliers, setting an unparalleled benchmark in the solar industry. Their commitment to local sourcing and collaborations with U.S. manufacturers minimizes quality risks and assures timely delivery. Array's focus on domestic content allows customers to maximize their IRA benefits and positions them at the forefront of the renewable energy revolution.
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End-of-Day
2.33%
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Array Technologies announces strong Q2 2023 results with revenue of $507.7 million and net income of $52.0 million. Adjusted EBITDA was $115.6 million. Executed contracts and awarded orders at June 30, 2023, totaled $1.7 billion. However, anticipated revenue for 2023 has been negatively impacted due to larger-than-expected pushouts and permitting issues. Despite lower revenue outlook, the company is increasing its forecasted Adjusted EBITDA and Adjusted EPS.
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24.05%
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Array Technologies (NASDAQ: ARRY) has named Aaron Gabelnick as its chief strategy and technology officer, effective August 7, 2023. Gabelnick brings over 20 years of strategic global business experience, with a focus on technology and sustainability. He will lead Array's corporate strategy, technology development, and capital investments to drive the company's growth and expansion into complementary markets.
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0.73%
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Array Technologies (NASDAQ: ARRY) has entered into an agreement with Lock Joint Tube to secure supply from a new steel mill in Texas dedicated to manufacturing utility-scale solar tubing. The collaboration aims to boost the integrity of the domestic solar supply chain, create new manufacturing jobs, and support Array’s continued expansion in the U.S., including in Texas and throughout the central U.S. The agreement aligns with Array’s intent to provide the highest US domestic content in the industry, in response to domestic content requirements in the Inflation Reduction Act (IRA).
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-1.23%
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-1.52%
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0.61%
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Array Technologies, Inc.
Nasdaq:ARRY
ARRY Rankings
ARRY Stock Data
1.89B
133.74M
0.84%
124.6%
17.07%
Optical Instrument and Lens Manufacturing
Manufacturing
United States of America
ALBUQUERQUE
About ARRY
array technologies, inc. is the global leader in solar tracking, with 9+ gw operational capacity and nearly three decades of experience. we’re the solar industry’s partner-of-choice for robust, reliable, and innovative tracking solutions guaranteed to deliver the lowest cost of ownership. through a continuous focus on engineered simplicity, array’s tracker solutions optimize for efficient installation and high reliability. the company is headquartered in new mexico and ships tracking solutions to solar projects worldwide.