Array Technologies (ARRY) Stock News, May-Aug 2025

ARRAY Technologies (NASDAQ: ARRY), a leading solar tracking technology provider, has announced it will supply 100% domestic content trackers for a 200 megawatt (MWac) solar project in Indiana. The Emerald Green Solar project, developed by ENGIE North America, will utilize ARRAY's OmniTrack™ trackers that meet domestic content requirements under U.S. Treasury guidelines.

The project qualifies for the maximum 28.7% Assigned Cost Percentage (ACP), including a 9.4% production ACP for using domestically manufactured components. Located near Indianapolis, the project will employ over 250 construction workers and feature locally rolled steel and torque tubes. Tracker deliveries are scheduled to begin in Q3 2025.

Array Technologies (NASDAQ: ARRY), a leading provider of utility-scale solar tracking solutions, has scheduled its second quarter 2025 earnings release for Thursday, August 7, 2025, after market close.

The company will host a conference call at 5:00 p.m. Eastern Time on the same day. Investors can access the call via phone using (866)-682-6100 (domestic) or (862)-298-0702 (international), or through a webcast on Array's investor relations website. A replay will be available for approximately two weeks by phone and for 30 days online.

Array Technologies (NASDAQ: ARRY) has successfully closed its upsized offering of $345 million in 2.875% convertible senior notes due July 2031. The net proceeds of approximately $334.1 million will be strategically deployed to strengthen the company's capital structure through multiple initiatives.

The company plans to use the proceeds to: 1) fully repay $232.8 million of term loan debt, 2) fund $35.1 million in capped call transactions, and 3) repurchase $100 million of 1.00% Convertible Senior Notes due 2028 for $78.3 million. The capped calls have an initial strike price of $8.12 per share and a cap of $12.74 per share.

These transactions are expected to generate approximately $9 million in annual net interest expense savings and enhance free cash flow generation.

Array Technologies (NASDAQ: ARRY) has priced an upsized offering of $300 million in 2.875% convertible senior notes due 2031, with an additional $45 million option for initial purchasers. The notes will convert at 123.1262 shares per $1,000 principal amount (initial conversion price of $8.12 per share).

The company expects net proceeds of $290.4 million (or $334.1 million if additional option exercised), which will be used to: repay $150 million of term loan debt, fund $30.5 million in capped call transactions, and repurchase $100 million of existing 1.00% Convertible Notes due 2028. The offering is expected to close on June 27, 2025.

Array Technologies (NASDAQ: ARRY) has announced plans to offer $250 million in convertible senior notes due 2031 through a private placement to qualified institutional buyers. The company will also grant initial purchasers an option for an additional $37.5 million in notes.

The proceeds will be used to repay $150 million of term loan facility, fund capped call transactions, and for general corporate purposes. Array plans to enter into capped call transactions to reduce potential dilution and offset cash payments upon conversion. The notes will be senior, unsecured obligations with semiannual interest payments, with conversions settled through a combination of cash and common stock.

The company may also use proceeds to repurchase portions of its existing 1.00% Convertible Senior Notes due 2028.

ARRAY Technologies (ARRY) has announced the acquisition of APA Solar for an enterprise value of $179 million, representing 7.6x APA's trailing 12-month EBITDA. APA Solar, an Ohio-based manufacturer of engineered foundation solutions and fixed-tilt mounting systems, generated $129 million in revenue and $25 million in EBITDA in 2024. The strategic acquisition expands ARRAY's addressable market by 40% and will enable the company to offer an integrated tracker + foundation system for challenging soil conditions. The deal includes $168 million in upfront cash, $42 million in deferred consideration, and a potential $40 million performance-based earnout. The transaction is expected to close in Q3 2025 and be accretive to ARRAY's Adjusted EPS in the first year before synergies. APA's management team will continue leading the new Foundation Solutions Business division.

Silicon Ranch, a major solar facility developer and operator, has made a strategic investment in Swap Robotics, a leader in utility-scale solar robotic operations. The investment follows Swap Robotics' previous funding rounds, including $7M from SOLV Energy and $3M from Array Technologies. Silicon Ranch CEO Reagan Farr will join Swap's board of directors. The investment aims to enhance Silicon Ranch's Regenerative Energy agribusiness program while enabling Swap Robotics to expand its operations. Swap's 100% electric autonomous robots complement Silicon Ranch's land management practices, including sheep grazing, across its 50,000-acre portfolio. The robots offer efficient vegetation management with the ability to operate day and night, providing a quieter alternative to conventional mowers.

ARRAY Technologies (NASDAQ: ARRY) has unveiled DuraTrack Hail XP™, an advanced solar tracker designed to protect solar installations in extreme weather conditions. The new system features a 77-degree stow capability and AC-powered control, integrating with ARRAY's Hail Alert Response system.

Key features include AC-Powered Stow-on-Demand eliminating battery dependency, bi-directional 77-degree stow positioning for hail impact mitigation, and integration with SmarTrack® Hail Alert Response and Passive Wind Stow technologies. The system also boasts enhanced durability with reinforced components. First shipments are expected in early 2026.

ARRAY Technologies (NASDAQ: ARRY) reported strong Q1 2025 financial results, exceeding revenue and earnings guidance. The company achieved revenue of $302.4 million, with a gross margin of 25.3% and adjusted gross margin of 26.5%. Net income reached $2.3 million ($0.02 per share), while adjusted EBITDA was $40.6 million. Total executed contracts and awarded orders stood at $2.0 billion. The company now offers 100% domestic content trackers under the Inflation Reduction Act, strengthening its market position. ARRAY maintains its full-year 2025 guidance with projected revenue of $1.05-1.15 billion, adjusted EBITDA of $180-200 million, and adjusted net income per share of $0.60-0.70. The company successfully amended and extended its Revolving Credit Facility, demonstrating solid financial management and operational execution.