Welcome to our dedicated page for Array Technologies news (Ticker: ARRY), a resource for investors and traders seeking the latest updates and insights on Array Technologies stock.
Array Technologies, Inc. (NASDAQ: ARRY) delivers innovative solar tracking systems that optimize energy production for utility-scale projects worldwide. This dedicated news hub provides investors and industry professionals with essential updates on the company’s operational milestones, financial performance, and technological advancements.
Access authoritative information including earnings announcements, product innovation updates, strategic partnerships, and leadership developments. Our curated collection ensures you stay informed about ARRY’s role in advancing renewable energy infrastructure through reliable single-axis trackers and ground-mounting solutions.
Key updates cover manufacturing expansions, supply chain enhancements, and sustainability initiatives critical to the solar energy sector. Bookmark this page for direct access to verified press releases and market analyses that demonstrate Array Technologies’ commitment to solar tracking excellence.
Array Technologies, a leading provider of tracker solutions and services for utility-scale solar energy projects, announced the resignation of Chief Financial Officer, Kurt Wood, effective June 30, 2024.
Kurt Wood will step down to pursue other business interests but will remain as a consultant through September 30, 2024, to support the transition.
CEO Kevin G. Hostetler praised Wood's improvements in the finance organization, control framework, monthly close process, and cash collection processes.
Array Technologies has initiated a formal search for a new CFO.
Array Technologies (NASDAQ: ARRY) has appointed Neil Manning as president and chief operating officer. Manning, who joined Array in January 2023 as chief operations officer, will now oversee the company's international operations and assume full P&L responsibility. He will also lead geographic expansion and strategic initiatives. CEO Kevin G. Hostetler praised Manning's role in the company's success and noted the new reporting structure will allow executive team members to focus on priority areas. Manning expressed excitement about driving global expansion and innovative projects. Hostetler will engage more with industry associations and focus on customer, investor relations, and merger and acquisition opportunities.
Array Technologies, Inc. reported financial results for the first quarter of 2024, achieving record gross margin and $2.1 billion in executed contracts and awarded orders. With revenue of $153.4 million, gross margin of 35.9%, and adjusted gross margin of 38.3%, the company showcased strong performance. Despite a net loss to common shareholders of $11.3 million, the adjusted EBITDA was $26.2 million. The company's leadership emphasized the positive response to their products and strategic priorities. Array Technologies reaffirmed its full-year 2024 guidance, expecting revenue between $1,250 million to $1,400 million, adjusted EBITDA between $285 million to $315 million, and adjusted net income per share between $1.00 to $1.15.
Array Technologies and DNV Energy USA released a report on the energy impact of solar tracker wind stow strategies. The study confirms that Array's patented, safe, passive wind stow technology significantly enhances energy production, reducing losses to just 0.05%. This improvement surpasses active stow methods, boosting operational efficiency and reliability.
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