Array Technologies, Inc. develops and supplies solar tracking technology, fixed-tilt systems, foundation solutions, software platforms and field services for utility-scale and distributed generation solar PV projects. Its products include single-axis tracker systems that use steel supports, motors, gearboxes and electronic controls to orient panels toward the sun.
Recurring news about ARRY covers quarterly results, order activity, international project demand, product introductions such as DuraTrack® and DuraTrack D2S™, APA Solar foundation and racking initiatives, manufacturing and supply-chain updates, management participation in investor conferences, and board or technology leadership changes.
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Array Technologies, Inc. (Nasdaq: ARRY) announced it will release its first quarter 2023 results on May 9, 2023, after market close. A conference call is scheduled for 5:00 p.m. ET that same day, accessible via phone and online. Investors can dial (877)-451-6152 domestically or (201)-389-0879 internationally to participate. A telephonic replay will be available three hours post-call until May 23, 2023. Array Technologies is a global leader in solar tracker technology, focused on enhancing energy production under varied conditions. The company is committed to driving sustainable energy adoption and operates a diversified global supply chain.
Array Technologies reported robust financial results for Q4 2022 and the full year, with revenue reaching $402.1 million in Q4, up 83% year-over-year, and $1.6 billion for the full year, marking a 92% increase. The net loss narrowed to $17.3 million in Q4, compared to $32.1 million the previous year. Adjusted EBITDA surged to $51.7 million in Q4 from $0.5 million a year prior. The company holds an order book of $1.9 billion and provides optimistic guidance for 2023, forecasting revenue between $1.8 billion and $1.95 billion and adjusted EBITDA of $240 million to $265 million.
Array Technologies (NASDAQ: ARRY) announced it will not file its Annual Report on Form 10-K by the March 16, 2023 deadline and has applied for an extension. The company reassured investors that it does not anticipate any material changes to its preliminary 2022 results. A conference call discussing fourth quarter and full-year results is scheduled for March 21, 2023. The extension will not impact financial covenants or guidance for 2023. Array's focus on integrating STI Norland continues, despite potential uncertainties posed by external factors such as trade regulations and ongoing conflicts.