Reports Q3 revenue $231.41M, consensus $232.61M. “ARRAY had another impressive quarter of operational execution, achieving revenue within our guidance range and strong profitability, as evidenced by our adjusted gross margin of 35.4%. Our orderbook remains healthy at $2 billion, with over 20% of our global orderbook now representing orders of OmniTrack(TM), which demonstrates the rapid expansion of solar projects utilizing land with diverse terrain. Additionally, a significant portion of orders in our domestic orderbook include customers evaluating domestic content, and we remain confident in our ability to provide 100% domestic trackers. Our high-probability pipeline remains robust, and we are greatly encouraged by the overall momentum in the business,” said Chief Executive Officer, Kevin Hostetler.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ARRY:
- Array Technologies options imply 15.3% move in share price post-earnings
- Guggenheim downgrades trio of clean energy names after election outcome
- Array Technologies downgraded to Neutral from Buy at Guggenheim
- SolarEdge cut to Underperform, Array to Neutral at BofA after Trump win
- Array Technologies downgraded to Neutral from Buy at BofA