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Array Technologies (ARRY)
NASDAQ:ARRY
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Earnings Data
Report Date
Mar 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.18Last Year’s EPS
$0.21Same Quarter Last Year
Moderate Buy
Based on 18 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: -9.19%
|Next Earnings Date:Mar 11, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong financial performance, a significant order book, and innovative product launches, with a positive outlook for future growth. However, there were challenges including a revenue decline, a significant goodwill impairment, and issues in the Brazilian market.Company Guidance
In the third quarter of 2024, Array Technologies reported a revenue of $231 million, which was within the upper half of their guidance range. The company achieved an adjusted gross margin of 35.4%, reflecting a 940-basis point improvement from the prior year, and delivered $46.7 million in adjusted EBITDA, representing 20.2% of their revenue. Additionally, they generated $43.9 million in free cash flow, ending the quarter with a robust cash balance of $332 million. Their order book remained stable at $2 billion, despite the muted orders due to election uncertainties and market factors. Moreover, the company is anticipating strong double-digit growth for 2025, with a significant portion of their order book scheduled for delivery between Q4 2024 and the end of 2025.Strong Financial Performance
Achieved $231 million in revenue, adjusted gross margin of 35.4%, and $46.7 million of adjusted EBITDA, representing 20.2% of revenue.
Significant Order Book
Orderbook remained consistent at $2 billion, with the domestic pipeline over 3x larger than at the end of Q3 2023.
Innovative Product Launches
Launched 77-degree tracker and SkyLink architecture, with SkyLink receiving its first order in early Q4.
Positive Outlook for 2025
Anticipates strong double-digit growth in 2025, with 80% of the backlog expected to convert by the end of 2025.
Increased Free Cash Flow Guidance
Raised free cash flow guidance to $100 million to $115 million, up from the prior guidance range of $60 million to $100 million.
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ARRY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ARRY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $6.20 | $6.04 | -2.58% |
| Aug 08, 2024 | $8.99 | $7.10 | -21.02% |
| May 09, 2024 | $12.51 | $12.76 | +2.00% |
| Feb 27, 2024 | $13.64 | $14.10 | +3.37% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Array Technologies (ARRY) report earnings?
Array Technologies (ARRY) is schdueled to report earning on Mar 11, 2025, TBA Not Confirmed.
What is Array Technologies (ARRY) earnings time?
Array Technologies (ARRY) earnings time is at Mar 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ARRY EPS forecast?
ARRY EPS forecast for the fiscal quarter 2024 (Q4) is $0.18.
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