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Complete financial analysis of Array Technologies, Inc. (ARRY) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Array Technologies, Inc., a leading company in the Solar industry within the Energy sector.
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Array Technologies, Inc. (ARRY)
About Array Technologies, Inc.
Array Technologies, Inc. manufactures and supplies solar tracking systems and related products in the United States and internationally. Its products include DuraTrack HZ v3, a single-axis solar tracking system; and SmarTrack, a machine learning software that is used to identify the optimal position for a solar array in real time to increase energy production. The company was founded in 1989 and is headquartered in Albuquerque, New Mexico.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|
| Revenue | 1.58B | 1.64B | 853.32M | 872.66M | 647.90M | 290.78M |
| Cost of Revenue | 1.16B | 1.41B | 770.46M | 669.86M | 497.14M | 279.23M |
| Gross Profit | 415.55M | 227.28M | 82.86M | 202.80M | 150.76M | 11.56M |
| Gross Profit Ratio | 26.36% | 13.88% | 9.71% | 23.24% | 23.27% | 3.97% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 159.54M | 150.78M | 80.97M | 55.63M | 41.21M | 46.88M |
| Selling & Marketing | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 159.54M | 150.78M | 80.97M | 55.63M | 41.21M | 46.88M |
| Other Expenses | 41.89M | 2.79M | -905.00K | -2.31M | -33.00K | -447.00K |
| Operating Expenses | 201.43M | 249.92M | 104.90M | 81.15M | 66.71M | 73.59M |
| Cost & Expenses | 1.36B | 1.66B | 875.36M | 751.01M | 563.85M | 352.81M |
| Interest Income | 8.33M | 3.18M | 209.00K | 0.00 | 0.00 | 0.00 |
| Interest Expense | 44.23M | 33.51M | 35.48M | 15.13M | 18.80M | 19.04M |
| Depreciation & Amortization | 54.83M | 101.06M | 25.95M | 27.47M | 27.30M | 28.41M |
| EBITDA | 276.21M | 81.21M | 300.00K | 149.13M | 110.68M | -33.25M |
| EBITDA Ratio | 17.52% | 4.96% | 0.35% | 16.82% | 17.18% | -11.70% |
| Operating Income | 214.12M | -18.13M | -24.74M | 95.21M | 83.41M | -61.21M |
| Operating Income Ratio | 13.58% | -1.11% | -2.90% | 10.91% | 12.87% | -21.05% |
| Total Other Income/Expenses | -36.97M | 13.18M | -36.38M | -17.43M | -18.83M | -19.49M |
| Income Before Tax | 177.16M | -4.95M | -61.12M | 77.78M | 64.58M | -80.70M |
| Income Before Tax Ratio | 11.24% | -0.30% | -7.16% | 8.91% | 9.97% | -27.75% |
| Income Tax Expense | 39.92M | -9.38M | -10.72M | 18.71M | 24.83M | -19.93M |
| Net Income | 137.24M | 4.43M | -50.40M | 59.07M | 39.75M | -60.76M |
| Net Income Ratio | 8.71% | 0.27% | -5.91% | 6.77% | 6.13% | -20.90% |
| EPS | 0.57 | 0.03 | -0.39 | 0.47 | 0.31 | -0.48 |
| EPS Diluted | 0.56 | 0.03 | -0.39 | 0.47 | 0.31 | -0.48 |
| Weighted Avg Shares Out | 150.94M | 149.82M | 129.98M | 126.99M | 126.99M | 126.99M |
| Weighted Avg Shares Out (Dil) | 152.02M | 149.82M | 129.98M | 126.99M | 126.99M | 126.99M |
ARRAY Technologies and RP Surpass 6GW of Solar Power Deployed
ALBUQUERQUE, N.M., Dec. 04, 2024 (GLOBE NEWSWIRE) -- ARRAY Technologies (NASDAQ: ARRY) (“ARRAY” or the “Company”), a global leader in solar tracker solutions, announced today that it has deployed more than 6GW of solar projects in North America through its...
ARRAY Technologies Names H. Keith Jennings as Chief Financial Officer
ARRAY new hire, H. Keith Jennings, brings over 30 years global experience in financial strategy, capital markets and corporate transformation to CFO role
ARRAY Announces $3 Million Investment in Swap Robotics to Drive Automation in PV Installation
ALBUQUERQUE, N.M., Nov. 18, 2024 (GLOBE NEWSWIRE) -- ARRAY Technologies (NASDAQ: ARRY) (“ARRAY” or the “Company”), a global leader in solar tracker technology, is proud to announce its strategic $3 million investment in Swap Robotics, a pioneer in utility-scale solar...
ARRAY Technologies Appoints Two Industry Veterans to Lead EMEA
ALBUQUERQUE, N.M., Nov. 18, 2024 (GLOBE NEWSWIRE) -- ARRAY Technologies (NASDAQ: ARRY) (“ARRAY” or the “Company”), a global leader in solar tracker solutions, announces the appointment of Leonardo Serpa as general manager, Europe, the Middle East, and Africa (EMEA) and...
Array Technologies, Inc. (ARRY) Q3 2024 Earnings Call Transcript
Array Technologies, Inc. (NASDAQ:ARRY ) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET Company Participants Sarah Sheppard - IR Kevin Hostetler - CEO Neil Manning - President and COO Kurt Wood - CFO James Zhu - CAO...
Array Technologies, Inc. (ARRY) Surpasses Q3 Earnings and Revenue Estimates
Array Technologies, Inc. (ARRY) came out with quarterly earnings of $0.17 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.21 per share a year ago.
ARRAY Technologies, Inc. Reports Financial Results for the Third Quarter 2024 – Delivers exceptional gross margin growth and continued operational momentum
Third Quarter 2024 Highlights Revenue of $231.4 million Gross Margin of 33.8% Adjusted gross margin of 35.4%(1) Net loss to common shareholders of $(155.4) million Net loss to common shareholders inclusive of $162 million non-cash goodwill impairment charge associated with...
Why Solar Energy Stocks Skyrocketed Today
Nuclear energy news helped solar energy for once.
Analysts Estimate Array Technologies, Inc. (ARRY) to Report a Decline in Earnings: What to Look Out for
Array Technologies (ARRY) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
The Bottom Fishing Club - Array Technologies: Solar Industry Turnaround Possible After Election
Array Technologies is undervalued due to fears of potential tax-policy changes for the solar industry if Republicans sweep the 2024 election, alongside overly aggressive short-selling efforts. U.S. demand for renewable electricity sources is expected to grow due to increasing EV...
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