Array Technologies Stock Drops After Mixed Q4 Results, Weak Forward Guidance

Array Technologies, Inc. ARRY reported its fourth-quarter results after Thursday’s closing bell. Here’s a look at the details from the quarter. 

The Details: Array Technologies reported quarterly earnings of 16 cents per share, which missed the analyst consensus estimate of 17 cents. Quarterly revenue came in at $275.23 million which beat the analyst consensus estimate of $268.47 million and is a decrease from revenue of $341.62 million from the same period last year.

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“ARRAY delivered strong fourth quarter and full year 2024 results, we exceeded the mid-point of our fourth quarter revenue guidance and achieved record gross margin on the full year. Our ongoing focus on operational execution continues to translate into robust profitability and healthy cash flow. We finished 2024 with an orderbook of $2 billion, representing 10% year-on-year growth,” said CEO Kevin G. Hostetler.

Outlook: Array Technologies sees first-quarter sales of $260 million to $270 million, versus the $218.65 million analyst estimate. The company sees fiscal 2025 adjusted earnings of 60 cents to 70 cents per share, versus the 79 cent estimate and sales of $1.05 billion to $1.15 billion, versus the $1.13 billion estimate.

ARRY Price Action: According to data from Benzinga Pro, Array Technologies shares were down 12.21% after hours at $5.75 on Thursday.  

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