Array Technologies Inc is a leading provider of solar tracking solutions, specializing in the design and manufacture of advanced solar tracking systems that optimize energy generation from solar panels. The company's innovative technology is aimed at enhancing the efficiency of solar power installations, helping to maximize output while minimizing land use and costs. Array Technologies focuses on developing sustainable energy solutions to support the growing demand for renewable energy, facilitating the deployment of solar farms worldwide. By leveraging cutting-edge engineering and manufacturing practices, the company plays a crucial role in advancing the solar energy industry and enabling a cleaner, more sustainable future.
Solar tracking systems manufacturer Array (NASDAQ:ARRY) met Wall Street’s revenue expectations in Q3 CY2024, but sales fell 34% year on year to $231.4 million. The company’s full-year revenue guidance of $910 million at the midpoint came in 3.7% below analysts’ estimates. Its non-GAAP profit of $0.17 per share was 25.5% above analysts’ consensus estimates.
Goldman analysts highlight 9 companies with IRA exposure. Array Tech, Enphase, Nextracker projected for 114%, 75%, 58% upside, while Tesla's gains may be modest.
Solar tracking systems manufacturer Array (NASDAQ:ARRY)
will be announcing earnings results tomorrow after the bell. Here’s what investors should know.
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Array Technologies shares are down after the company reported its second-quarter financial results Thursday. Here's a look at the details from the report.
