Array Technologies Q2 revenue beats estimates, EPS at $0.25
Overview
Array Technologies Q2 revenue of $362.2 mln beats analyst expectations, per LSEG data
Adjusted EPS of $0.25 exceeds estimates, reflecting strong operational performance
Adjusted EBITDA of $63.6 mln surpasses forecast, per LSEG data
Outlook
Array raises 2025 revenue guidance to $1.180 bln-$1.215 bln
Company expects 2025 adjusted EBITDA of $185 mln-$200 mln
Array projects 2025 adjusted EPS between $0.63 and $0.70
Result Drivers
STRATEGIC DESCOPING - Co attributes improved orderbook quality to strategic descoping and reconfiguring of low-margin projects
ACQUISITION - Signed agreement to acquire APA Solar, expected to enhance product offerings and growth
CAPITAL STRUCTURE - Issued convertible notes and repaid term loan, improving debt maturity profile
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $362.20 mln | $290.40 mln (19 Analysts) |
Q2 Adjusted EPS | Beat | $0.25 | $0.2 (18 Analysts) |
Q2 Net Income |
| $28.50 mln |
|
Q2 Adjusted EBITDA | Beat | $63.60 mln | $53 mln (19 Analysts) |
Q2 Gross Margin |
| 26.8% |
|
Q2 Orders |
| $1.80 bln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 12 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the renewable energy equipment & services peer group is "buy"
Wall Street's median 12-month price target for Array Technologies Inc is $8.25, about 30.5% above its August 6 closing price of $5.73
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 7 three months ago
Press Release: ID:nGNX1H6fd1
