Array Technologies Inc reports results for the quarter ended June 30 - Earnings Summary

• Array Technologies Inc ARRY.OQ reported quarterly adjusted earnings of 25 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 20 cents. The mean expectation of twenty one analysts for the quarter was for earnings of 20 cents per share. Wall Street expected results to range from 16 cents to 37 cents per share.

• Revenue rose 41.6% to $362.24 million from a year ago; analysts expected $290.45 million.

• Array Technologies Inc's reported EPS for the quarter was 19 cents​.

• The company reported quarterly net income of $28.47 million.

• Array Technologies Inc shares had fallen by 2.9% this quarter and lost 5.1% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 1.2% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• 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 also "buy"

• Wall Street's median 12-month price target for Array Technologies Inc is $8.75, about 33.3% above its last closing price of $5.84

This summary was machine generated from LSEG data August 8 at 04:25 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)