Array Technologies Inc expected to post earnings of 11 cents a share - Earnings Preview

Array Technologies

07/08/2024 03:04

* Array Technologies Inc  ARRY.OQ   ARRY.O  is expected
to show a
fall in quarterly revenue when it reports  results on August 8
for the period ending June 30 2024
    * The Albuquerque New Mexico-based  company is expected to
report
a 54.4% decrease in revenue to $231.615 million from $507.73
million a year ago, according to the mean estimate from 23
analysts, based on LSEG data.The company's guidance on May 9
2024, for the period ended June 30, was for revenue between
$225.00 million and $235.00 million.
    * ​LSEG's mean analyst estimate for Array Technologies Inc
is for
earnings of 11 cents per share. 
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 19 "strong buy" or "buy," 8
"hold" and 1 "sell" or "strong sell."  
    * The mean earnings estimate of analysts was unchanged in
the last
three months. ​
    * Wall Street's median 12-month price target for Array
Technologies Inc is $18.00​, above​ its last closing price
of $8.98. ​​​

Previous quarterly performance (using preferred earnings measure
in US dollars). ​
 QUARTER       STARMINESM  LSEG IBES  ACTUAL    BEAT,   SURPRI
 ENDING        ARTESTIMAT  ESTIMATE             MET,    SE %
               E®                               MISSED  
 Mar. 31 2024  -0.02       -0.03      0.06      Beat    284.6
 Dec. 31 2024  0.12        0.11       0.21      Beat    86.8
 Sep. 30 2023  0.11        0.12       0.21      Beat    66.7​
 Jun. 30 2023  0.18        0.18       0.47      Beat    161.3
 ​​Mar.        0.04        0.03       0.25      Beat    635.3
 31 2023                                                
 Dec. 31 2022  0.09        0.08       0.10      Beat    22​
 Sep. 30 2022  0.11        0.10       0.18      Beat    79.4
 Jun. 30 2022  0.03        0.03       0.09      Beat    211.2
 This summary was machine generated August 7 at 02:04 GMT.  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)