Array Technologies Inc reports results for the quarter ended in December - Earnings Summary

Array Technologies

28/02/2024 03:39

* Array Technologies Inc  ARRY.OQ  reported quarterly
adjusted
earnings of 21 cents​​ per share for the quarter ended in
December, higher than the same quarter last year, when the
company reported EPS of 10 cents.  The mean expectation of
twenty three analysts for the quarter was for earnings of 11
cents per share. Wall Street expected results to range from 9
cents to 14 cents per share.
    * Revenue fell 15% to $341.62 million from a year ago;
analysts
expected $314.86 million. 
    * Array Technologies Inc's reported EPS for the quarter was
4
cents​.
    * The company reported quarterly net income of $6.01
million.
    * Array Technologies Inc shares had fallen by 20.2% this
quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.4%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 15 "strong buy" or "buy," 10
"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 $23.50 
This summary was machine generated from LSEG data February 28 at
03:39 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) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      0.11           0.21           Beat
 Sep. 30 2023      0.12           0.21           Beat
 Jun. 30 2023      0.18           0.47           Beat
 Mar. 31 2023      0.03           0.25           Beat