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

Array Technologies

08/11/2024 21:47

* Array Technologies Inc  ARRY.OQ  reported quarterly
adjusted
earnings of 17 cents​​ per share for the quarter ended September
30, lower than the same quarter last year, when the company
reported EPS of 21 cents.  The mean expectation of twenty
three analysts for the quarter was for earnings of 14 cents per
share. Wall Street expected results to range from 10 cents to 20
cents per share.
    * Revenue fell 34% to $231.41 million from a year ago;
analysts
expected $232.61 million. 
    * Array Technologies Inc's reported EPS for the quarter was
a loss
of $1.02​.
    * The company reported a quarterly loss of $155.43 million.
    * Array Technologies Inc shares had fallen by 6.1% this
quarter and lost 63.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 31.8%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
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 1 "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 10.50 
This summary was machine generated from LSEG data November 8 at
09:46 p.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
 Sep. 30 2024      0.14           0.17           Beat
 Jun. 30 2024      0.11           0.20           Beat
 Mar. 31 2024      -0.03          0.06           Beat
 Dec. 31 2023      0.11           0.21           Beat