Array Technologies Q1 revenue and profit fall but orderbook hits record

Array Technologies

06/05/2026 21:38

Overview

US solar tracker maker's Q1 revenue declined yr/yr to $223.4 mln

Adjusted net income per diluted share fell to $0.06 from $0.13 last year

Company set record $2.4 bln in executed contracts and awarded orders, reaffirmed 2026 guidance

Outlook

Array Technologies expects Q2 2026 revenue between $300 mln and $320 mln

Company reaffirms 2026 revenue guidance of $1.4 bln to $1.5 bln

Company sees 2026 adjusted EBITDA of $200 mln to $230 mln and adjusted EPS of $0.65 to $0.75

Result Drivers

ORDERBOOK GROWTH - Co said record orderbook was driven by traction with new product offerings and investment in software and services

INTERNATIONAL EXPANSION - Co cited contracted projects in Turkey, Peru, and Colombia as evidence of international diversification

Company press release: ID:nGNX4MrlyQ

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Orders
$2.40 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 11 "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 $10.00, about 22.2% above its May 5 closing price of $8.18

The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)