Array Technologies Q2 revenue and profit fall, orderbook hits record

Array Technologies

05/08/2026 21:33

Overview
US solar tracker maker's Q2 revenue declined yr/yr
Adjusted net income per share for Q2 fell from prior year
Company reported record $2.5 bln orderbook and launched new products

Outlook
Array Technologies sees full-year 2026 revenue between $1.4 bln and $1.5 bln
Company raises full-year 2026 adjusted EBITDA forecast to $210 mln-$230 mln from $200 mln-$230 mln
Array Technologies expects Q3 2026 revenue between $310 mln and $330 mln

Result Drivers
RECORD ORDERBOOK - Co said its $2.5 bln orderbook at June 30, 2026 reflected continued share gains and strong execution
PRODUCT LAUNCHES - Co launched DuraTrack D2S for international markets and announced next-generation OmniTrack
CUSTOMER DEMAND - Co said strong customer demand and expanding solution set supported results

Company press release: ID:nGNXQsXmW

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Executed contracts and awarded orders at June 30
 
$2.5 bln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 11 "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 "buy"
Wall Street's median 12-month price target for Array Technologies Inc is $10.00, about 66.4% above its August 4 closing price of $6.01
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads
Aug 5 - FTC Solar Q2 revenue beats analyst estimates on new projects
Aug 5 - SolarEdge Q2 revenue rises on strong European and U.S. C&I demand
Aug 5 - Trump administration to impose 15% tariff on polysilicon, sources say

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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.)