Array Technologies Q3 revenue beats estimates

Array Technologies

05/11/2025 22:28

Overview

Array Technologies Q3 revenue of $393.5 mln beats analyst expectations

Adjusted EPS of $0.30 for Q3 exceeds analyst estimates

Company completed acquisition of APA Solar, contributing $16.9 mln to Q3 revenue

Outlook

Company updates full-year 2025 revenue guidance to $1.25 bln-$1.28 bln

Array expects full-year 2025 adjusted EBITDA of $185 mln-$195 mln

Company anticipates 2025 adjusted net income per share of $0.64-$0.70

Result Drivers

APA ACQUISITION - Completed acquisition of APA Solar contributed $16.9 mln to Q3 revenue, enhancing product offerings

STRONG PARTNERSHIPS - Robust bookings reflect deep trust and expanding partnerships with developers, utilities, and power producers

REVENUE GROWTH - Year-to-date revenue up 65% and volume up 74%, driven by strategic initiatives and market demand

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
$393.5 mln
$311.08 mln (18 Analysts)
Q3 Adjusted EPS
Beat
$0.30
$0.20 (20 Analysts)
Q3 Net Income
$18.40 mln
Q3 Adjusted EBITDA
Beat
$72.20 mln
$55.77 mln (20 Analysts)
Q3 Gross Margin
26.90%
Q3 Orders
$1.90 bln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 12 "hold" and 1 "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 $9.31, about 17% above its November 4 closing price of $7.73

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nGNX32mJvR

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.

(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.)