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Dec 30, 2024
Array Technologies Q1 2025 Earnings Report
Array Technologies reported strong first-quarter 2025 financial results, exceeding revenue and earnings guidance due to robust operational execution.
Key Takeaways
Array Technologies, Inc. announced strong first-quarter 2025 financial results, with revenue of $302.4 million and adjusted EBITDA of $40.6 million. The company achieved high double-digit revenue growth compared to Q1 2024 and saw significant market share recovery, driven by strong execution capabilities and increased interest in domestic content trackers.
Revenue for Q1 2025 reached $302.4 million, demonstrating strong growth compared to the previous year.
Adjusted EBITDA was $40.6 million, reflecting solid operational performance.
The company reported net income of $2.3 million to common shareholders, with adjusted net income per diluted share of $0.13.
Total executed contracts and awarded orders stood at $2.0 billion as of March 31, 2025, indicating strong future business.
Forward Guidance
Array Technologies maintains its full-year 2025 guidance, expecting revenue between $1.05 billion and $1.15 billion, adjusted EBITDA between $180 million and $200 million, and adjusted net income per share between $0.60 and $0.70.
Positive Outlook
- Continued commitment to supply chain resilience and ability to minimize geopolitical uncertainty.
- Strong orderbook with 18% sequential growth in contracting for the quarter.
- Gaining meaningful traction with Independent Power Producers across Europe, the Middle East, and Asia.
- Flexibility with available liquidity and no near-term refinancing requirements.
- Robust operational capabilities and an agile team focused on long-term value creation.
Challenges Ahead
- Global economic uncertainty related to tariffs.
- Potential changes to the Inflation Reduction Act (IRA).
- Inherent unpredictability of non-GAAP adjustments and their financial impact.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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