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Jun 30, 2025
Array Technologies Q2 2025 Earnings Report
Array Technologies reported its financial results for the second quarter of 2025, showcasing strong revenue growth and improved profitability.
Key Takeaways
Array Technologies delivered a robust second quarter in 2025, with significant sequential revenue growth and improved margins. The company's strategic initiatives, including the acquisition of APA Solar and the launch of Hail XP™, along with a strengthened capital structure, position it for continued long-term growth in the utility-scale solar market.
Revenue for Q2 2025 reached $362.2 million, demonstrating 20% sequential growth.
Gross margin improved to 26.8%, with adjusted gross margin at 27.8%.
Net income to common shareholders was $28.5 million, and adjusted EBITDA reached $63.6 million.
Total executed contracts and awarded orders stood at over $1.8 billion as of June 30, 2025.
Forward Guidance
Array Technologies has raised its full-year 2025 revenue outlook and increased the midpoint of its profitability guidance, reflecting confidence in second-half execution and benefits from the Inflation Reduction Act.
Positive Outlook
- Full-year 2025 revenue guidance raised to a range of $1.180 billion to $1.215 billion.
- Adjusted EBITDA guidance increased to a range of $185 million to $200 million.
- Adjusted net income per share guidance set at $0.63 to $0.70.
- Guidance includes benefits from the Inflation Reduction Act Section 45X Advanced Manufacturing Production Credit.
- Company is proactively preparing to navigate the new environment and support domestic content needs.
Challenges Ahead
- Uncertainty remains around the final changes and implementation of the OBBB (One Big Beautiful Bill).
- Inability to provide a quantitative reconciliation for forward-looking non-GAAP measures due to inherent difficulty in predicting certain adjustments.
- Potential for material differences in actual future results due to various risks and uncertainties.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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