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Sep 30, 2023
Array Technologies Q3 2023 Earnings Report
Array Technologies reported strong operational execution and announced Chief Financial Officer transition.
Key Takeaways
Array Technologies reported Q3 2023 financial results, with revenue of $350.4 million and adjusted EBITDA of $57.4 million. The company generated $69.4 million in free cash flow during the quarter and made a $50 million prepayment on its term loan. Despite near-term secular challenges, the company sees positive momentum heading into 2024 with a doubling of the domestic pipeline.
Revenue of $350.4 million.
Net income to common shareholders of $10.1 million.
Adjusted EBITDA of $57.4 million.
Free cash flow generation of $69.4 million in the quarter.
Forward Guidance
For the year ending December 31, 2023, the Company expects: Revenue to be in the range of $1,525 million to $1,575 million, Adjusted EBITDA to be in the range of $280 million to $290 million and Adjusted net income per share to be in the range of $1.00 to $1.05
Historical Earnings Impact
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Avg. Return Before/After Earnings
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