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Dec 31, 2022
Array Technologies Q4 2022 Earnings Report
Array Technologies reported Q4 2022 financial results, with revenue increasing and gross margin improving.
Key Takeaways
Array Technologies reported an 83% increase in revenue to $402.1 million for Q4 2022, driven by higher average selling prices and the acquisition of STI. Gross profit increased significantly, leading to a gross margin of 20.0%. The company's adjusted EBITDA was $51.7 million, and adjusted diluted net income per share was $0.10.
Revenue increased by 83% to $402.1 million, driven by higher ASP and STI acquisition.
Gross profit increased by 683% to $80.5 million, with gross margin at 20.0%.
Net loss to common stockholders was $17.3 million, an improvement from the prior year.
Adjusted EBITDA increased to $51.7 million, and adjusted diluted net income per share was $0.10.
Forward Guidance
For the year ending December 31, 2023, the Company expects revenue to be in the range of $1,800 million to $1,950 million. Adjusted EBITDA is expected to be in the range of $240 million to $265 million and adjusted net income per share to be in the range of $0.75 to $0.85.
Positive Outlook
- Revenue to be in the range of $1,800 million to $1,950 million
- Adjusted EBITDA to be in the range of $240 million to $265 million
- Adjusted net income per share to be in the range of $0.75 to $0.85
Historical Earnings Impact
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Avg. Return Before/After Earnings
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