Welcome to our dedicated page for Array Technologies news (Ticker: ARRY), a resource for investors and traders seeking the latest updates and insights on Array Technologies stock.
Overview of Array Technologies, Inc.
Array Technologies, Inc. (NASDAQ: ARRY) is a globally recognized manufacturer of utility-scale solar tracking systems, providing integrated solutions that optimize the orientation of solar panels with a focus on engineered simplicity and reliability. The company’s expertise in solar tracking technology is demonstrated through its innovative single-axis tracker systems, which include a comprehensive integrated assembly of steel supports, electric motors, gearboxes, and electronic controllers engineered to maximize energy production while ensuring efficient installation and long-term durability. Key industry terms such as solar tracking, utility-scale solar, and renewable energy innovation encapsulate Array’s influence in the renewable energy sector.
Business Model and Operations
Array’s business model revolves around offering robust, reliable tracking solutions that serve as a critical component for solar energy projects worldwide. The company’s operations are divided into two primary segments: the Array Legacy Operations and the STI Operations, with the former contributing the majority of the revenue. Its products are designed to provide a competitive advantage by optimizing energy output through precise tracking of the sun’s path. This integrated system not only increases energy production but also guarantees a reduced overall cost of ownership, making it a preferred partner for large-scale solar developers.
Global Presence and Manufacturing Excellence
Headquartered in the United States, Array Technologies has established a diversified global footprint with operational facilities and supply chains spanning the United States, Australia, Spain, Brazil, and other regions. The company’s manufacturing strategy emphasizes resilience and local sourcing, leveraging domestic steel and an optimized, traceable supply chain. This strategy underpins its reputation as an American manufacturing success story, contributing to job creation and local economic development in its key operational regions.
Technological Innovation and Product Reliability
Array Technologies stands out due to its commitment to continuous technological advancement in solar tracker design. Its solutions incorporate smart technology through sophisticated software protocols that enable features such as passive wind mitigation, high-tilt angle stow positions designed to prevent damage from severe weather, and innovative wireless communication capabilities. The integration of these features results in trackers that not only withstand harsh environmental conditions but also enhance the overall efficiency and safety of solar installations.
Competitive Position and Industry Impact
Within the competitive landscape of renewable energy, Array Technologies distinguishes itself as a provider of complete and integrated solar tracking systems. Its dual-segment approach and focus on engineered reliability allow it to cater to a wide range of customer needs, from design and manufacturing to post-installation support. Array is frequently chosen by solar developers and engineering firms due to its comprehensive approach that minimizes installation complexity and ensures long-term operational efficiency. This strategic differentiation supports its standing as a trusted partner in a rapidly evolving industry.
Operational Strengths and Market Strategy
The company’s operational strengths include its emphasis on robust design and cost-effective deployment. Array Technologies leverages a global supply chain and a customer-centric approach to commission and support solar energy projects across varied geographies. Its proactive engagement with partners and continuous innovation in tracker technology is aimed at addressing real-world challenges such as extreme weather events and installation automation, ensuring that its products remain at the forefront of renewable energy solutions.
Commitment to Quality and Reliability
At its core, Array Technologies is committed to delivering sustainable, high-performance solutions for solar power generation. The company’s integrated tracking systems are designed to operate efficiently under the most demanding conditions, reflecting decades of experience and an uncompromising focus on reliability. This rigorous approach to quality, combined with its global manufacturing excellence, underscores the company’s ability to facilitate the widespread adoption of cost-effective renewable energy solutions.
Conclusion
In summary, Array Technologies, Inc. is an essential player in the solar energy industry, recognized for its innovative and reliable solar tracker solutions. Through a combination of advanced engineering, strategic global operations, and a deep understanding of the renewable energy market, Array continues to provide technology that optimizes solar energy production, delivering tangible benefits to a wide array of utility-scale projects. This comprehensive approach, grounded in decades of expertise, ensures that investors and stakeholders can appreciate the company’s fundamental role in advancing sustainable energy worldwide.
ARRAY Technologies (NASDAQ: ARRY), a leading provider of utility-scale solar tracking solutions, has announced its participation in the 37th Annual ROTH Conference in Dana Point, CA on March 17, 2025.
The company's President and COO Neil Manning, along with CFO H. Keith Jennings, will be available for one-on-one meetings during the conference. A presentation containing key messages will be published on ARRAY's Investor Relations Page on the same day.
Array Technologies (ARRY) reported Q4 2024 financial results with revenue of $275.2 million and gross margin of 28.5%. The company posted a Q4 net loss of $(141.2) million, including non-cash charges of $74.0 million for goodwill impairment and $91.9 million for intangible asset write-down.
Full-year 2024 highlights include revenue of $915.8 million, gross margin of 32.5%, and free cash flow of $135.4 million. The company's orderbook reached $2.0 billion, showing 10% year-over-year growth. Their OmniTrack™ product now represents over 20% of the orderbook.
Looking ahead, Array provided 2025 guidance with revenue projected between $1.05-1.15 billion and Adjusted EBITDA of $180-200 million. The company expects to achieve 100% domestic content solar trackers by H1 2025, despite ongoing challenges including permitting delays and component shortages.
Array Technologies (ARRY) has announced it will release its fourth quarter and full year 2024 financial results after market close on Thursday, February 27, 2025. The company will host a conference call at 5:00 p.m. Eastern Time on the same day.
Investors can access the call by dialing (877)-869-3847 for domestic calls or (201)-689-8261 for international calls. A replay will be available until March 13, 2025, by dialing (877)-660-6853 (domestic) or (201)-612-7415 (international) with passcode 13750627. Additionally, a simultaneous webcast will be available on Array's Investor Relations website.
ARRAY Technologies (NASDAQ: ARRY) has appointed Gina Gunning as its new chief legal officer and corporate secretary, effective immediately. Gunning brings over 25 years of legal and compliance experience and will report to CEO Kevin G. Hostetler from Chandler, Arizona.
Gunning previously served as Chief Legal Officer at GrafTech International , and held senior legal positions at FirstEnergy Corp. and Cliffs Natural Resources Inc. She was also a capital markets partner at Jones Day. Her expertise includes corporate law, governance, compliance, risk management, complex transactions, and regulatory navigation.
In her new role, Gunning will lead ARRAY's legal, compliance, and risk management teams, focusing on corporate governance, contracts, intellectual property, and ESG initiatives. She holds a Juris Doctor from Notre Dame Law School.
ARRAY Technologies (NASDAQ: ARRY) has appointed Darin Green as its new Chief Revenue Officer for North America, effective January 6, 2025. Green, who will report to CEO Kevin G. Hostetler, brings over three decades of experience in renewables and energy sectors.
In his new role, Green will oversee ARRAY's North American revenue-generating activities, including sales, business development, and strategic partnerships. He joins ARRAY from First Solar, where he spent 14 years in various senior leadership positions, most recently as head of global allocation and strategy.
At First Solar, Green led global supply-demand balancing strategies and was instrumental in launching their distributed generation business. He holds an MBA from Columbia Business School and a BBA in Finance from the University of Michigan.
ARRAY Technologies (NASDAQ: ARRY) and RP Construction Services (RP) have reached a significant milestone, deploying over 6GW of solar projects in North America through their partnership. The collaboration, which began in 2009, focuses on serving leading solar developers and contractors across various portfolios.
As ARRAY's value-added distributor, RP provides comprehensive support including design solutions, inventory management, kitting and pre-assembly, logistics services, and post-installation service and commissioning. The partnership aims to boost local economies while providing clean energy solutions, with RP currently supporting ARRAY tracker deployments nationwide for major solar companies.
ARRAY Technologies (NASDAQ: ARRY) has appointed H. Keith Jennings as its new Chief Financial Officer, effective January 6, 2025. Jennings brings over 30 years of experience in corporate finance, risk management, and strategic growth initiatives. He will report to CEO Kevin G. Hostetler and oversee ARRAY's financial strategy and operations. Previously, Jennings served as EVP and CFO at Weatherford International from 2020 to 2022, where he led Finance, IT, and Corporate Strategy functions. He currently serves as a non-executive director and audit chair for Noble and 5E Advanced Materials.
ARRAY Technologies (NASDAQ: ARRY) has announced a strategic $3 million investment in Swap Robotics, a utility-scale solar robotics company. The investment includes potential additional investments of $1 million each based on milestone achievements. This partnership aims to advance automation in PV installation technology, promising enhanced project efficiency and cost savings for developers and EPC companies. Swap Robotics brings significant experience with over 8,000 miles of autonomous outdoor navigation in the last 18 months. The collaboration focuses on developing automation-optimized designs and robotic installation solutions, positioning ARRAY at the forefront of solar industry automation.
ARRAY Technologies (NASDAQ: ARRY) has appointed two industry veterans to strengthen its EMEA leadership team. Leonardo Serpa joins as general manager EMEA from his previous role as CEO at Essentia Energia, bringing experience in negotiations with global solar and wind equipment suppliers. Héctor Sánchez, formerly vice president of sales at Soltec Trackers, takes on the newly created position of vice president of sales EMEA. Both executives will focus on expanding ARRAY's presence and enhancing client relationships across the EMEA region.
ARRAY Technologies (ARRY) reported Q3 2024 financial results with revenue of $231.4 million and gross margin of 33.8%. The company posted a net loss of $155.4 million, including a $162 million non-cash goodwill impairment charge. Adjusted EBITDA reached $46.7 million, with adjusted gross margin at 35.4%. The company maintains a healthy orderbook of $2 billion, with over 20% representing OmniTrack™ orders. For full-year 2024, ARRAY expects revenue between $900-920 million, adjusted EBITDA of $170-180 million, and free cash flow of $100-115 million. The company anticipates adjusted gross margin of approximately 34% for the year.
FAQ
What is the current stock price of Array Technologies (ARRY)?
What is the market cap of Array Technologies (ARRY)?
What is Array Technologies, Inc. known for?
What are the main operating segments of Array Technologies?
How does Array Technologies improve solar panel efficiency?
Where is Array Technologies headquartered and what is its global presence?
What makes Array Technologies’ tracking systems reliable?
How does Array Technologies serve the renewable energy market?
What competitive advantages does Array Technologies hold in the solar industry?
How does Array Technologies support installation efficiency and field performance?
