Array Technologies, Inc. - ARRY STOCK NEWS

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.

ARRAY Technologies, Inc. (Nasdaq: ARRY) has announced the release date for its third quarter 2024 earnings report. The company will disclose its financial results after market close on Thursday, November 7th, 2024, followed by a conference call at 5:00 p.m. Eastern Time on the same day.

Interested parties can access the conference call via phone by dialing (877)-869-3847 (domestic) or (201)-689-8261 (international). A replay will be available for approximately three hours after the call. Additionally, a simultaneous webcast of the conference call will be accessible through the Investor Relations section of ARRAY's website at http://ir.arraytechinc.com.

ARRAY Technologies (NASDAQ: ARRY), a leader in utility-scale solar tracking, has launched a reusable packaging solution to replace traditional cardboard boxes with durable plastic casing. This innovation aims to reduce waste and support customers' sustainability goals. The new packaging offers several advantages:

1. Increased efficiency: More tracker components can be transported per bulk.
2. Reduced transportation: Fewer trucks required on-site.
3. Decreased labor: Less handling, receiving, and transportation work.
4. Long lifespan: 15 years of use across the supply chain.
5. Cost savings: Potential for significant reductions in packaging expenses.

ARRAY has already successfully deployed this concept on a recent project, garnering strong customer interest for future installations. The company is actively seeking additional customers to pilot this initiative and further analyze its potential savings and environmental impact.