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Array Technologies, Inc. - ARRY STOCK NEWS

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.

Array Technologies, Inc. (NASDAQ: ARRY) stands as the global leader in solar tracking, boasting over 9 gigawatts of operational capacity and nearly three decades of industry experience. Based in Albuquerque, New Mexico, Array Technologies specializes in manufacturing ground-mounting systems for solar energy projects worldwide. The company's flagship single-axis tracker integrates steel supports, electric motors, gearboxes, and electronic controllers to optimize solar panel orientation throughout the day, thereby maximizing energy production.

Array Technologies is dedicated to delivering robust, reliable, and innovative solar tracking solutions that promise the lowest cost of ownership. Their products feature engineered simplicity, ensuring efficient installation and high reliability. The company serves various international markets, including the United States, Australia, Spain, Brazil, and numerous other regions, with the U.S. contributing the majority of its revenue.

Recent achievements highlight Array Technologies' commitment to expanding its global footprint and advancing renewable energy. Notably, the company has formed a strategic partnership with Aluminum Products Company (ALUPCO®) to support renewable energy projects in the Middle East. This collaboration is expected to facilitate the growth of solar capacity in the region, contributing to Saudi Arabia's Vision 2030 initiative aimed at achieving 130 gigawatts of renewable energy by 2030.

Array Technologies continues to innovate, evidenced by the introduction of their Hail Alert Response system. This technology employs advanced weather prediction algorithms to preemptively stow solar trackers approximately 30 minutes before a predicted hail event, safeguarding solar assets and enhancing their longevity.

The company recently announced its Fourth Quarter and Full Year 2023 financial highlights, showcasing its robust financial health and strategic growth. With ongoing investments in technology and a commitment to sustainable energy, Array Technologies is poised to maintain its leadership in the solar tracking market.

News

Array Technologies, Inc. Announces First Quarter 2024 Earnings Release Date and Conference Call

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Array Technologies, Inc. announced the release date for its first quarter 2024 earnings and a conference call schedule. The results will be disclosed on May 9th, 2024, with a conference call at 5:00 p.m. (Eastern Time) on the same day. Investors can access the call via phone or webcast.
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Array Technologies Launches Hail Alert Response

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Array Technologies introduces Hail Alert Response system to protect solar trackers from hail damage, enhancing asset longevity and durability. The system utilizes advanced weather prediction algorithms to preemptively stow solar trackers, ensuring protection against potential damage. Key features include state-of-the-art forecasting, wide applicability, compatibility with existing systems, and secure communication. Array's CEO, Kevin G. Hostetler, emphasizes the company's commitment to innovation and customer value.
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Array Technologies, Inc. Reports Financial Results for the Fourth Quarter and Full Year 2023; Full year 2023 net income of $86 million; Record full year Adjusted EBITDA of $288 million

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Array Technologies (ARRY) reported strong financial results for the fourth quarter and full year 2023, with revenue reaching $1.6 billion and net income of $85.5 million. The company's Adjusted EBITDA doubled to $288.1 million, while free cash flow stood at $215 million. Array also executed contracts and awarded orders totaling $1.8 billion by the end of 2023. The company provided guidance for 2024, expecting revenue between $1.25 billion to $1.4 billion, with a focus on adjusted gross margin growth and continued EBITDA margin growth.
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Array Technologies and Alupco® Announce Strategic Partnership to Fuel Growing Renewable Energy Market in the Middle East

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Array Technologies (ARRY) partners with Aluminum Products Company (ALUPCO®) to expand renewable energy projects in the Middle East. The strategic alliance aims to leverage Array's solar tracking technology and ALUPCO®'s production capabilities to boost the region's renewable energy market. The partnership signifies Array's commitment to global clean energy solutions and highlights the potential for growth in the Middle East's renewable energy sector.
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Array Technologies, Inc. Announces Fourth Quarter and Full Year 2023 Earnings Release Date and Conference Call

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Array Technologies, Inc. (Nasdaq: ARRY) will release its Q4 and full year 2023 results on February 27th, 2024, followed by a conference call. Interested parties can access the call via phone or webcast. The company's website will also host an online replay of the call.
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Array Technologies Appoints Solar Industry Veteran Jessica Lawrence-Vaca as Senior Vice President, Policy and External Affairs

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Array Technologies (NASDAQ: ARRY) has appointed Jessica Lawrence-Vaca as senior vice president, policy and external affairs. With over 20 years of solar and government affairs experience, she will drive brand awareness, shape policy, and expand Array's involvement with trade associations and industry partners worldwide. Lawrence-Vaca's track record of impactful advocacy and communication strategies will help navigate the evolving solar landscape and drive Array's mission forward.
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Array Technologies, Inc. Reports Financial Results for the Third Quarter 2023 – Continues strong operational execution; announced Chief Financial Officer transition

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Array Technologies (NASDAQ: ARRY) announced Q3 2023 revenue of $350.4 million, net income of $10.1 million, and adjusted EBITDA of $57.4 million. Despite a 32% revenue decrease, the company expects positive momentum heading into 2024.
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Array Technologies Introduces Integrated Field Services and Customer Training Offerings to US Customers

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Array Technologies, a global leader in utility-scale solar tracking solutions, has launched its comprehensive Field Services and Customer Training solutions. These offerings aim to reduce operational downtime, increase productivity, and improve quality in the solar industry. The services and training are currently available in the U.S. and will expand to international markets in the future.
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Gov. Lujan Grisham and Array Technologies Announce N.M. Expansion

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Array Technologies, a global solar company, has announced plans for a $50 million manufacturing campus in Bernalillo County, New Mexico. The expansion will solidify the company's future in the state and secure hundreds of jobs for New Mexicans. Construction is expected to begin in early 2024, and the new campus will allow Array to hire nearly 100 new employees. The expansion is projected to have an economic impact of over $300 million over 10 years.
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Array Technologies, Inc. Announces Third Quarter 2023 Earnings Release Date and Conference Call

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Array Technologies to release Q3 2023 results on November 7th
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FAQ

What is the current stock price of Array Technologies (ARRY)?

The current stock price of Array Technologies (ARRY) is $6.385 as of January 22, 2025.

What is the market cap of Array Technologies (ARRY)?

The market cap of Array Technologies (ARRY) is approximately 990.3M.

What does Array Technologies, Inc. specialize in?

Array Technologies specializes in manufacturing ground-mounting systems for solar energy projects, particularly single-axis trackers that optimize solar panel orientation to maximize energy production.

Where is Array Technologies headquartered?

Array Technologies is headquartered in Albuquerque, New Mexico, USA.

What recent strategic partnerships has Array Technologies formed?

Array Technologies recently formed a strategic partnership with Aluminum Products Company (ALUPCO®) to support renewable energy projects in the Middle East.

What is the Hail Alert Response system?

The Hail Alert Response system uses advanced weather prediction algorithms to stow solar trackers before a hail event, protecting solar assets and enhancing their longevity.

Which markets does Array Technologies operate in?

Array Technologies operates in various international markets, including the United States, Australia, Spain, Brazil, and other regions, with the U.S. contributing the majority of its revenue.

How does Array Technologies ensure low cost of ownership?

Array Technologies focuses on engineered simplicity, ensuring efficient installation and high reliability for their solar tracking solutions, which contribute to a low cost of ownership.

What are Array Technologies' recent financial highlights?

Array Technologies recently announced its Fourth Quarter and Full Year 2023 financial highlights, demonstrating strong financial performance and strategic growth.

How does Array Technologies contribute to Saudi Arabia's Vision 2030?

Through its partnership with ALUPCO®, Array Technologies supports the development of renewable energy projects in the Middle East, contributing to Saudi Arabia's Vision 2030 initiative to achieve 130 gigawatts of renewable energy by 2030.

What type of technology does Array Technologies' single-axis tracker include?

Array Technologies' single-axis tracker includes an integrated system of steel supports, electric motors, gearboxes, and electronic controllers to optimize solar panel orientation.

What is the significance of Array Technologies' Hail Alert Response?

The Hail Alert Response is significant because it enhances the resilience and durability of solar investments by protecting solar trackers from hail damage, ensuring continued productivity.
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Array Technologies, Inc.

Nasdaq:ARRY

ARRY Rankings

#2571 Ranked by Market Cap
N/A Ranked by Dividends

ARRY Stock Data

990.32M
151.50M
0.29%
125.94%
16.12%
Solar
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United States of America
ALBUQUERQUE