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.

09/12/2023 08:45 AM

News

Array Technologies Strengthens Domestic Supply Chain Through Base Load Agreement with Steel Dynamics

Rhea-AI Summary

Array Technologies signs long-term agreement with Steel Dynamics to provide coil for U.S. projects, reinforcing domestic supply chain and reducing risks for customers.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

6.98%

Tags

09/11/2023 08:45 AM

News

Long-standing Agreement Between Array Technologies and Extruded Aluminum Corporation Boosts US Manufacturing with Nearly $35 Million Investment in Michigan Facility Expansion

Rhea-AI Summary

Array Technologies reinforces their 10-year partnership with Extruded Aluminum Corporation (EAC) to expand U.S. manufacturing footprint with additional aluminum extrusion capacity. The collaboration enhances Array's capability to source over 85% domestic content, reducing supply chain risk and supporting customers in meeting IRA requirements. EAC's $35 million capital expansion adds jobs and enables design innovation. The partnership strengthens the U.S.-based supply chain and contributes to a self-reliant renewable energy sector.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

0.34%

Tags

08/28/2023 08:30 AM

News

Array Technologies Leads Solar Tracker Industry with Highest US Domestic Content Sourcing

Rhea-AI Summary

Array Technologies is a front-runner in domestic content sourcing, achieving over 85% content from U.S. suppliers, setting an unparalleled benchmark in the solar industry. Their commitment to local sourcing and collaborations with U.S. manufacturers minimizes quality risks and assures timely delivery. Array's focus on domestic content allows customers to maximize their IRA benefits and positions them at the forefront of the renewable energy revolution.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

2.33%

Tags

08/08/2023 04:05 PM

News

Array Technologies, Inc. Reports Financial Results for the Second Quarter 2023 – Strong execution delivers revenue of $507.7 million and record gross margin of 29.6%

Rhea-AI Summary

Array Technologies announces strong Q2 2023 results with revenue of $507.7 million and net income of $52.0 million. Adjusted EBITDA was $115.6 million. Executed contracts and awarded orders at June 30, 2023, totaled $1.7 billion. However, anticipated revenue for 2023 has been negatively impacted due to larger-than-expected pushouts and permitting issues. Despite lower revenue outlook, the company is increasing its forecasted Adjusted EBITDA and Adjusted EPS.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

24.05%

Tags

08/08/2023 08:30 AM

News

Array Technologies Names Aaron Gabelnick as Chief Strategy and Technology Officer

Rhea-AI Summary

Array Technologies (NASDAQ: ARRY) has named Aaron Gabelnick as its chief strategy and technology officer, effective August 7, 2023. Gabelnick brings over 20 years of strategic global business experience, with a focus on technology and sustainability. He will lead Array's corporate strategy, technology development, and capital investments to drive the company's growth and expansion into complementary markets.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

0.73%

Tags

07/20/2023 08:30 AM

News

Array Technologies and Lock Joint Tube Collaborate on New Steel Tube Mill in Texas

Rhea-AI Summary

Array Technologies (NASDAQ: ARRY) has entered into an agreement with Lock Joint Tube to secure supply from a new steel mill in Texas dedicated to manufacturing utility-scale solar tubing. The collaboration aims to boost the integrity of the domestic solar supply chain, create new manufacturing jobs, and support Array’s continued expansion in the U.S., including in Texas and throughout the central U.S. The agreement aligns with Array’s intent to provide the highest US domestic content in the industry, in response to domestic content requirements in the Inflation Reduction Act (IRA).

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-1.23%

Tags

07/18/2023 04:05 PM

News

Array Technologies, Inc. Announces Second Quarter 2023 Earnings Release Date and Conference Call

Rhea-AI Summary

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-1.52%

Tags

06/20/2023 08:30 AM

News

Array Technologies Publishes Third Annual Environmental, Social, and Governance Report

Rhea-AI Summary

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

0.61%

Tags

05/09/2023 04:05 PM

News

Array Technologies, Inc. Reports Financial Results for the First Quarter 2023 – Delivers strong results, with revenue of $376.8 million and gross margin of 26.9%

Rhea-AI Summary

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-2.97%

Tags

04/18/2023 04:05 PM

News

Array Technologies, Inc. Announces First Quarter 2023 Earnings Release Date and Conference Call

Rhea-AI Summary

Array Technologies, Inc. (Nasdaq: ARRY) announced it will release its first quarter 2023 results on May 9, 2023, after market close. A conference call is scheduled for 5:00 p.m. ET that same day, accessible via phone and online. Investors can dial (877)-451-6152 domestically or (201)-389-0879 internationally to participate. A telephonic replay will be available three hours post-call until May 23, 2023. Array Technologies is a global leader in solar tracker technology, focused on enhancing energy production under varied conditions. The company is committed to driving sustainable energy adoption and operates a diversified global supply chain.

Rhea-AI Impact

Rhea-AI Sentiment

End-of-Day

-2%

Tags

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.