Array Technologies

Array Technologies reports a record backlog of $2.5 billion (+37% year‑over‑year) and a book‑to‑bill ratio of 1.5, with newer products making up roughly 50% of the order book. The company is expanding into an integrated balance‑of‑system platform offering foundations, trackers, electrical systems, controls and software, and has delivered 102 GW globally. Array targets annual U.S. shipments of 36–39 GW by 2030, plans significant U.S. capacity expansions for solar and storage, and expects free cash flow growth in 2027 with core‑business net leverage below 2.5. Acquisitions: APA was acquired in 2025 and AWM is expected to close in Q3 2026; APA and AWM are expected to materially expand market and margin profiles. » Más en de.investing.com

Array Technologies reported adjusted EPS of $0.24 and revenue of $342.1 million for Q2, with both metrics significantly beating consensus estimates. Revenue rose 53% year over year, backlog reached $2.5 billion for a third consecutive record, and adjusted gross margin improved to 30.8%. Management reaffirmed full-year revenue guidance of $1.4–$1.5 billion but raised targets for gross margin and adjusted EBITDA/EPS, while warning of revenue timing shifts and lower free-cash-flow conversion. The stock fell in regular trading but recovered slightly in after-hours trading as investors weighed the strong quarter against a mixed outlook. » Más en de.investing.com

Array Technologies has introduced the Atlas solution, an integrated foundation-to-tracker platform offered in two configurations: Atlas I for standard soils with an adjustable C-profile and shortened driven foundations, and Atlas II for difficult ground conditions with a dual-foot interface and significantly fewer components. Both variants are based on a common bearing-housing platform and are intended to enable faster installation, more efficient procurement and greater project certainty. The company points to an annual market for tracker foundations of more than USD 1 billion; the product launch follows the acquisition of APA Solar in 2025. » Más en de.investing.com

JPMorgan downgraded Array Technologies from "Overweight" to "Neutral" and cut the price target to $8.00, prompting the stock to slip in premarket trading. Several analysts had already trimmed targets or affirmed "Hold" ratings earlier, while Jefferies kept its buy recommendation despite lowering its target. Investors are worried about an update on preferred shares and possible dilution from capital-raising measures; the stock has already lost around 30% in recent weeks. The company plans an investor technology showcase on August 20 with CEO Kevin Hostetler, which could rekindle debate over integration costs and capital allocation. » Más en de.investing.com

ARRAY Technologies has agreed to acquire Affordable Wire Management (AWM) for about $203 million. The purchase price equals 8.8 times AWM’s last twelve months EBITDA; AWM most recently generated just under $60 million in revenue. The consideration comprises a $153 million base purchase price plus up to $50 million in additional payments (including an earn‑out of up to $40 million). ARRAY expects the acquisition to raise adjusted earnings per share by a high single-digit percentage in the first year before synergies; closing is expected in Q3 2026 and is subject to regulatory approvals. » Más en de.investing.com