- ARRAY Technologies (ARRY, Financial) reported Q1 2025 revenue of $302.4 million, exceeding guidance.
- Net income for the quarter was $2.3 million, with an adjusted EBITDA of $40.6 million.
- The company maintains its 2025 guidance despite market uncertainties.
ARRAY Technologies, Inc. (ARRY) has announced impressive financial results for the first quarter of 2025, surpassing both revenue and earnings guidance. The company achieved a revenue of $302.4 million, witnessing a significant year-over-year growth. The gross margin stood at 25.3%, with an adjusted gross margin of 26.5%.
Net income for Q1 2025 was reported at $2.3 million, translating to an earnings per share of $0.02. Moreover, the company's adjusted EBITDA reached $40.6 million, highlighting robust financial health and operational efficiency. ARRAY’s total executed contracts and awarded orders amounted to an impressive $2.0 billion, indicating a strong order book and growing market traction across key international regions.
In light of the Inflation Reduction Act (IRA), ARRAY now offers 100% domestic content trackers, strengthening its competitive edge and market appeal, especially amidst geopolitical uncertainties. The company's management reaffirmed its full-year 2025 guidance, projecting revenue in the range of $1.05 to $1.15 billion, with adjusted EBITDA anticipated between $180 and $200 million, and adjusted net income per share between $0.60 and $0.70.
Despite facing global economic uncertainties related to tariffs and potential amendments to the IRA, ARRAY has successfully amended and extended its revolving credit facility, showcasing prudent financial management and a strong liquidity position. The company remains committed to navigating industry challenges and leveraging growth opportunities in response to increasing electricity demand and the evolving solar energy landscape.
