Overview

• US solar tracker maker's Q1 revenue declined yr/yr to $223.4 mln

• Adjusted net income per diluted share fell to $0.06 from $0.13 last year

• Company set record $2.4 bln in executed contracts and awarded orders, reaffirmed 2026 guidance

Outlook

• Array Technologies expects Q2 2026 revenue between $300 mln and $320 mln

• Company reaffirms 2026 revenue guidance of $1.4 bln to $1.5 bln

• Company sees 2026 adjusted EBITDA of $200 mln to $230 mln and adjusted EPS of $0.65 to $0.75

Result Drivers

• ORDERBOOK GROWTH - Co said record orderbook was driven by traction with new product offerings and investment in software and services

• INTERNATIONAL EXPANSION - Co cited contracted projects in Turkey, Peru, and Colombia as evidence of international diversification

Company press release: ID:nGNX4MrlyQ

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Orders		$2.40 bln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 12 "strong buy" or "buy", 11 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the renewable energy equipment & services peer group is "buy"

• Wall Street's median 12-month price target for Array Technologies Inc is $10.00, about 22.2% above its May 5 closing price of $8.18

• The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 13 three months ago

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