Array Technologies reports Q1 adjusted EPS 13c, consensus 9c

Reports Q1 revenue $302.4M, consensus $264.36M. “ARRAY is off to a great start for 2025 with first quarter high double digits revenue growth compared with the first quarter of 2024, and achieving the second largest quarter of volume shipped since 2023, indicating solid market share recovery and the strength of our execution capabilities. We are now able to provide customers with quotes for our 100% domestic content trackers under Table I of the Inflation Reduction Act (“IRA”), an important milestone for ARRAY, reflecting our continued commitment to supply chain resilience and ability to minimize effects of geopolitical uncertainty, including tariffs. With electricity demand increasing and utility-scale solar being the lowest cost and fastest-growing energy source, domestic customers are expressing greater interest in Volume Commitment Agreements, and we are well positioned to help our customers deploy projects quickly and efficiently. We have a strong orderbook with 18% sequential growth in contracting for the quarter, gaining meaningful traction with Independent Power Producers across Europe, the Middle East and Asia, where we are seeing strong contracting momentum,” said Chief Executive Officer, Kevin G. Hostetler. Mr. Hostetler continued, “Amidst global economic uncertainty related to tariffs, and potential changes to the IRA, we are confident in our ability to navigate changes in the utility-scale solar landscape. As we look forward to building on a strong first quarter, we have flexibility with the strength of our available liquidity, no near-term refinancing requirements, robust operational capabilities and an agile team. We maintain our full year 2025 guidance and remain focused on long-term value creation, deepening customer partnerships, and demonstrating consistent product leadership.”