Solar tracking systems manufacturer Array (NASDAQ: ARRY) will be announcing earnings results this Wednesday after market close. Here’s what you need to know.
Array beat analysts’ revenue expectations last quarter, reporting revenues of $226 million, down 17.9% year on year. It was a slower quarter for the company, with full-year EBITDA guidance missing analysts’ expectations significantly and a significant miss of analysts’ EBITDA estimates.
Is Array a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Array’s revenue to decline 33.3% year on year, a reversal from the 97.1% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Array rarely misses Wall Street’s revenue estimates.
Looking at Array’s peers in the renewable energy segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 130%, beating analysts’ expectations by 42%, and Generac reported revenues up 12.4%, topping estimates by 1.1%. Bloom Energy traded up 27.2% following the results while Generac was also up 19.4%.
Read our full analysis of Bloom Energy’s results here and Generac’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 7.6% on average over the last month. Array is up 11% during the same time and is heading into earnings with an average analyst price target of $9.86 (compared to the current share price of $7.74).
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
