10-K · February 25, 2026
Array reported strong top-line growth in 2025 with revenue of $1.283 billion (sum of quarterly revenues: $302M, $362M, $393M, $226M) and has shipped more than 96 gigawatts of trackers through December 31, 2025. The…
Earnings analysis · 10-Q
ARRY earnings analysis
Filed May 6, 2026 · Our reading of the company's report
The latest report
ARRAY Technologies reported a substantial decline in revenues for Q1 2026, totaling $223.4 million, representing a 26% decrease compared to the same quarter last year. Despite this downturn, the diluted EPS rebounded to…
Read full summary
ARRAY Technologies reported a substantial decline in revenues for Q1 2026, totaling $223.4 million, representing a 26% decrease compared to the same quarter last year. Despite this downturn, the diluted EPS rebounded to $0.06 from a loss of $0.02 a year prior, demonstrating a positive surprise against estimates of -$0.06. The management addressed future prospects with a reaffirmation of guidance for the full year, predicting revenues between $1.4 billion and $1.5 billion.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.06
- Gross margin
- 28.2%
- Segment
- Array Legacy Operations: $217,381, STI Operations: $6,031
What stood out
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Revenue Outperformance
Q1 revenue was $223.4 million, beating estimates of $201.25 million.
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EPS Positive Surprise
Reported EPS of $0.06, compared to estimates of -$0.06.
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Stable Gross Margin
Gross margin increased to 28.2%, compared to 25.3% year-over-year.
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Orderbook Growth
Record orderbook reached $2.4 billion.
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Reduced Debt Costs
Interest expense decreased by 31% year-over-year.
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Reaffirmed Yearly Guidance
Management expects 2026 revenue between $1.4 billion and $1.5 billion.
What to watch
-
Significant Revenue Drop
Revenue dropped 26% from $302M in Q1 2025 to $223M in Q1 2026.
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STI Operations Plunge
Revenue from STI Operations decreased by 93%, from $89.1M to $6.0M.
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Increased Operating Expenses
Operating expenses rose by 14%, totaling $55.9 million in Q1 2026.
Management's outlook
Management affirmed their outlook for 2026, expecting revenue between $1.4 billion and $1.5 billion and EPS guidance of $0.65 to $0.75.
Earlier filings 4
10-K · March 3, 2025
Array Technologies presents a differentiated product portfolio (DuraTrack HZ v3, STI H250, OmniTrack, SkyLink and SmarTrack software) with a protected design and broad installed base (more than 83 GW shipped as of…
10-Q · November 7, 2024
Array reported revenue of $231.406 million for the three months ended September 30, 2024, down from $350.438 million in the prior-year quarter. The quarter included a $162.0 million goodwill impairment that drove an…
10-Q · May 9, 2024
Array Technologies reported Q1 revenue of $153.403 million and GAAP diluted loss per common share of $(0.07). Gross profit was $55.090 million (35.9% margin) and income from operations was $8.414 million; operating cash…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.