Array Technologies Inc. (ARRY) Misses Q3 EPS by 2c

Array Technologies Inc. (NASDAQ: ARRY) reported Q3 EPS of ($0.07), $0.02 worse than the analyst estimate of ($0.05). Revenue for the quarter came in at $192.1 million versus the consensus estimate of $203.45 million.

Full Year 2021 Outlook:

“We are making good progress working off our legacy, lower priced backlog and we believe the ‘hangover’ effect on our margins from those orders will dissipate by the first quarter of 2022. We believe our full year 2021 results will be within the range of the guidance we have provided, but likely at the lower end given continued constraints on freight availability which could impact our ability to ship product in the fourth quarter. Any shipments that are delayed from the fourth quarter will result in higher revenues in the first quarter of 2022” said Nipul Patel, Chief Financial Officer of Array Technologies.

For earnings history and earnings-related data on Array Technologies Inc. (ARRY) click here.

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