Array Q1 rev $300.6M, net loss $33.7M; cuts FY22 guide on AD/CVD, Ukraine

Array Technologies, Inc.

2022-Q1 EPS reported -$0.23 revenue$300,586,000

Revenue of $300.6M (+21% YoY) but net loss of $33.7M vs. net income of $4.6M in prior year.
Adjusted EBITDA $0.7M vs. $36.6M last year; adjusted EPS loss $0.02 vs. income $0.20.
Backlog of executed contracts and awarded orders at $2.0B.
FY22 guidance cut: revenue $1.30-1.50B; adjusted EBITDA $120-140M; adj. EPS $0.25-0.35.
Headwinds: AD/CVD investigation, Ukraine conflict, elevated logistics and construction costs.

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