Array Q2 rev $255.8M, adj EPS $0.20; cuts FY rev outlook to $900M-$1,000M

Array Technologies, Inc.

2024-Q2 EPS reported $0.00 revenue$409,169,000

Revenue $255.8M, gross margin 33.6%, adjusted gross margin 35.0% including 45X benefits.
Net income $12.0M ($0.08 per share); adjusted diluted EPS $0.20.
Adjusted EBITDA $55.4M; executed contracts $2.0B, new bookings $429M.
FY 2024 revenue guidance lowered to $900M-$1,000M; adjusted EBITDA $185M-$210M.
Q3 revenue expected $220M-$235M; cites AD/CVD petitions and Brazil FX devaluation as headwinds.

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