Array Tech Q3 revenue $231.4M, net loss $155.4M on $162M goodwill impairment; adjusts FY24 guidance

Array Technologies, Inc.

2024-Q3 EPS reported -$1.02 revenue$640,575,000

Revenue $231.4M; adjusted gross margin 35.4%; adjusted EBITDA $46.7M.
Net loss of $155.4M includes $162M non-cash goodwill impairment from 2022 STI acquisition.
Adjusted diluted EPS $0.17 vs diluted GAAP loss $(1.02).
FY24 revenue guidance narrowed to $900M-$920M; adjusted EBITDA $170M-$180M; adjusted EPS $0.60-$0.65.
Executed contracts and awarded orders $2.0B; free cash flow guided $100M-$115M.

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