Array Technologies fourth quarter revenue exceeded analysts’ expectations. However, its earnings missed estimates.
The company’s Q4 2021 revenues rose +22% from the year-ago quarter to $219.9 million, beating the consensus estimates of $213.82 million.
Adjusted net loss incurred in the quarter was -$0.06, wider than the expected -$0.03.
Looking ahead, Array projects 2022 revenue in the range of $1.45-$1.75 billion against street expectations of $1.39 billion. The expected revenue growth is roughly 85% at the midpoint, while the legacy Array business is projected to grow by over +40% .