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published in Blogs
Apr 06, 2022
Array Technologies (ARRY, $10.57) beats revenue estimates; misses earnings forecast

Array Technologies (ARRY, $10.57) beats revenue estimates; misses earnings forecast

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% .

Related Tickers: ARRY