ARRY Earnings Prediction
The chart below shows how ARRY performed 10 days before and after its earnings report, based on data from the past quarters. Typically, ARRY sees a +2.91% change in stock price 10 days leading up to the earnings, and a +7.02% change 10 days following the report. On the earnings day itself, the stock moves by +1.83%. This data can give you a slight idea of what to expect for the next quarter's release.
ARRY Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
231.41M
-33.97%
-9.52%
Gross Margin
30.00%
35.01%
-0.56%
Operating Margin
12.66%
9.80%
-19.26%
Net Margin
-61.08%
-1026.86%
-707.76%
EPS
-1.02
-1557.14%
-1375.00%
No Data Available
ARRY Earnings Analysis
Array Technologies, Inc. Common Stock Corporation (ARRY.O) Earnings Conference Call
Positive
Revenue Achievement Exceeds Guidance: We achieved $231 million of revenue, which was in the upper half of the guidance range we provided on our last earnings call.
Adjusted Gross Margin Analysis: Adjusted gross margin came in at 35.4%, which included 45X benefits related to both torque tubes and structural fasteners.
Gross Margin Improvement: Compared to the prior year, our adjusted gross margin performance reflected a 940 basis point improvement.
Strong EBITDA and Cash Flow: We also delivered $46.7 million of adjusted EBITDA, representing 20.2% of revenue, and we generated $43.9 million of free cash flow to end the quarter with a strong cash balance of $332 million.
Consistent Order Book: Our order book remained consistent at $2 billion to end the quarter.
Negative
Revenue Decline Analysis: Revenue decreased by 34% to $231.4 million compared to the third quarter of 2023, primarily due to project pushouts experienced this year.
Operating Expenses Surge: Operating expenses increased to $211 million, up approximately $164 million from $47.2 million during the same period of the previous year, driven by a $162 million non-cash goodwill impairment charge related to the 2022 STI acquisition.
Net Loss Comparison: Net loss attributable to common shareholders in Q3 2024 was $155.4 million compared to net income of $10 million in the prior year period.
Adjusted Net Income Decline: Adjusted net income was $26.5 million versus $31.7 million during the third quarter of 2023, with adjusted basic and diluted net income per share of $0.17 compared to $0.21 during the prior year period.
Free Cash Flow Comparison: Free cash flow for the period was $43.9 million versus $69.4 million for the same period last year.
ARRY FAQs
How does ARRY typically perform around its earnings report dates?
Is Array Technologies, Inc. (ARRY) Q3 2024 Earnings Call Summary positive or negative?
How can historical earnings data help predict future stock performance?
ARRY Earning Call Sentiment
Array Technologies, Inc. (ARRY) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
ARRY.O
-6.38%Positive
The earnings call reveals several concerns: a significant revenue decline (34% YoY), a net loss of $155.4 million, and increased operating expenses due to a goodwill impairment charge. Despite improved margins and raised free cash flow guidance, the weak financial results overshadow these positives. Additionally, management's vague responses in the Q&A, especially regarding backlog and bookings, add uncertainty. The market cap of $1.6 billion suggests a moderate reaction, leading to a predicted stock price movement in the negative range (-2% to -8%) over the next two weeks.