Array (ARRY) Reports Earnings Tomorrow: What To Expect

Solar tracking systems manufacturer Array (NASDAQ:ARRY) will be reporting results this Thursday afternoon. Here’s what investors should know.

Array beat analysts’ revenue expectations by 14.3% last quarter, reporting revenues of $302.4 million, up 97.1% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ sales volume estimates and an impressive beat of analysts’ EPS estimates.

Is Array a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Array’s revenue to grow 14% year on year to $291.5 million, a reversal from the 49.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.20 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Array has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Array’s peers in the renewable energy segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Generac delivered year-on-year revenue growth of 6.3%, beating analysts’ expectations by 3.4%, and American Superconductor reported revenues up 79.6%, topping estimates by 11.4%. Generac traded up 28.9% following the results while American Superconductor was also up 29.4%.

Read our full analysis of Generac’s results here and American Superconductor’s results here.

There has been positive sentiment among investors in the renewable energy segment, with share prices up 2.1% on average over the last month. Array is down 24.7% during the same time and is heading into earnings with an average analyst price target of $9.33 (compared to the current share price of $5.93).

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