Array Technologies, Inc. (NASDAQ:ARRY) shares plunged in Wednesday's extended trading after the company released its fourth-quarter earnings report and weak forward guidance.
Here's a look at the details from the report.
The Details: Array Technologies reported quarterly losses of one cent per share, which met the consensus estimate, according to Benzinga Pro.
Quarterly revenue came in at $226.04 million, which beat the Street estimate of $212.02 million, but was down from $275.23 million in the same period last year.
“ARRAY closed out an exceptional year in which we further demonstrated the resilience and agility of our business,” CEO Kevin Hostetler said.
“Our $2.2 billion record orderbook reflects the focused investment we have made in strengthening our commercial organization, enhancing customer engagement, and advancing our product portfolio and technical sales capabilities,” Hostetler added.
Outlook: The company expects fiscal 2026 adjusted EPS of 65 cents to 75 cents, versus the 86 cent analyst estimate, and revenue in a range of $1.4 billion to $1.5 billion, versus the $1.46 billion estimate.
ARRY Stock Price: According to data from Benzinga Pro, Array Technologies stock fell 24.18% to $8.34 in Wednesday's extended trading.
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