NASDAQ$ARRY

Array Technologies Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported financial results for the fourth quarter and full year 2021.

Array Technologies reported Q4 2021 revenue of $219.9 million and a net loss of $32.1 million. The company's adjusted EBITDA was $0.5 million, and adjusted loss per share was $(0.06). Executed contracts and awarded orders totaled $1.8 billion as of December 31, 2021.

  • Revenue increased 22% to $219.9 million compared to the prior-year period.
  • Net loss to common stockholders was $32.1 million compared to a net loss of $9.8 million during the same period in the prior year.
  • Adjusted EBITDA decreased to $0.5 million, compared to $20.0 million for the prior-year period.
  • Total executed contracts and awarded orders at December 31, 2021 were $1.8 billion.

Headline financials

Total Revenue

$220M

Previous: $181M+21.8%
EPS (adj)

-$0.06

Previous: $0.08-175.0%
Capital Expenditures

$1.11M

Previous: $728K+51.8%
Free Cash Flow

-$98.5M

Previous: $104M-195.1%
Net Income

-$21.9M

Previous: -$9.77M-124.1%
Operating Income

-$20M

Previous: -$2.24M-793.4%
Gross Profit

$10.3M

Previous: $35.5M-71.0%
Cash & Equivalents

$368M

Previous: $108M+239.1%
Total Assets

$1.14B

Previous: $656M+74.2%
Stock-Based Comp

$2.05M

Previous: $1.55M+32.8%

Revenue & EPS history

Array Technologies · Revenue · Quarterly

$220M

Q4 2021+21.8%vs Q4 2020
Beat estimate in 11 of 13 quarters(85%)
ActualEstimate

Forward guidance

For the year ending December 31, 2022, the Company expects revenue to be in the range of $1.45 billion to $1.75 billion, adjusted EBITDA to be in the range of $170 million to $210 million and adjusted net income per share to be in the range of $0.55 to $0.74.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2021

Historical avgQ4 2021

-0.3%

Avg return

Earnings day

+2.0%

Avg return

5 days after

+3.3%

Avg return

30 days after

63%

15 / 24 earnings

Positive

+29.5%

Q3 2021

Best reaction

-45.9%

Q1 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.6%+6.5%-1.2%
Q4 2025-33.9%-31.8%-33.4%
Q3 2025+2.0%+0.5%-5.4%
Q1 2025+3.9%+20.7%+50.1%
Q3 2024+1.7%+10.9%-5.4%
Q2 2024-18.0%-19.1%-26.3%
Q1 2024+2.0%+0.9%+7.4%
Q4 2023+5.2%+5.5%+11.3%
Q3 2023-16.6%-22.2%-11.8%
Q2 2023+25.0%+32.9%+33.9%
Q1 2023-0.1%+17.7%+22.2%
Q4 2022+13.9%+7.2%+21.7%
Q3 2022+20.9%+29.0%+32.0%
Q2 2022+26.2%+24.7%+14.1%
Q1 2022-12.2%-3.1%+84.4%
Q4 2021-7.5%-22.1%-23.2%
Q3 2021+29.5%+30.0%-15.8%
Q2 2021+14.0%+13.0%+16.1%
Q1 2020-45.9%-42.8%-34.4%
Q1 2021-45.9%-42.8%-34.4%
Q2 2020+0.1%+0.9%-14.9%
Q4 2020+0.7%+3.8%-9.2%
Q4 2019+4.1%+17.2%+5.3%
Q3 2020+24.7%+10.5%-5.1%
Q3 2019
Q2 2019
Q1 2019
Q4 2018
Q3 2018
Q2 2018
Q1 2018
Q4 2017
Q3 2017
Q2 2017
Q1 2017
Q4 2016
Q3 2016
Q2 2016
Q1 2016
Q4 2015
Q3 2015
Q2 2015

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