NASDAQ$ARRY
Array Technologies Inc · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Reported financial results for the fourth quarter and full year 2023.
Array Technologies reported Q4 2023 revenue of $341.6 million and net income of $6.0 million. The company's adjusted EBITDA for the quarter was $48.2 million, with an adjusted diluted net income per share of $0.21. The global orderbook has increased to $1.8 billion fueled by $600 million in Q4 2023 bookings.
- Q4 2023 revenue reached $341.6 million.
- Net income to common stockholders was $6.0 million.
- Adjusted EBITDA stood at $48.2 million.
- Global orderbook increased to $1.8 billion, fueled by $600 million in Q4 2023 bookings.
Headline financials
Revenue & EPS history
Array Technologies · Revenue · Quarterly
$342M
Forward guidance
For the year ending December 31, 2024, the Company expects revenue to be in the range of $1,250 million to $1,400 million. Adjusted EBITDA to be in the range of $285 million to $315 million. Adjusted net income per share to be in the range of $1.00 to $1.15.
Tailwinds
- Revenue to be in the range of $1,250 million to $1,400 million
- Adjusted EBITDA to be in the range of $285 million to $315 million
- Adjusted net income per share to be in the range of $1.00 to $1.15
- Projecting another year of growth in adjusted gross margin to the low thirties percent of sales
- Delivering both adjusted EBITDA and adjusted EBITDA margin growth for the third consecutive year.
Headwinds
- Expect relatively flat volume on a full-year basis in 2024
- Declining ASP’s driven by lower commodity input costs
- Ability to lower price from our reduced cost structure
- The pass-through of a portion of the 45X benefit to our customers.
- 2024 revenue will be more weighted to the second half of the year compared to historical performance.
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 2023
-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
| Quarter | Report date | Reaction (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% | |
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| Q4 2015 | — | — | — | |
| Q3 2015 | — | — | — | |
| Q2 2015 | — | — | — |
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