Latest news with #ARRAY
Yahoo
15-05-2025
- Business
- Yahoo
ARRAY Unveils Hail XP: An Industry-Leading Tracker for Extreme Weather Protection
With 77-degree stow, AC-powered control, and integration with ARRAY's Hail Alert Response system, Hail XP sets a new standard in tracker resilience ALBUQUERQUE, N.M., May 15, 2025 (GLOBE NEWSWIRE) -- ARRAY Technologies (NASDAQ: ARRY) ('ARRAY' or the 'Company'), a leading global provider of solar tracking technology products, software and services, today unveiled DuraTrack Hail XP™, the Company's most advanced tracker designed to withstand extreme hail and wind events. Hail XP builds on ARRAY's proven DuraTrack® platform with a new level of reliability engineered specifically for hail-prone regions. Developed with direct input from customers, insurers, and industry partners, Hail XP is purpose-built to address one of the most pressing challenges facing solar projects today: severe weather risk. With industry-leading protective stow angles available and strong stow reliability, Hail XP isn't just about being the steepest; it's about being the most dependable. 'Hail XP is a breakthrough in tracker resilience,' said Aaron Gabelnick, Chief Strategy and Technology officer at ARRAY Technologies. 'It represents a significant leap forward in safeguarding solar assets by combining innovative engineering with the robust reliability our products are known for, and our customers expect from ARRAY.' As insurers increasingly require proactive weather mitigation strategies, Hail XP sets a new Company benchmark for tracker reliability. Its dependable stow performance helps reduce downtime and damage. Hail XP enhances ARRAY's industry-leading DuraTrack® system with: AC-Powered Stow-on-Demand: Hail XP does not rely on batteries, providing maximum readiness when hail approaches. 77-Degree Stow Capability: Hail XP moves modules to a high-tilt position in either direction regardless of wind conditions to mitigate hail impact. Integrated Protection: Seamlessly integrates with ARRAY's SmarTrack® Hail Alert Response and patented Passive Wind Stow technologies. Enhanced Durability: A reinforced bearing housing, larger gear rack, and upgraded damper deliver performance even in harsh conditions. Availability: Expected to be available for first shipments in early 2026. About ARRAYARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology to utility-scale and distributed generation customers who construct, develop, and operate solar PV sites. With solutions engineered to withstand the harshest weather conditions, ARRAY's high-quality solar trackers, software platforms and field services combine to maximize energy production and deliver value to our customers for the entire lifecycle of a project. Founded and headquartered in the United States, ARRAY is rooted in manufacturing and driven by technology - relying on its domestic manufacturing, diversified global supply chain, and customer-centric approach to design, deliver, commission, train, and support solar energy deployment around the world. For more news and information on ARRAY, please visit Forward Looking Statement This press release contains forward-looking statements that are inherently speculative in nature and involve a number of risks, uncertainties, and assumptions that could cause actual results to differ materially from those anticipated or implied by such statements. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by terms such as 'may,' 'will,' 'could,' 'would,' 'should,' 'anticipate,' 'predict,' 'potential,' 'continue,' 'expects,' 'intends,' 'plans,' 'projects,' 'believes,' 'estimates,' and similar expressions. These forward-looking statements are not historical facts but are based on the Company's current expectations, projections, and assumptions about its business, operations, and other factors. Examples of forward-looking statements include, but are not limited to, statements regarding the Company's expectations about the use of Hail XP, its potential to reduce downtime and damage for solar plants, the reliability and readiness of Hail XP to deploy when hail approaches, and the expected availability of Hail XP for shipments in early 2026. These statements are predictions based on current expectations and, therefore, are not guarantees of future performance. The Company's forward-looking statements involve significant risks, uncertainties, and assumptions, including those related to changes in market demand, adverse regulatory changes, technology limitations or failures, supply chain disruptions, unforeseen costs, and competitive pressures. These factors may hinder the Company's ability to meet its expectations and could lead to actual results materially differing from those stated. In addition, challenges in product development, scalability, and customer adoption may impact the anticipated benefits or outcomes of the product. Forward-looking statements should be evaluated together with the risks and uncertainties that affect the Company's business, operations, and industry. A more detailed description of these factors can be found in the Company's most recent Annual Report on Form 10-K, its most recent Quarterly Report on Form 10-Q, and its other filings with the SEC, which are available on the Company's website at The Company assumes no obligation to update or revise any forward-looking statements, except as required by law, even if new information becomes available or future events occur that may materially alter the anticipated outcomes. Media ContactNicole Investor RelationsARRAY Technologies, Relations investors@
Yahoo
06-05-2025
- Business
- Yahoo
Array's (NASDAQ:ARRY) Q1: Strong Sales, Stock Soars
We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. Array's performance shows it grew in the past but relinquished its gains over the last two years, as its revenue fell by 21.2% annually. Array isn't alone in its struggles as the Renewable Energy industry experienced a cyclical downturn, with many similar businesses observing lower sales at this time. A company's long-term performance is an indicator of its overall quality. Any business can have short-term success, but a top-tier one grows for years. Regrettably, Array's sales grew at a weak 1.2% compounded annual growth rate over the last five years. This was below our standards and is a tough starting point for our analysis. 'ARRAY is off to a great start for 2025 with first quarter high double digits revenue growth compared with the first quarter of 2024, and achieving the second largest quarter of volume shipped since 2023, indicating solid market share recovery and the strength of our execution capabilities. We are now able to provide customers with quotes for our 100% domestic content trackers under Table I of the Inflation Reduction Act ('IRA'), an important milestone for ARRAY, reflecting our continued commitment to supply chain resilience and ability to minimize effects of geopolitical uncertainty, including tariffs." Free Cash Flow was -$15.41 million, down from $45.12 million in the same quarter last year EBITDA guidance for the full year is $190 million at the midpoint, above analyst estimates of $186.1 million The company reconfirmed its revenue guidance for the full year of $1.1 billion at the midpoint Is now the time to buy Array? Find out in our full research report . Solar tracking systems manufacturer Array (NASDAQ:ARRY) announced better-than-expected revenue in Q1 CY2025, with sales up 97.1% year on year to $302.4 million. The company's full-year revenue guidance of $1.1 billion at the midpoint came in 0.6% above analysts' estimates. Its non-GAAP profit of $0.13 per share was 47.4% above analysts' consensus estimates. Story Continues Array Year-On-Year Revenue Growth This quarter, Array reported magnificent year-on-year revenue growth of 97.1%, and its $302.4 million of revenue beat Wall Street's estimates by 14.3%. Looking ahead, sell-side analysts expect revenue to grow 3.9% over the next 12 months. While this projection implies its newer products and services will spur better top-line performance, it is still below average for the sector. Software is eating the world and there is virtually no industry left that has been untouched by it. That drives increasing demand for tools helping software developers do their jobs, whether it be monitoring critical cloud infrastructure, integrating audio and video functionality, or ensuring smooth content streaming. Click here to access a free report on our 3 favorite stocks to play this generational megatrend. Operating Margin Array was roughly breakeven when averaging the last five years of quarterly operating profits, one of the worst outcomes in the industrials sector. This result isn't too surprising given its low gross margin as a starting point. Analyzing the trend in its profitability, Array's operating margin decreased by 20.9 percentage points over the last five years. This raises questions about the company's expense base because its revenue growth should have given it leverage on its fixed costs, resulting in better economies of scale and profitability. Array's performance was poor no matter how you look at it - it shows that costs were rising and it couldn't pass them onto its customers. Array Trailing 12-Month Operating Margin (GAAP) This quarter, Array generated an operating profit margin of 9%, up 3.5 percentage points year on year. The increase was encouraging, and because its gross margin actually decreased, we can assume it was more efficient because its operating expenses like marketing, R&D, and administrative overhead grew slower than its revenue. Earnings Per Share Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Sadly for Array, its EPS declined by 18% annually over the last five years while its revenue grew by 1.2%. This tells us the company became less profitable on a per-share basis as it expanded. Array Trailing 12-Month EPS (Non-GAAP) Diving into the nuances of Array's earnings can give us a better understanding of its performance. As we mentioned earlier, Array's operating margin improved this quarter but declined by 20.9 percentage points over the last five years. This was the most relevant factor (aside from the revenue impact) behind its lower earnings; taxes and interest expenses can also affect EPS but don't tell us as much about a company's fundamentals. Like with revenue, we analyze EPS over a shorter period to see if we are missing a change in the business. For Array, its two-year annual EPS declines of 77.3% show it's continued to underperform. These results were bad no matter how you slice the data. In Q1, Array reported EPS at $0.13, up from negative $0.17 in the same quarter last year. This print easily cleared analysts' estimates, and shareholders should be content with the results. Over the next 12 months, Wall Street is optimistic. Analysts forecast Array's full-year EPS of negative $0.34 will flip to positive $0.65. Key Takeaways from Array's Q1 Results We were impressed by how significantly Array blew past analysts' revenue, EPS, and EBITDA expectations this quarter. We were also excited its guidance topped Wall Street's estimates. Zooming out, we think this quarter featured some important positives. The stock traded up 9.8% to $5.40 immediately after reporting. Array put up rock-solid earnings, but one quarter doesn't necessarily make the stock a buy. Let's see if this is a good investment. If you're making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here, it's free.
Biz Bahrain
24-04-2025
- Business
- Biz Bahrain
Kawader Skills Portal continues to provide employment opportunities for Bahraini talent in the ICT Sector
In line with the Labour Fund 'Tamkeen's' mission to enhance the competitiveness of Bahraini nationals, making them the first choice of employment in the labor market and supporting the private sector to be the key driver of economic growth, the Kawader Skills Portal continues to serve as a platform connecting skilled Bahraini professionals with employment opportunities in the Information and Communication Technology (ICT) Sector. The Kawader Skills Portal offers private sector organizations access to a centralized and comprehensive database of Bahraini professionals with specialized skills in ICT. This digital platform enables employers to efficiently identify and recruit talent that aligns with their business needs, further supporting the continued expansion of this critical sector. In addition, it also provides job seekers and current professionals in the field with access to employment and career development opportunities – helping to strengthen the career paths of local talents. 'Through Kawader, we successfully hired highly qualified local professionals capable of driving transformation within the fast-growing ICT sector – one of the most dynamic pillars of the national economy,' said Mr Talal Al Araifi, Chief Executive Officer of Mazad– one of the many Bahraini companies that have already benefited from the Kawader Platform by recruiting top local ICT professionals. Mr Al Araifi added that the platform provided a seamless access to a pool of qualified candidates, who are aligned with the evolving demands of the private sector, ready to enter the labor market. Meanwhile, ARRAY Chief Executive Officer and Founder Alaa Saeed highlighted Kawader's pivotal role in in bridging the gap in the market. 'We take pride in supporting Bahraini talent and providing them with employment opportunities within the ICT sector. We have benefited from Tamkeen's 'Kawader' platform to promote job openings at ARRAY, and we found the platform to be user-friendly and effective, offering us a database of local talent available in the job market. As a result, we successfully filled several vacancies through 'Kawader' and continue to use it regularly. We also value Tamkeen's efforts and initiatives in developing this platform to support the employment of local talent.' Kawader compliments Tamkeen's broader efforts to strengthen the ICT sector through various training programs, strategic partnerships and initiatives designed to further enrich this high-potential industry. The platform is open to all qualified professionals interested in careers within the ICT field, allowing them to create profiles, upload resumes and connect with hiring companies. Additionally, private sector organizations can post vacancies and access a talent pool tailored to the ICT market via the platform's website:
Daily Tribune
23-04-2025
- Business
- Daily Tribune
Tamkeen Launches 'Kawader' Platform to Boost Employment in Bahrain's ICT Sector
TDT | Manama In line with its mission to enhance the competitiveness of Bahraini citizens and support the private sector as a key driver of sustainable economic growth, the Labour Fund "Tamkeen" has launched the national initiative "Kawader". This platform offers an integrated database that enables private sector companies to recruit specialized national talents in the field of Information and Communication Technology (ICT). The "Kawader" platform provides beneficiaries with access to local expertise possessing the necessary skills and specializations in the ICT sector, through a unified and comprehensive electronic system. This initiative aims to help employers find the talent they need, thereby supporting the rapid growth of this critical sector. Additionally, it offers job seekers and existing ICT professionals opportunities for employment and career advancement, contributing to the overall professional development of local talent. Several Bahraini companies have already benefitted from the "Kawader" platform, successfully recruiting top local ICT professionals. Commenting on the initiative, Talal Alarifi, CEO of Mazad, said: "Through the 'Kawader' platform, we have been able to recruit distinguished local talents capable of driving change within the growing ICT sector, which is one of the fastest-expanding sectors in the national economy. The platform has made it easy to access a pool of qualified, work-ready individuals whose skills meet the needs of private sector companies." Alaa Saeed, Founder and CEO of ARRAY, added: "We take pride in supporting Bahraini talent and providing them with employment opportunities in the tech sector. Using Tamkeen's 'Kawader' platform, we were able to promote job vacancies within ARRAY. The platform is user-friendly, highly efficient, and offers a robust database of local talents. Thanks to 'Kawader', we successfully filled several positions and continue to use it regularly. We truly appreciate Tamkeen's efforts in developing this initiative to empower local talent." The "Kawader" platform complements Tamkeen's broader efforts to strengthen the ICT sector through various training initiatives, partnerships, and programs aimed at enriching this rapidly growing field. The platform allows individuals with specialized ICT experience to register, create profiles, and upload their résumés. Likewise, companies can post job vacancies and access a pool of skilled professionals via the website
Yahoo
06-02-2025
- Business
- Yahoo
ARRAY Technologies, Inc. Announces Fourth Quarter and Full Year 2024 Earnings Release Date and Conference Call
ALBUQUERQUE, N.M., Feb. 06, 2025 (GLOBE NEWSWIRE) -- ARRAY Technologies, Inc. (the 'Company' or 'ARRAY') (Nasdaq: ARRY) today announced that the company will release its fourth quarter and full year 2024 results after the market close on Thursday, February 27, 2025, to be followed by a conference call at 5:00 p.m. (Eastern Time) on the same day. The conference call can be accessed live over the phone by dialing (877)-869-3847 (domestic) or (201)-689-8261 (international). A telephonic replay will be available approximately three hours after the call by dialing (877)-660-6853, or for international callers, (201)-612-7415. The passcode for the live call and the replay is 13750627. The replay will be available until 11:59 p.m. (ET) on March 13, 2025. Interested investors and other parties may also listen to a simultaneous webcast of the conference call by logging onto the Investor Relations section of the Company's website at The online replay will be available for a limited time beginning immediately following the call. About ARRAY Technologies, Inc. ARRAY Technologies (NASDAQ: ARRY) is a leading global renewable energy company and provider of utility-scale solar tracking technology. Engineered to withstand the harshest conditions on the planet, ARRAY's high-quality solar trackers and sophisticated software maximize energy production, accelerating the adoption of cost-effective and sustainable energy. Founded and headquartered in the United States, ARRAY relies on its diversified global supply chain and customer-centric approach to deliver, commission, and support solar energy developments around the world, lighting the way to a brighter, smarter future for clean energy. For more news and information on ARRAY, please visit Investor Relations Contact: ARRAY Technologies, Relations 505-437-0010investors@ in to access your portfolio
