Latest news with #ARRAYTechnologies
Yahoo
17-07-2025
- Business
- Yahoo
ARRAY Technologies, Inc. Announces Second Quarter 2025 Earnings Release Date and Conference Call
ALBUQUERQUE, N.M., July 17, 2025 (GLOBE NEWSWIRE) -- ARRAY Technologies, Inc. (the 'Company' or 'ARRAY') (Nasdaq: ARRY), a global leader in utility-scale solar tracking, today announced that the Company will release its second quarter 2025 results after the market closes on Thursday, August 7, 2025, to be followed by a conference call at 5:00 p.m. (Eastern Time) that same day. The conference call can be accessed live over the phone by dialing (866)-682-6100 (domestic) or (862)-298-0702 (international), or via webcast of the live conference call by logging onto the Investor Relations section of the Company's website at A telephonic replay will be available approximately three hours after the call by dialing (877)-660-6853 (domestic), or (201)-612-7415 (international), with the passcode 13754449. The replay will be available until 11:59 p.m. (ET) on August 21, 2025. The online replay will be available for 30 days on the same website, immediately following the call. About ARRAY Technologies, Inc. ARRAY Technologies, Inc. (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 Investor Relations Contact:Investor Relations505-437-0010investors@ Media Contact:Nicole
Yahoo
27-06-2025
- Business
- Yahoo
Array Technologies Closes Upsized Offering of Its 2.875% Convertible Senior Notes
$345 million raised; approximately $334 million of net proceeds $233 million of term loan outstanding balance to be repaid with proceeds $78 million of proceeds used to repurchase $100 million principal of 1.00% Convertible Senior Notes due 2028 $35 million of proceeds used to acquire Capped Calls elevating conversion price to $12.74 per share ALBUQUERQUE, N.M., June 27, 2025 (GLOBE NEWSWIRE) -- ARRAY Technologies, Inc. (NASDAQ: ARRY) (the 'Company' or 'ARRAY') today announced the closing of its previously announced private offering of $345 million aggregate principal amount of its 2.875% convertible senior notes due July 2031 (the 'Notes'). The Notes were sold in a private offering only to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended. The offering represents the aggregate of both the previously announced, upsized offering of $300 million, as well as the full exercise of the $45 million option to purchase additional Notes granted by ARRAY to the initial purchasers of the Notes. Kevin G. Hostetler, Chief Executive Officer of ARRAY, said, 'This successful offering marks a significant milestone in our ongoing efforts to strengthen ARRAY's capital structure and position the company for long-term growth. By refinancing higher-cost debt and proactively managing our debt maturity profile, we are enhancing our financial flexibility while minimizing potential dilution for shareholders. These actions reflect our continued commitment to disciplined capital allocation and delivering sustainable value.' H. Keith Jennings, Chief Financial Officer of ARRAY, added, 'We are pleased with the strong demand for our convertible notes offering, which allowed us to upsize the transaction and optimize our balance sheet. The repayment of our term loan affords us the full maturity extension of our revolving credit facility, and the repurchase of a portion of our 2028 convertible notes at a discount generates meaningful shareholder value. Additionally, the capped call transactions provide important protection against dilution, aligning with our focus on prudent financial management.' The net proceeds from the offering were approximately $334.1 million, after deducting the initial purchasers' discounts and estimated expenses payable by ARRAY. ARRAY intends to use (i) a portion of the net proceeds, together with approximately $12.1 million cash on hand, to fully repay the approximately $232.8 million of outstanding indebtedness under its term loan facility, (ii) approximately $35.1 million of the net proceeds to fund the cost of entering into the capped call transactions and (iii) a portion of the net proceeds to fund repurchases of approximately $100 million in aggregate principal amount of its outstanding 1.00% Convertible Senior Notes due 2028 for approximately $78.3 million in cash, plus accrued and unpaid interest. The capped call transactions entered into in connection with the offering are expected to generally reduce potential dilution to the common stock upon conversion of the Notes or to offset any cash payments the Company is required to make in excess of the principal amount of converted Notes, as the case may be, with the reduction or offset subject to a cap initially equal to $12.74 per share. The capped calls have an initial strike price of $8.12 per share, subject to adjustments, which corresponds to the initial conversion price of the Notes. Total annual net interest expense savings resulting from these transactions is expected to be approximately $9 million and will enhance free cash flow generation. About Array Technologies, Inc. ARRAY Technologies, Inc. (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 ARRAY's 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 Media Contact:Nicole Investor Relations Contact:ARRAY Technologies, Relationsinvestors@ Forward-Looking Statements This press release includes 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as 'estimate,' 'plan,' 'project,' 'forecast,' 'intend,' 'will,' 'shall,' 'expect,' 'anticipate,' 'believe,' 'seek,' 'target,' 'continue,' 'could,' 'may,' 'might,' 'possible,' 'potential,' 'predict' or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to the intended use of the net proceeds and the expected savings from the offering. Forward-looking statements involve inherent risks and uncertainties, and important factors (many of which are beyond the Company's control) that could cause actual results to differ materially from those set forth in the forward looking statements, including risks and uncertainties associated with market conditions, including market interest rates, the trading price and volatility of ARRAY's common stock, the Company's business and operations and results of financing efforts, including those described in more detail in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, Quarterly Report on Form 10-Q for the quarter ended March 31, 2025 and subsequent reports and other documents on file with the U.S. Securities and Exchange Commission. The forward-looking statements included in this press release speak only as of the date of this press release. Except as required by law, the Company does not undertake, and specifically disclaims, any obligation to update any forward-looking statements to reflect events or circumstances occurring after the date of such in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Associated Press
18-06-2025
- Business
- Associated Press
ARRAY Technologies to Acquire APA Solar
ALBUQUERQUE, N.M., June 18, 2025 (GLOBE NEWSWIRE) -- ARRAY Technologies (NASDAQ: ARRY) ('ARRAY' or the 'Company'), a leading global provider of solar tracking technology products, software, and services for utility-scale solar energy projects, today announced it has entered into a definitive agreement to acquire APA Solar, LLC ('APA'), a leading provider of engineered foundation solutions and fixed-tilt mounting systems for solar projects. APA's products are manufactured in Ohio and are eligible for incentives tied to domestic content. APA generated approximately $129 million of revenue and $25 million of EBITDA excluding 45X credits in 2024. The acquisition of APA is expected to be accretive to ARRAY's Adjusted EPS in year one before synergies. Following the closing of the acquisition, ARRAY will begin offering an integrated tracker + foundation system, leveraging ARRAY's advanced solar tracking technology and APA's innovative foundation solutions. The integrated product offering will provide EPCs and developers a domestically manufactured, easy to install solution for the hard, mixed, and frost heave soil conditions that are increasingly prevalent in new solar projects. ARRAY will also continue to offer APA's foundation solutions for other tracker systems as well as the company's fixed-tilt racking products which are widely used in commercial and industrial solar projects in the Northeast and Midwest. 'We are thrilled to announce the acquisition of APA, a strategic move that strengthens our capabilities and expands the value we deliver to our customers. Demand for engineered foundations is growing rapidly because of their ability to make projects in areas with more challenging soil conditions economically viable. APA has a proven foundation system that performs in the toughest soil conditions, and is more efficient and less costly to install than competitors' offerings,' commented Kevin G. Hostetler, Chief Executive Officer of Array. Mr. Hostetler added, 'The market has been asking for an integrated tracker plus foundation platform - with this acquisition, ARRAY will be in a position to deliver it. We have a shared vision with APA for what our combined technologies can achieve for customers and I'm incredibly excited about the new opportunities we will be able to unlock together.' Josh Von Deylen, Chief Executive Officer of APA, said 'Joining forces with ARRAY is a tremendous opportunity for our team and our customers. With our shared commitment to innovation and excellence, we're excited to combine our strengths to drive even greater value for our solar industry partners. This acquisition marks the beginning of an exciting new chapter for our business.' Joe Von Deylen, Chief Operations Officer of APA, added 'This is a pivotal moment for the APA team. With ARRAY, we gain access to expanded resources, additional expertise, and a global commercial platform to scale our business. We're confident this partnership will enhance our ability to serve customers in the utility scale segment and further drive our operational excellence.' The transaction values APA at approximately $179 million or 7.6x trailing 12 months EBITDA excluding 45X credits, comprised of $168 million of upfront cash consideration, and $42 million of deferred consideration less $31 million of net present value of tax benefits generated as a result of the transaction. The deferred consideration is payable in two equal installments on the first and second anniversary of the closing, each conditioned on the continued employment of Josh and Joe Von Deylen; and may be paid in cash or stock at ARRAY's option. The final amount of upfront cash consideration and deferred consideration will be determined at closing subject to customary purchase price adjustments. The sellers of APA are also eligible for a performance based earnout with an initial value of $40 million of ARRAY common stock based upon APA's achievement of certain EBITDA targets during the three-year period following the closing. Josh Von Deylen and Joe Von Deylen, the Chief Executive Officer and Chief Operations Officer of APA, respectively, as well as the rest of the company's senior management team, will remain with APA following the closing of the acquisition and lead the new 'Foundation Solutions Business' of ARRAY. APA's headquarters and principal manufacturing operations will continue to be located in Ridgeville Corners, Ohio. Transaction Approvals and Closing Conditions The transaction is expected to close in the third quarter of 2025, subject to receiving any required regulatory approvals and the satisfaction of other customary closing conditions. Jefferies LLC acted as exclusive financial advisor and Kirkland & Ellis acted as legal advisor to ARRAY in connection with the transaction. Donelly Penman & Partners acted as exclusive financial advisor, and Rupp, Hagans & Bohmer, LLP and Eastman & Smith as legal advisors to APA. Additional information regarding the transaction will be included in a Current Report on Form 8-K to be filed by ARRAY with the U.S. Securities and Exchange Commission (the 'SEC'). Transaction Conference Call ARRAY will conduct a conference call today at 8:30 a.m. EDT to discuss the transaction. A live webcast of the event will be available on the investor relations section of ARRAY's website at A replay of the webcast will be available for all stakeholders on the investor relations website following the conclusion of the event. Additional Resources Associated presentation materials regarding the transaction are available on the investor relations section of ARRAY's website. About ARRAY Technologies, Inc. ARRAY 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 Media Contact: Nicole Stewart 505.589.8257 [email protected] Investor Relations Contact: ARRAY Technologies, Inc. Investor Relations [email protected] Forward Looking Statements This press release contains forward-looking statements that are based on our management's beliefs and assumptions and on information currently available to our management. Forward-looking statements include statements that are not historical facts and can be identified by terms such as 'anticipate,' 'believe,' 'could,' 'estimate,' 'expect,' 'anticipates,' 'intend,' 'may,' 'plan,' 'potential,' 'predict,' 'project,' 'seek,' 'should,' 'will,' 'would,' 'designed to' or similar expressions and the negatives of those terms. Forward-looking statements include statements regarding the proposed acquisition of APA, the anticipated benefits (including synergies) of the proposed transaction, the anticipated impact of the proposed transaction on the Company's business and future financial and operating results, the expected timing of the proposed transaction, including the expected closing date of the acquisition and the timing of expected synergies and returns from the proposed transaction, and the Company's future financial position, business strategy, revenues, earnings, free cash flow, costs, capital expenditures and debt levels of the combined company, and plans and objectives of management for future operations. Actual results and the timing of events could materially differ from those anticipated in such forward-looking statements as a result of certain risks, uncertainties and other factors, including without limitation: the ability to complete the proposed transaction on anticipated terms and timetable; ARRAY's ability to integrate APA's operations in a successful manner and in the expected time period; the Company's ability to achieve the strategic and other objectives relating to the proposed transaction; the possibility that various closing conditions for the proposed transaction may not be satisfied or waived; and risks relating to any unforeseen liabilities of APA; Forward-looking statements should be evaluated together with the risks and uncertainties that affect our business and operations, particularly those described in more detail in the Company's most recent Annual Report on Form 10-K and subsequent reports and other documents on file with the SEC, each of which can be found on our website, The forward-looking statements included in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Non-GAAP Financial Information This press release includes certain financial measures that are not presented in accordance with U.S. generally accepted accounting principles ('GAAP'), including EBITDA. 'EBITDA' means, with reference to any historical period of APA Solar, net income (loss) to common shareholders plus interest expense, income tax expense (benefit), depreciation, and amortization. We believe that the presentation of EBITDA enhances the reader's understanding of past financial performance and future prospects. Our management team uses EBITDA in assessing performance, as well as in planning and forecasting future periods. The non-GAAP financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. EBITDA, as used in this press release, may be different from, and thus may not be comparable to, similarly titled non-GAAP measures used by other companies. In the case of non-GAAP financial measures presented for future periods, the Company advises that it is unable to provide reconciliations of such measures without unreasonable effort. Accordingly, such measures should be considered in light of the fact that no GAAP measure of performance or liquidity is available as a point of comparison to such non-GAAP measures.
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
06-02-2025
- 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
