ARRAY Technologies otevřela v Albuquerque nový výrobní závod za více než 50 milionů USD. Závod má podpořit asi 300 pracovních míst a rozšířit domácí výrobu solárních technologií.
ALBUQUERQUE, N.M., Sept. 09, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies (NASDAQ: ARRY) (“ARRAY” or the “Company”), a leading global provider of solar tracking technology and fixed-tilt products, foundation and other balance-of-system solutions, software and services, today celebrated the opening of a new $50+ million manufacturing facility in Albuquerque, New Mexico.
The 216,000-square-foot facility, which is roughly three times the size of ARRAY’s prior Albuquerque site, significantly expands the Company’s domestic manufacturing capabilities and will support approximately 300 jobs across production, assembly, design, engineering, customer service and other functions.
Founded and headquartered in Albuquerque for more than 35 years, ARRAY has grown from its New Mexico roots into a global solar technology leader with more than 100 GW of tracker deployments worldwide. The new facility builds on that history, and expands ARRAY’s ability to deliver benefits to customers through greater supply-chain control, shorter delivery times, lower costs, and increased flexibility.
“ARRAY was founded here in Albuquerque, and manufacturing has been at the heart of our company from the beginning,” said Kevin Hostetler, Chief Executive Officer of ARRAY Technologies. “This investment reflects our confidence in the future of ARRAY, our commitment to our customers and our continued belief in American solar manufacturing. By expanding what we can produce here at home, we are strengthening our supply chain, creating skilled career opportunities and building capabilities that will help us serve our customers for years to come.”
ARRAY commemorated the opening with a ribbon-cutting ceremony featuring remarks from U.S. Senator Martin Heinrich, Albuquerque Mayor Tim Keller, Bernalillo County Commissioner Barbara Baca, CEO of the Solar Energy Industries Association (SEIA) Gov. Tim Pawlenty, CEO of American Clean Power Association (ACP) Jason Grumet, employees, customers, suppliers and community partners. Guests toured the facility and saw firsthand the advanced manufacturing processes that will support ARRAY’s growing domestic production capabilities.
“Array Technologies’ new $50 million facility on Albuquerque’s West Side is a testament to the strength of our workforce and New Mexico’s leadership in unlocking our country’s clean energy future,” said Sen. Martin Heinrich, Ranking Member of the U.S. Senate Energy and Natural Resources Committee. “This new facility will employ more than 300 New Mexicans and create high-skilled jobs, from welders to tooling and die technicians. It’s proof that when we invest in American-made energy, we’re not just building the technologies that will power our future — we’re creating good-paying jobs, strengthening local economies, and helping lower electricity costs for families and small businesses. And this is just the beginning.”
“America needs more low-cost, reliable electricity and ARRAY’s proving we can build it with American workers, American manufacturing, and American ingenuity,” said Tim Pawlenty, CEO of the Solar Energy Industries Association (SEIA).
“Bernalillo County is proud to be a reliable, forward-thinking partner for businesses like Array Technologies that invest in our community’s future. Today’s expansion shows what’s possible when we work together to strengthen our local economy and create high-quality jobs,” said Bernalillo County Commissioner Barbara Baca.
Built around lean manufacturing principles and a culture of continuous improvement, the new facility enables ARRAY to bring production in-house for components the Company has historically sourced from outside suppliers. Several components manufactured at the facility qualify for the Section 45X Advanced Manufacturing Production Tax Credit, which supports continued investment in U.S. manufacturing and helps domestically produced components remain cost competitive with imports.
The campus will also expand opportunities for skilled manufacturing careers in Albuquerque, including roles such as stamping press operators, tooling and die technicians, and process engineers.
The facility was supported through a public-private partnership that includes $2.5 million from New Mexico’s Local Economic Development Act (LEDA) job-creation fund, as well as $250,000 each in LEDA funding from the City of Albuquerque and Bernalillo County and partial property-tax abatement through an Industrial Revenue Bond.
The LEED-certified building is designed to support ARRAY’s current manufacturing needs while providing capacity for future growth across the Company’s broader portfolio.
For more information about ARRAY Technologies, visit arraytechinc.com.
About ARRAY Technologies
ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology and fixed-tilt systems to utility-scale and distributed generation customers who construct, develop, and operate solar photovoltaic sites. With solutions engineered to withstand harsh weather conditions, ARRAY’s high-quality solar trackers, fixed-tilt systems, software platforms, foundation and other balance-of-system solutions, 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 www.arraytechinc.com.
Forward-Looking Statement
This press release contains forward-looking statements. These statements are not historical facts but rather are based on the Company's current expectations and projections regarding its business, operations and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward-looking statements. Forward-looking statements include, without limitation, statements regarding the expected number of jobs to be supported by the new Albuquerque manufacturing facility; the anticipated benefits to customers from expanded domestic manufacturing capabilities; the Company's ability to expand in-house production capabilities over time across its broader product portfolio; the eligibility of components manufactured at the facility for the Section 45X Advanced Manufacturing Production Tax Credit and the anticipated benefits of that credit to the competitiveness of the Company's domestically produced components; and the Company's business strategy and growth prospects. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. These risks, uncertainties, and assumptions include, without limitation, the Company's ability to ramp production at the new facility on the anticipated timeline; actual job creation that may differ from current estimates; changes in government policy or incentives supporting domestic manufacturing, including the availability or terms of the Section 45X Advanced Manufacturing Production Tax Credit; volatility in steel and other commodity prices and the availability of components and raw materials; macroeconomic conditions, trade policy changes, or supply chain disruptions affecting the Company's manufacturing operations; and the Company's ability to expand its domestic production capabilities as currently planned. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. 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 other documents on file with the SEC, each of which can be found on our website www.arraytechinc.com. 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.
Photos accompanying this announcement are available at
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TDS stáhla nabídku na odkup zbývajících kmenových akcií Array Digital Infrastructure, které nevlastní, a ponechá si asi 82% podíl. Firma zároveň očekává obnovení zpětného odkupu vlastních akcií.
, /PRNewswire/ -- Telephone and Data Systems, Inc. (NYSE: TDS) (the "Company" or "TDS") today announced that it is no longer pursuing the acquisition of the Common Shares of Array Digital Infrastructure, Inc. (NYSE: AD) ("Array") that it does not already own and has withdrawn its previously announced proposal. Under the terms of the proposal, each Array Common Share not owned by TDS would have been exchanged for 0.86 of a TDS Common Share, subject to the assumptions set forth in the proposal. TDS will continue to hold its approximately 82% ownership interest in Array.
"While we remain confident that the combination presents substantial benefits, we no longer believe that now is the right time to complete such a transaction. Despite extensive review on both sides, we were not able to reach agreement on the form of consideration and value," said Walter Carlson, President and Chief Executive Officer of TDS. "We appreciate the time and effort that the Special Committee of the Board of Directors of Array devoted to this process. We remain confident in Array's business and long-term prospects and are committed to supporting Array's continued success as a leading owner and operator of wireless communications infrastructure. Similarly, we remain confident in the long-term prospects of TDS Telecom as we execute our strategy to expand our marketable fiber service footprint and deliver value for customers and our shareholders."
TDS continues to support Array's previously disclosed intention to opportunistically monetize its remaining wireless spectrum assets. TDS and Array intend in the near term to increase their efforts to pursue opportunities to monetize such assets.
With the withdrawal of the proposal to Array, TDS expects to recommence repurchases of TDS Common Shares under its previously announced share repurchase programs, including the additional $500 million share repurchase authorization announced in November 2025. As of June 30, 2026, approximately $523.9 million remained available under TDS's share repurchase programs. The timing, manner and amount of any repurchases will be determined by TDS in its discretion and will depend on market conditions, applicable legal requirements and other factors.
About TDS
Founded in 1969, Telephone and Data Systems provides broadband services and wireless infrastructure through its businesses, TDS Telecom and Array Digital Infrastructure, Inc.
About Array
Array is a leading owner and operator of shared wireless communications infrastructure in the United States. With over 4,400 cell towers in locations from coast to coast, Array enables the deployment of 5G and other wireless technologies throughout the country. Headquartered in Chicago, Array is approximately 82% owned by TDS.
For more information about TDS and its subsidiaries, visit:
This communication contains forward-looking statements, within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, which reflect TDS' current estimates, expectations and projections about TDS' and Array's future results, performance, prospects and opportunities. Such forward-looking statements may include, among other things, statements regarding TDS' and Array's efforts to monetize Array's remaining spectrum assets, the timing and results of such efforts, TDS' plans to repurchase TDS Common Shares and the timing and amount of any such repurchases, and any other statements regarding TDS' or Array's future operations, anticipated business levels, future earnings, planned activities, anticipated growth, market opportunities, strategies, competition and other expectations and estimates for future periods.
Forward-looking statements include statements that are not historical facts and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "plan," "may," "should," "will," "would," "project," "forecast" and similar expressions. These forward-looking statements are based upon information currently available to TDS and are subject to a number of risks, uncertainties and other factors that could cause TDS' and Array's actual results, performance, prospects, or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. The TDS business is subject to the risks and uncertainties described in TDS' Annual Report on Form 10-K on file with the Securities and Exchange Commission and from time to time in other filed reports, including TDS' Quarterly Reports on Form 10-Q. Shareholders, potential investors and other readers are urged to consider these factors in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements.
The forward-looking statements included in this communication are made only as of the date of this communication, and TDS undertakes no obligation to update any forward-looking information contained in this communication, or with respect to the announcement described herein, to reflect subsequent events or circumstances.
ARRAY Technologies dokončila akvizici Affordable Wire Management, čímž rozšířila nabídku balance-of-system řešení pro solární projekty a bateriová úložiště. Transakce má být v prvním roce před synergiemi alespoň vysoké jednociferné procento akreční pro Adjusted EPS.
ALBUQUERQUE, N.M., Aug. 31, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies (NASDAQ: ARRY) (“ARRAY” or the “Company”), a leading global provider of solar tracking technology and fixed-tilt products, foundation solutions, software systems and services, today announced the successful completion of its acquisition of Affordable Wire Management, LLC (“AWM”), a leading provider of wire management, cable protection, and balance-of-system solutions for utility-scale solar and energy storage projects.
The strategic acquisition broadens ARRAY’s portfolio of complementary balance-of-system solutions, strengthens its ability to serve utility-scale solar and distributed generation customers, and is expected to create new growth opportunities in battery energy storage and datacenter infrastructure.
“This is an important milestone for ARRAY and another step in our strategy to provide customers with a more comprehensive, integrated portfolio of solutions,” said Kevin G. Hostetler, Chief Executive Officer of ARRAY. “AWM brings innovative products, strong engineering capabilities, a reputation for quality and customer service, and an experienced and proven leadership team. Together, we believe we are better positioned to simplify project design and installation, improve system performance, and deliver greater value across solar, storage, and datacenter markets.”
AWM’s products organize, secure, and protect electrical wiring to improve system reliability, safety, installation efficiency, and long-term performance. Its proprietary designs are engineered to provide greater durability, enhanced thermal management, and lower resistive losses than conventional solutions.
“We are incredibly excited for AWM’s future as we officially join ARRAY,” said Scott Rand, Chief Executive Officer and co-founder of AWM. “ARRAY’s scale, customer relationships, and global reach provide a strong platform to accelerate our growth and bring AWM’s solutions to more customers. Our teams share a culture of innovation and a relentless focus on the customer, and we look forward to the opportunities ahead.”
“Combining AWM’s wire management and balance-of-system products with ARRAY’s tracking, fixed-tilt, and foundation platform creates compelling opportunities to deliver integrated solutions engineered to work together,” said Dan Smith, Chief Technology Officer and co-founder of AWM. “We believe this combination will enable us to simplify design, improve installation, and reduce costs for customers.”
The acquisition is expected to be at least high single digit accretive to ARRAY’s Adjusted EPS in the first year before synergies.
For more information about ARRAY Technologies and its industry-leading solar tracking solutions, visit www.arraytechinc.com.
Advisors & Additional Resources
Jefferies LLC acted as exclusive financial advisor, Jones Day acted as legal advisor, and Edelman Smithfield acted as strategic communications advisor to ARRAY. First Liberties Financial acted as exclusive financial advisor, and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as legal advisor to AWM.
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”).
About Affordable Wire Management, LLC
Affordable Wire Management, LLC is a provider of wire management, cable protection, and balance-of-system solutions for the solar and energy storage industries, serving utility-scale and distributed generation customers across North America and select international markets.
About ARRAY Technologies
ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology and fixed-tilt systems to utility-scale and distributed generation customers who construct, develop, and operate solar photovoltaic sites. With solutions engineered to withstand harsh weather conditions, ARRAY’s high-quality solar trackers, fixed-tilt systems, software platforms, foundation solutions, 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 www.arraytechinc.com.
Forward Looking Statement
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,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would,” or similar expressions and the negatives of those terms. These include statements regarding the acquisition of AWM, including the anticipated benefits and synergies, the anticipated impact on the Company’s business and future financial and operating results, and the timing of expected synergies and returns from the transaction. Our actual results and the timing of events could materially differ from those anticipated in such forward-looking statements as a result of risks and uncertainties, including without limitation: the Company’s ability to integrate AWM’s operations successfully and in the expected time period; the Company’s ability to achieve the strategic and other objectives relating to the transaction; risks relating to any unforeseen liabilities of AWM; changes in growth or the rate of growth in demand for solar energy projects; factors outside of our control affecting the variability and demand for solar energy, including but not limited to, the retail price of electricity, availability of in-demand components like high-voltage breakers, various policies related to the permitting and interconnection costs of solar plants, and the availability of incentives for solar energy and solar energy production systems, which makes it difficult to predict our future prospects; competitive pressures within our industry, competition from conventional and renewable energy sources; a loss of one or more of our significant customers, their inability to perform under their contracts, or their default in payment; a drop in the price of electricity derived from the utility grid or from alternative energy sources; fluctuations in our results of operations across fiscal periods, which could make our future performance difficult to predict and could cause our results of operations for a particular period to fall below expectations; any increase in interest rates, or a reduction in the availability of tax equity or project debt capital in the global financial markets, which could make it difficult for customers to finance the cost of a solar energy system and reduce the demand for our products; existing electric utility industry policies and regulations, and any subsequent changes or new related policies and regulations, including as a result of the One Big Beautiful Bill Act, which may present technical, regulatory and economic barriers to the purchase and use of solar energy systems and may significantly reduce demand for our products or harm our ability to compete; the interruption of the flow of materials from international vendors, which could disrupt our supply chain, including as a result of the imposition of new and/or additional duties, tariffs and other charges or restrictions on imports and exports; changes in the global trade environment, including the continuation or imposition of import tariffs or other import restrictions; geopolitical, macroeconomic and other market conditions unrelated to our operating performance including but not limited to a pandemic, the Ukraine-Russia war, attacks on shipping in the Red Sea and Straight of Hormuz, conflict in the Middle East, changing trade policies, and inflation and interest rates; our ability to convert our orders in backlog into revenue; the reduction, elimination or expiration, or our failure to optimize the benefits of government incentives for, or regulations mandating the use of, renewable energy and solar energy, particularly in relation to our competitors, which could reduce demand for solar energy systems; failure to, or incurrence of significant costs in order to, obtain, maintain, protect, defend or enforce, our intellectual property and other proprietary rights; delays in construction projects and any failure to manage our inventory; significant changes in the cost of raw materials; disruptions to transportation and logistics, including increases in shipping costs; defects or performance problems in our products, which could result in loss of customers, reputational damage and decreased revenue; delays, disruptions or quality control problems in our product development operations; our ability to retain our key personnel or failure to attract additional qualified personnel; additional business, financial, regulatory and competitive risks due to our continued planned expansion into new markets; cybersecurity or other data incidents, including unauthorized disclosure of personal or sensitive data or theft of confidential information and the use of artificial intelligence by cyber threat actors; a failure to maintain an effective system of integrated internal controls over financial reporting, which may impair our ability to report our financial results accurately; our substantial indebtedness, risks related to actual or threatened public health epidemics, pandemics, outbreaks or crises; changes to laws and regulations, including changes to tax laws and regulations, that are applied adversely to us or our customers; our ability to successfully integrate AWM into our existing operations, realize the anticipated benefits or synergies of the acquisition, and achieve strategic or other objectives relating to the acquisition; risks related to any unforeseen liabilities of AWM; and other factors listed and described in more detail in the section captioned “Risk Factors” in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and our other documents on file with the U.S. Securities and Exchange Commission, each of which can be found on our website, www.arraytechinc.com.
Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date of this press release. You should read this press release with the understanding that our actual future results may be materially different from what we expect. 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 references certain financial measures that are not presented in accordance with U.S. generally accepted accounting principles, including ARRAY’s Adjusted EPS. We define Adjusted net (loss) income as net (loss) income to common stockholders plus (i) amortization of intangibles, (ii) amortization of developed technology and backlog, (iii) amortization of debt discount and issuance costs, (iv) Series A preferred stock accretion, (v) equity-based compensation, (vi) change in fair value of contingent consideration, (vii) certain legal expenses, (viii) acquisition-related expenses, and (ix) income tax expense adjustments. We define Adjusted net (loss) income per common share as Adjusted net (loss) income divided by the basic and diluted weighted average number of shares outstanding for the applicable period.
ARRAY Technologies dnes hostí dříve oznámenou investorskou prezentaci APA, na níž představí strategii, jak se rozšířit z trackerů do integrované energetické infrastruktury. Firma chce po akvizici APA a chystaném převzetí AWM posílit růst a podíl na projektech.
ARRAY to highlight strategy to expand beyond trackers through technically integrated, interoperable energy infrastructure solutions | Source: Array Technologies, Inc.
ALBUQUERQUE, N.M., Aug. 20, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies (NASDAQ: ARRY) (“ARRAY” or the “Company”), a leading global provider of solar tracking technology and fixed-tilt products, foundation solutions, software systems and services, will host its previously announced APA Investor Technology Showcase today, Thursday, August 20, 2026, beginning at 9:00 a.m. ET.
During the event, CEO Kevin Hostetler and ARRAY’s leadership team, including senior members of APA Solar’s (APA) leadership team will detail the Company’s strategy to evolve from a pure-play tracker company into a more technically integrated energy infrastructure platform. Management will also discuss APA’s progress approximately one year following its acquisition, including its long-term financial profile and growth opportunities.
Key themes of the APA Investor Technology Showcase will include:
Building a more integrated balance-of-system platform: Expanding across foundations, trackers, wire management, controls, software and AI, with technical interoperability and integrated engineering at the center of ARRAY’s strategy.Delivering on the APA investment thesis: Highlighting APA’s progress approximately one year post-acquisition, including integration, commercial momentum, realized synergies and opportunities for continued profitable growth.Expanding addressable market and share of wallet: Extending into critical layers of utility-scale solar infrastructure through APA and following the expected close of the Company’s pending acquisition of Affordable Wire Management (AWM)(1), creating opportunities to earn a greater project share.Responding to complex customer needs through differentiated innovation: Advancing technically integrated solutions that simplify installation, reduce project risk and improve total cost of ownership, anchored by five major product launches in 2026.Executing a disciplined capital allocation strategy: Balancing continued investment in organic growth, while strengthening its capital structure and pursuing disciplined strategic M&A. “ARRAY is evolving beyond trackers into a technically integrated energy infrastructure platform, building on the engineering, innovation and customer partnerships that have long differentiated our business,” said Kevin Hostetler, Chief Executive Officer of ARRAY Technologies. “By bringing together complementary technologies that are engineered to work together, we believe we can deliver greater value to our customers, increase our project share and create additional opportunities for profitable growth. APA is tangible evidence of that strategy in action, and our pending acquisition of AWM represents another important step in expanding our platform. We see significant opportunity to continue building on this model over time.”
Registration for the live webcast is available through the Investor Relations section of the Company's website at investors.arraytechinc.com. The webcast will begin at 9:00 a.m. ET, and an archived replay of the event will be available following its conclusion.
(1) The transaction is expected to close in the third quarter of 2026, subject to receiving any required regulatory approvals and the satisfaction of other customary closing conditions
About ARRAY Technologies
ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology and fixed-tilt systems 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, fixed-tilt systems, software platforms, foundation solutions, and field services combine to optimize 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 arraytechinc.com.
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 information concerning our possible or assumed future results of operations, business strategies, technology or product developments, financing and investment plans, dividend policy, competitive position, industry and regulatory environment, including potential regulatory reform related to energy credits, uncertainty relating to the implementation of tariffs and changes in trade policy, including the reduction or elimination of certain government incentives, ability to provide 100% domestic content trackers, expectations regarding the macroeconomic environment and geopolitical developments, including the effects of tariffs and changes in trade policy, potential growth opportunities and the effects of competition. Forward-looking statements include statements that are not historical facts and can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “seek,” “should,” “will,” “would,” “positioned,” “designed to” or similar expressions and the negatives of those terms.
Our 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: changes in growth or the rate of growth in demand for solar energy projects; factors outside of our control affecting the variability and demand for solar energy, including but not limited to, the retail price of electricity, availability of in-demand components like high-voltage breakers, various policies related to the permitting and interconnection costs of solar plants, and the availability of incentives for solar energy and solar energy production systems, which makes it difficult to predict our future prospects; competitive pressures within our industry; competition from conventional and renewable energy sources; a loss of one or more of our significant customers, their inability to perform under their contracts, or their default in payment; a drop in the price of electricity derived from the utility grid or from alternative energy sources; fluctuations in our results of operations across fiscal periods, which could make our future performance difficult to predict and could cause our results of operations for a particular period to fall below expectations; any increase in interest rates, or a reduction in the availability of tax equity or project debt capital in the global financial markets, which could make it difficult for customers to finance the cost of a solar energy system and reduce the demand for our products; existing electric utility industry policies and regulations, and any subsequent changes or new related policies and regulations, including as a result of the One Big Beautiful Bill Act, which may present technical, regulatory and economic barriers to the purchase and use of solar energy systems and may significantly reduce demand for our products or harm our ability to compete; the interruption of the flow of materials from international vendors, which could disrupt our supply chain, including as a result of the imposition of new and/or additional duties, tariffs and other charges or restrictions on imports and exports; changes in the global trade environment, including the continuation or imposition of import tariffs or other import restrictions; geopolitical, macroeconomic and other market conditions unrelated to our operating performance including but not limited to a pandemic, the Russia-Ukraine war, attacks on shipping in the Red Sea and Strait of Hormuz, conflict in the Middle East (including, but not limited to, the war in Iran), changing trade policies, inflation and interest rates; our ability to convert our orders in backlog into revenue; the reduction, elimination or expiration, or our failure to optimize the benefits of government incentives for, or regulations mandating the use of, renewable energy and solar energy, particularly in relation to our competitors, which could reduce demand for solar energy systems; failure to, or incurrence of significant costs in order to, obtain, maintain, protect, defend or enforce, our intellectual property and other proprietary rights; delays in construction projects and any failure to manage our inventory; significant changes in the cost of raw materials; disruptions to transportation and logistics, including increases in shipping costs; defects or performance problems in our products, which could result in loss of customers, reputational damage and decreased revenue; delays, disruptions or quality control problems in our product development operations; the development, deployment and commercialization of new products, including DuraTrack D2STM, OmniTrack 2.0, the 60 degree variant of DuraTrack, and our ARRAY AtlasTM suite of foundation-to-tracker solutions; our ability to retain our key personnel or failure to attract additional qualified personnel; additional business, financial, regulatory and competitive risks due to our continued planned expansion into new markets; cybersecurity or other data incidents, including unauthorized disclosure of personal or sensitive data or theft of confidential information and the use of artificial intelligence by cyber threat actors; a failure to maintain an effective system of integrated internal controls over financial reporting, which may impair our ability to report our financial results accurately; our substantial indebtedness, risks related to actual or threatened public health epidemics, pandemics, outbreaks or crises; changes to laws and regulations, including changes to tax laws and regulations, that are applied adversely to us or our customers; our ability to complete the acquisition of Affordable Wire Management, LLC (“AWM”) on the anticipated terms and timetable, including the possibility that closing conditions may not be satisfied or waived; our ability to successfully integrate APA Solar, LLC (“APA”) and AWM into our existing operations, realize the anticipated benefits or synergies of the acquisitions of APA and AWM and achieve strategic and other objectives relating to the acquisitions; risks related to any unforeseen liabilities of AWM; and other factors listed and described in more detail in the section captioned “Risk Factors” in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and our other documents on file with the U.S. Securities and Exchange Commission.
Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date of this presentation. You should read this presentation with the understanding that our actual future results may be materially different from what we expect. 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.
Array Digital Infrastructure (AD - Free Report) came out with quarterly earnings of $0.64 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.36 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +3.23%. A quarter ago, it was expected that this wireless telecommunications service provider would post earnings of $5.74 per share when it actually produced earnings of $2.08, delivering a surprise of -63.76%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Array Digital, which belongs to the Zacks Wireless National industry, posted revenues of $54.07 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 3.26%. This compares to year-ago revenues of $916 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Array Digital shares have lost about 33.5% since the beginning of the year versus the S&P 500's gain of 12.6%.
What's Next for Array Digital?While Array Digital has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Array Digital was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #2 (Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.15 on $49.42 million in revenues for the coming quarter and $2.96 on $201.62 million in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Wireless National is currently in the top 45% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the same industry, Ondas Holdings Inc. (ONDS - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 13.
This company is expected to post quarterly loss of $0.07 per share in its upcoming report, which represents a year-over-year change of +12.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Ondas Holdings Inc.'s revenues are expected to be $66.68 million, up 963.5% from the year-ago quarter.
Array zvýšila celoroční výhled tržeb na 205–215 mil. USD a upraveného EBITDA na 220–235 mil. USD. Ve 2. čtvrtletí vzrostly tržby ze site rental meziročně o 95 %.
As previously announced, Array will hold a teleconference on August 7, 2026, at 9:00 a.m. CT. Listen to the call live via the Events & Presentations page of investors.arrayinc.com.
Array Digital Infrastructure, Inc. (NYSE:AD) reported second quarter operating results.
"Array continues to make nice progress executing across our 2026 priorities," said Anthony Carlson, President and CEO. "The organization remains laser-focused on optimizing our tower operations - as evidenced by our sequential tower tenancy growth. And we continue to monetize our remaining spectrum assets as well as support T-Mobile's integration."
Highlights*
Optimizing tower operations Site rental revenues grew 95% year over year Delivered consecutive quarter over quarter tower tenancy growth Continuing to close pending sales of wireless spectrum Closed on sale of certain 700 MHz wireless spectrum licenses for total proceeds of $74.8 million on May 5, 2026 Closed on sale of certain 600 MHz wireless spectrum licenses for total proceeds of $86.4 million on May 12, 2026 Closed on sale of certain cellular and other spectrum licenses for total proceeds of $1 billion on June 1, 2026 Issued special dividend of $11 per common share on June 25, 2026 Updated 2026 Guidance Narrowed Revenue range to $205 million - $215 million on higher interim site revenue Increased Adjusted EBITDA range to $220 million - $235 million Capital expenditures range remains unchanged at $25 million - $35 million * Comparisons are 2Q'25 to 2Q'26 unless otherwise noted.
Array reported total operating revenues from continuing operations of $54.1 million for the second quarter of 2026, versus $28.5 million for the same period one year ago. Net income attributable to Array shareholders and diluted earnings per share from continuing operations were $333.8 million and $3.86, respectively, for the second quarter of 2026 compared to $14.8 million and $0.17, respectively, in the same period one year ago.
Pending transactions
Subsequent to the August 1, 2025 close of the sale of wireless operations, Array reached additional agreements with T-Mobile for the sale of additional spectrum. A significant portion of these closed in May 2026 with approximately $30 million related to 600 MHz and 700 MHz licenses remaining. These additional transactions are expected to close yet in 2026, subject to regulatory approval and customary closing conditions.
DISH Wireless
In September 2025, Array received a letter from DISH Wireless claiming that its obligations under its Master Lease Agreement with Array were excused due to actions taken by the FCC and subsequent agreements to sell spectrum assets. Beginning in the first quarter of 2026, Array no longer recognizes revenue in connection with DISH. In June 2026, DISH Wireless and other DISH entities filed for bankruptcy and Array is monitoring those proceedings.
Recent Development
On May 7, 2026, TDS delivered to the Array Board of Directors a letter setting forth a non-binding proposal to acquire all of the outstanding Array Common Shares that are not owned by TDS (the "Array Proposal"). A special committee of independent and disinterested directors of the Array Board of Directors has been formed to evaluate this proposal. For additional information on the Array Proposal, see TDS' Current Report on Form 8-K, filed with the U.S. Securities and Exchange Commission on May 8, 2026.
2026 Estimated Results
Array's current estimates of full-year 2026 results are shown below. Such estimates represent management's view as of August 7, 2026 and should not be assumed to be current as of any future date. Array undertakes no duty to update such estimates, whether as a result of new information, future events, or otherwise. There can be no assurance that final results will not differ materially from estimated results.
2026 Estimated Results
Previous
Current
(Dollars in millions)
Total operating revenues
$200-$215
$205-$215
Adjusted OIBDA1 (Non-GAAP)
$50-$65
$60-$75
Adjusted EBITDA1 (Non-GAAP)
$200-$215
$220-$235
Capital expenditures
$25-$35
Unchanged
The following table reconciles EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measures, Net income from continuing operations or Income before income taxes. In providing 2026 estimated results, Array has not completed the below reconciliation to Net income because it does not provide guidance for income taxes. Although potentially significant, Array believes that the impact of income taxes cannot be reasonably predicted; therefore, Array is unable to provide such guidance.
Actual Results
2026 Estimated
Results
Six Months Ended
June 30, 2026
Year Ended
December 31, 2025
(Dollars in millions)
Net income from continuing operations (GAAP)
N/A
$517
$172
Add back:
Income tax expense (benefit)
N/A
168
(31)
Income before income taxes (GAAP)
$775-$790
$686
$141
Add back or deduct:
Interest expense
45
18
28
Depreciation, amortization and accretion
50
27
48
EBITDA (Non-GAAP)1
$870-$885
$731
$218
Add back or deduct:
Expenses related to strategic alternatives review
—
8
2
Loss on impairment of licenses
—
—
48
(Gain) loss on asset disposals, net
—
5
2
(Gain) loss on license sales and exchanges, net
(585)
(566)
(6)
Short-term imputed spectrum lease income
(65)
(58)
(69)
Adjusted EBITDA (Non-GAAP)1
$220-$235
$119
$194
Deduct:
Equity in earnings of unconsolidated entities
145
75
174
Interest and dividend income
15
11
19
Adjusted OIBDA (Non-GAAP)1
$60-$75
$33
$1
Numbers may not foot due to rounding.
1
EBITDA, Adjusted EBITDA and Adjusted OIBDA are defined as net income from continuing operations adjusted for the items set forth in the
reconciliation above. EBITDA, Adjusted EBITDA and Adjusted OIBDA are not measures of financial performance under Generally Accepted
Accounting Principles in the United States (GAAP) and should not be considered as alternatives to Net income or Cash flows from operating
activities, as indicators of cash flows or as measures of liquidity. Array does not intend to imply that any such items set forth in the reconciliation
above are infrequent or unusual; such items may occur in the future. Management uses Adjusted EBITDA and Adjusted OIBDA as
measurements of profitability, and therefore reconciliations to Net income are deemed appropriate. Management believes Adjusted EBITDA and
Adjusted OIBDA are useful measures of Array's operating results before significant recurring non-cash charges, nonrecurring expenses, gains
and losses, and other items as presented above as they provide additional relevant and useful information to investors and other users of Array's
financial data in evaluating the effectiveness of its operations and underlying business trends in a manner that is consistent with management's
evaluation of business performance. Adjusted EBITDA shows adjusted earnings before interest, taxes, depreciation, amortization and accretion,
gains and losses while Adjusted OIBDA reduces this measure further to exclude Equity in earnings of unconsolidated entities and Interest and
dividend income in order to more effectively show the performance of operating activities excluding investment activities.
Conference Call Information
Array will hold a conference call on August 7, 2026 at 9:00 a.m. CT.
Access the live call on the Events & Presentations page of investors.arrayinc.com or at https://events.q4inc.com/attendee/198119429 Before the call, certain financial and statistical information to be discussed during the call will be posted to investors.arrayinc.com. The call will be archived on the Events & Presentations page of investors.arrayinc.com.
About Array
Array Digital Infrastructure, Inc. is a leading owner and operator of shared wireless communications infrastructure in the United States. Array owns 4,456 cell towers in 19 states and enables the deployment of 5G and other wireless technologies throughout the country. As of June 30, 2026, Telephone and Data Systems, Inc. owned approximately 81.9% of Array.
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: All information set forth in this news release, except historical and factual information, represents forward-looking statements. This includes all statements about the company's plans, beliefs, estimates, and expectations. These statements are based on current estimates, projections, and assumptions, which involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Important factors that may affect these forward-looking statements include, but are not limited to: whether any transaction related to the TDS non-binding proposal delivered to the Array Board of Directors to acquire all of the outstanding Array Common Shares not owned by TDS will be accepted, rejected, consummated, or abandoned; whether any such transaction, if accepted or completed, will result in additional value for Array or its shareholders and whether the process could result in adverse impacts on Array's businesses; the manner in which Array's remaining business is conducted; strategic decisions regarding the tower business; whether the additional spectrum license sales to T-Mobile are consummated; whether Array can monetize its remaining spectrum assets; competition in the tower industry; economic and business risks associated with fixed rate annual escalators on colocation revenue contracts; Array's reliance on a small number of tenants for a substantial portion of its revenue; the ability to attract people of outstanding talent; inability to protect rights to the land under towers; changes in demand, consumer preferences and perceptions, price competition, or cost; advances or changes in technology; impacts of costs, integration issues or other factors associated with acquisitions, divestitures or exchanges of properties; uncertainties in Array's future cash flows and liquidity and access to the capital markets; the ability to make payments on indebtedness or comply with the terms of debt covenants; conditions in the U.S. telecommunications industry; the value of assets and investments, including significant investments in wireless operating entities that Array does not control; pending and future litigation; cyber-attacks or other breaches of network or information technology security; control by TDS; disruption in credit or other financial markets; deterioration of U.S. or global economic conditions; and extreme weather events. Investors are encouraged to consider these and other risks and uncertainties that are more fully described under "Risk Factors" in the most recent filing of Array's Form 10-K as updated by any Form 10-Q filed subsequent to such Form 10-K.
Array Digital Infrastructure, Inc.
Summary Operating Data (Unaudited)
As of or for the Quarter Ended
6/30/2026
3/31/2026
12/31/2025
9/30/2025
Capital expenditures from continuing operations (thousands)
$ 3,895
8,645
12,933
7,927
Owned towers
4,456
4,452
4,450
4,449
Number of colocations1
4,362
4,290
4,572
4,517
Tower tenancy rate2
0.98
0.96
1.03
1.02
1
Represents instances where a third-party leases space on a company-owned tower. Includes T-Mobile MLA committed site minimum of 2,015.
Excludes Interim Sites whereby T-Mobile is leasing up to 1,800 sites for a period of up to 30 months subject to the terms and conditions of the
MLA. As of March 31, 2026, the Number of colocations and the Tower tenancy rate exclude DISH Wireless due to the low probability of
fulfilling its lease commitments.
2
Calculated as total number of colocations divided by total number of towers. Includes T-Mobile MLA committed site minimum of 2,015. Excludes Interim Sites whereby T-Mobile is leasing up to 1,800 sites for a period of up to 30 months subject to the terms and conditions of the MLA. As of March 31, 2026, the Number of colocations and the Tower tenancy rate exclude DISH Wireless due to the low probability of fulfilling its lease commitments. Normalized to exclude DISH, tenancy ratios would have been 0.95 and 0.94 for December 31, 2025 and September 30, 2025, respectively.
Array Digital Infrastructure, Inc.
Consolidated Statement of Operations Highlights
(Unaudited)
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
vs. 2025
2026
2025
2026
vs. 2025
(Dollars and shares in thousands, except per share amounts)
Operating revenues
Site rental
$
53,175
$
27,230
95 %
$
104,199
$
53,825
94 %
Services
895
1,299
(31) %
1,883
1,688
12 %
Total operating revenues
54,070
28,529
90 %
106,082
55,513
91 %
Operating expenses
Cost of operations (excluding Depreciation, amortization and accretion reported below)
23,497
19,396
21 %
45,106
35,687
26 %
Selling, general and administrative
22,906
19,337
18 %
35,651
48,537
(27) %
Depreciation, amortization and accretion
14,428
11,999
20 %
27,032
23,992
13 %
(Gain) loss on asset disposals, net
3,809
(313)
N/M
4,713
(87)
N/M
(Gain) loss on license sales and exchanges, net
(409,833)
(3,700)
N/M
(566,468)
(4,800)
N/M
Total operating expenses
(345,193)
46,719
N/M
(453,966)
103,329
N/M
Operating income (loss)
399,263
(18,190)
N/M
560,048
(47,816)
N/M
Other income (expense)
Equity in earnings of unconsolidated entities
34,726
41,714
(17) %
75,135
77,641
(3) %
Interest and dividend income
6,431
3,701
74 %
10,653
6,358
68 %
Interest expense
(10,860)
(3,711)
N/M
(18,040)
(7,378)
N/M
Short-term imputed spectrum lease income
23,770
—
N/M
57,970
—
N/M
Other, net
(13)
—
N/M
(26)
—
N/M
Total other income
54,054
41,704
30 %
125,692
76,621
64 %
Income before income taxes
453,317
23,514
N/M
685,740
28,805
N/M
Income tax expense
115,870
8,415
N/M
168,268
8,222
N/M
Net income from continuing operations
337,447
15,099
N/M
517,472
20,583
N/M
Less: Net income from continuing operations attributable to noncontrolling interests, net of tax
3,677
326
N/M
3,870
1,127
N/M
Net income from continuing operations attributable to Array shareholders
333,770
14,773
N/M
513,602
19,456
N/M
Net income from discontinued operations
25,114
17,098
47 %
23,077
31,300
(26) %
Less: Net income from discontinued operations attributable to noncontrolling interests, net of tax
188
375
(50) %
188
1,013
(81) %
Net income from discontinued operations attributable to Array shareholders
24,926
16,723
49 %
22,889
30,287
(24) %
Net income
362,561
32,197
N/M
540,549
51,883
N/M
Less: Net income attributable to noncontrolling interests, net of tax
3,865
701
N/M
4,058
2,140
90 %
Net income attributable to Array shareholders
$ 358,696
$ 31,496
N/M
$ 536,491
$ 49,743
N/M
Basic weighted average shares outstanding
86,482
85,779
1 %
86,449
85,459
1 %
Basic earnings per share from continuing operations attributable to Array shareholders
$ 3.86
$ 0.17
N/M
$ 5.94
$ 0.23
N/M
Basic earnings per share from discontinued operations attributable to Array shareholders
$ 0.29
$ 0.20
48 %
$ 0.27
$ 0.35
(25) %
Basic earnings per share attributable to Array shareholders
$ 4.15
$ 0.37
N/M
$ 6.21
$ 0.58
N/M
Diluted weighted average shares outstanding
86,510
87,784
(1) %
86,499
87,947
(2) %
Diluted earnings per share from continuing operations attributable to Array shareholders
$ 3.86
$ 0.17
N/M
$ 5.94
$ 0.22
N/M
Diluted earnings per share from discontinued operations attributable to Array shareholders
$ 0.29
$ 0.19
51 %
$ 0.26
$ 0.35
(23) %
Diluted earnings per share attributable to Array shareholders
$ 4.15
$ 0.36
N/M
$ 6.20
$ 0.57
N/M
N/M - Percentage change not meaningful
Array Digital Infrastructure, Inc.
Consolidated Statement of Cash Flows
(Unaudited)
Six Months Ended
June 30,
2026
2025
(Dollars in thousands)
Cash flows from operating activities
Net income
$ 540,549
$ 51,883
Net income from discontinued operations
23,077
31,300
Net income from continuing operations
517,472
20,583
Add (deduct) adjustments to reconcile net income to net cash flows from operating activities
Depreciation, amortization and accretion
27,032
23,992
Bad debts expense
196
415
Stock-based compensation expense
540
1,694
Deferred income taxes, net
(203,326)
(1,050)
Equity in earnings of unconsolidated entities
(75,135)
(77,641)
Distributions from unconsolidated entities
66,553
87,938
(Gain) loss on asset disposals, net
4,713
(87)
(Gain) loss on license sales and exchanges, net
(566,468)
(4,800)
Other operating activities
225
67
Changes in assets and liabilities from operations
Accounts receivable
4,367
(10,279)
Accounts payable
(3,431)
(2,254)
Customer deposits and deferred revenues
(56,735)
194
Accrued taxes
288,663
(11,980)
Accrued interest
(390)
(8)
Other assets and liabilities
(17,473)
(26,864)
Net cash used in operating activities - continuing operations
(13,197)
(80)
Net cash provided by (used in) operating activities - discontinued operations
(5,791)
484,669
Net cash provided by (used in) operating activities
(18,988)
484,589
Cash flows from investing activities
Cash paid for additions to property, plant and equipment
(19,629)
(11,463)
Cash paid for licenses
—
(4,145)
Cash received from divestitures
2,185,801
—
Other investing activities
—
1,301
Net cash provided by (used in) investing activities - continuing operations
2,166,172
(14,307)
Net cash used in investing activities - discontinued operations
—
(135,561)
Net cash provided by (used in) investing activities
2,166,172
(149,868)
Cash flows from financing activities
Repayment of long-term debt
—
(12,000)
Tax withholdings, net of cash receipts, for stock-based compensation awards
(2,068)
(35,250)
Repurchase of Common Shares
—
(21,360)
Dividends paid to Array shareholders
(1,836,737)
—
Payment of debt issuance costs
—
(1,676)
Distributions to noncontrolling interests
(4,750)
(2,391)
Payments to acquire additional interest in subsidiaries
(593)
—
Other financing activities
—
(589)
Net cash used in financing activities - continuing operations
(1,844,148)
(73,266)
Net cash used in financing activities - discontinued operations
—
(19,703)
Net cash used in financing activities
(1,844,148)
(92,969)
Net increase in cash, cash equivalents and restricted cash
303,036
241,752
Cash, cash equivalents and restricted cash
Beginning of period
113,400
159,142
End of period
$ 416,436
$ 400,894
Array Digital Infrastructure, Inc.
Consolidated Balance Sheet Highlights
(Unaudited)
ASSETS
June 30, 2026
December 31, 2025
(Dollars in thousands)
Current assets
Cash and cash equivalents
$ 416,436
$ 113,400
Accounts receivable, net
17,831
21,656
Prepaid expenses
2,045
3,216
Other current assets
2,434
6,515
Total current assets
438,746
144,787
Non-current assets held for sale
47,390
1,591,675
Licenses
1,594,649
1,642,187
Investments in unconsolidated entities
421,607
412,608
Property, plant and equipment, net
374,700
388,999
Operating lease right-of-use assets
467,590
472,995
Other assets and deferred charges
26,677
24,837
Total assets
$ 3,371,359
$ 4,678,088
Array Digital Infrastructure, Inc.
Consolidated Balance Sheet Highlights
(Unaudited)
LIABILITIES AND EQUITY
June 30, 2026
December 31, 2025
(Dollars in thousands, except per share amounts)
Current liabilities
Current portion of long-term debt
$ 8,125
$ 4,063
Accounts payable
41,041
38,395
Customer deposits and deferred revenues
27,515
85,945
Accrued taxes
317,407
16,884
Accrued compensation
1,070
4,322
Short-term operating lease liabilities
16,767
15,294
Current liabilities of discontinued operations
24,856
20,242
Other current liabilities
24,875
14,843
Total current liabilities
461,656
199,988
Deferred liabilities and credits
Deferred income tax liability, net
169,509
387,030
Long-term operating lease liabilities
505,936
509,876
Other deferred liabilities and credits
295,715
336,379
Long-term debt, net
666,757
670,258
Total equity
1,271,786
2,574,557
Total liabilities and equity
$ 3,371,359
$ 4,678,088
Array Digital Infrastructure, Inc.
EBITDA, Adjusted EBITDA, Adjusted OIBDA and AFCF Reconciliations
(Unaudited)
EBITDA, Adjusted EBITDA and Adjusted OIBDA
The following table reconciles EBITDA, Adjusted EBITDA and Adjusted OIBDA to the corresponding GAAP measure, Net income from continuing operations and Income before income taxes.
Three Months Ended
June 30,
Six Months Ended
June 30,
2026
2025
2026
2025
(Dollars in thousands)
Net income from continuing operations (GAAP)
$ 337,447
$ 15,099
$ 517,472
$ 20,583
Add back:
Income tax expense
115,870
8,415
168,268
8,222
Income before income taxes (GAAP)
453,317
23,514
685,740
28,805
Add back:
Interest expense
10,860
3,711
18,040
7,378
Depreciation, amortization and accretion
14,428
11,999
27,032
23,992
EBITDA (Non-GAAP)
478,605
39,224
730,812
60,175
Add back or deduct:
Expenses related to strategic alternatives review
7,391
715
7,578
1,860
(Gain) loss on asset disposals, net
3,809
(313)
4,713
(87)
(Gain) loss on license sales and exchanges, net
(409,833)
(3,700)
(566,468)
(4,800)
Short-term imputed spectrum lease income
(23,770)
—
(57,970)
—
Adjusted EBITDA (Non-GAAP)
56,202
35,926
118,665
57,148
Deduct:
Equity in earnings of unconsolidated entities
34,726
41,714
75,135
77,641
Interest and dividend income
6,431
3,701
10,653
6,358
Other, net
(13)
—
(26)
—
Adjusted OIBDA (Non-GAAP)
$ 15,058
$ (9,489)
$ 32,903
$ (26,851)
Adjusted Free Cash Flow (AFCF)
AFCF is a non-GAAP measure defined as Net income from continuing operations adjusted for the items set forth in the reconciliation below. AFCF is not a measure of financial performance under GAAP and should not be considered as an alternative to Net income from continuing operations or as an indicator of cash flows.
Management believes AFCF is a useful measure of Array's cash generated from operations and its noncontrolling investment interests. The following table reconciles AFCF to the corresponding GAAP measure, Net income from continuing operations. This measure is presented following the sale of Array's wireless operations to T-Mobile on August 1, 2025, at which time the primary business operations for Array changed from providing wireless communications services to a standalone tower company.
Six Months Ended
June 30, 2026
(Dollars in thousands)
Net income from continuing operations (GAAP)
$ 517,472
Add back or deduct:
Income tax expense
168,268
Cash paid for income taxes
(78,623)
Stock-based compensation expense
540
Short-term imputed spectrum lease income
(57,970)
Amortization of deferred debt charges
655
Equity in earnings of unconsolidated entities
(75,135)
Distributions from unconsolidated entities
66,553
(Gain) loss on license sales and exchanges, net
(566,468)
(Gain) loss on asset disposals, net
4,713
Depreciation, amortization and accretion
27,032
Expenses related to strategic alternatives review
7,578
Straight line and other non-cash revenue adjustments
(8,310)
Straight line expense adjustment
2,811
Maintenance and other capital expenditures
(2,511)
Adjusted Free Cash Flow from continuing operations (Non-GAAP)
Array Technologies, Inc. (ARRY - Free Report) came out with quarterly earnings of $0.24 per share, beating the Zacks Consensus Estimate of $0.11 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of +118.18%. A quarter ago, it was expected that this company would post a loss of $0.06 per share when it actually produced earnings of $0.06, delivering a surprise of +200%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Array Technologies, which belongs to the Zacks Solar industry, posted revenues of $342.07 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 5.63%. This compares to year-ago revenues of $362.24 million. The company has topped consensus revenue estimates four times over the last four quarters.
The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.
Array Technologies shares have lost about 34.8% since the beginning of the year versus the S&P 500's gain of 13%.
What's Next for Array Technologies?While Array Technologies has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for Array Technologies was favorable. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #1 (Strong Buy) for the stock. So, the shares are expected to outperform the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.28 on $460.4 million in revenues for the coming quarter and $0.73 on $1.45 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Solar is currently in the top 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
One other stock from the broader Zacks Oils-Energy sector, Canadian Natural Resources (CNQ - Free Report) , is yet to report results for the quarter ended June 2026. The results are expected to be released on August 6.
This oil and natural gas company is expected to post quarterly earnings of $1.43 per share in its upcoming report, which represents a year-over-year change of +180.4%. The consensus EPS estimate for the quarter has been revised 14.4% lower over the last 30 days to the current level.
Canadian Natural Resources' revenues are expected to be $9.25 billion, up 47.2% from the year-ago quarter.
ARRAY Technologies představila Atlas™, novou sadu řešení foundation-to-tracker určenou výhradně pro trackery ARRAY a základy APA. Firma uvádí lepší flexibilitu instalace, odolnost dodavatelského řetězce a nižší počet komponent.
ALBUQUERQUE, N.M., July 29, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies, Inc. (NASDAQ: ARRY) (“ARRAY” or the “Company”), a New Mexico-based leading global provider of tracking technology and fixed-tilt products, foundation solutions, software systems and services, today announced an expansion of its product portfolio with launch of ARRAY Atlas™, a new suite of foundation-to-tracker solutions designed exclusively for ARRAY trackers and APA foundations to enhance their technical interoperability.
Across standard and challenging sites alike, the interface between foundation and tracker has historically been fragmented, hardware-heavy, and never engineered as an integrated part of the tracker system. This includes traditional steel W-beams, the current standard for most utility-scale solar piles and foundation-to-tracker interfaces, which can create unnecessary cost and execution challenges through volatile commodity pricing, limited sourcing flexibility, and installation complexity.
Designed from the ground up, the Atlas suite reimagines the connection between APA foundation and ARRAY tracker, giving customers greater installation flexibility, procurement resilience, wire management readiness, and project certainty across virtually any soil condition.
As an engineered alternative to existing foundation approaches, Atlas provides a cost competitive and optimized solution to service the tracker foundation market, which exceeds $1B annually1.
"For decades, developers have relied on commodity steel piles that were never engineered as part of the tracker system," said Josh Von Deylen, Chief Executive Officer of APA Solar, an ARRAY company. "Atlas changes that by bringing the foundation and tracker interface together in a purpose-built solution that helps customers install faster, source more efficiently, and execute projects with greater confidence."
ARRAY Atlas I (left) and Atlas II (right), a new suite of foundation-to-tracker solutions designed exclusively for ARRAY trackers and APA foundations
Atlas is available in two configurations built around a common engineered bearing housing platform to enable customers to pair the right foundation solution for their site while maintaining a consistent tracker interface above grade:
Atlas I is designed for standard soil conditions, connecting driven foundations (a shortened W-beam or sigma pile) to the tracker through an adjustable rolled steel C-channel and bearing interface, which offers customers:
Greater design and field flexibility to correct minor driving variation in height through vertical C-channel adjustmentImproved procurement resiliency by reducing or eliminating steel beam in favor of roll-formed steel componentsReduced deformation risk by shortening the driven foundation and separating it from the tracker interface Atlas II is designed for challenging soil conditions, connecting engineered foundations (helical piles or ground screws) with a dual-leg interface and bearing interface, which offers customers:
Better installation efficiency through an integrated design with fewer connection points and a 70% reduction in component count compared to APA A-Frame®Enhanced adaptability for design and on-site conditions, including improved vertical and East/West adjustability, supporting sites with varied topography As utility-scale solar projects continue to scale in size while labor availability, procurement complexity, and schedule pressures increase, developers are looking for integrated solutions that simplify construction and reduce execution risk.
The launch of Atlas represents another milestone following ARRAY's acquisition of APA Solar, a premier solar racking and foundations solutions provider, in 2025. By combining ARRAY's leadership in solar tracking with APA's expertise in foundation engineering, the companies are accelerating the development of integrated solutions that simplify project execution from the ground up.
For more information or to discuss project inquiries, please contact the APA sales team at [email protected] or 419-267-5280.
For more information on ARRAY Atlas, visit https://arraytechinc.com/products/atlas
(1) Based on Wood Mackenzie Global Solar Tracker Landscape H1 2026 Report and company estimates
About ARRAY Technologies
ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology and fixed-tilt systems to utility-scale and distributed generation customers who construct, develop, and operate solar photovoltaic sites. With solutions engineered to withstand harsh weather conditions, ARRAY’s high-quality solar trackers, fixed-tilt systems, software platforms, foundation solutions, 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 www.arraytechinc.com.
Forward Looking Statement
This press release contains forward-looking statements. These statements are not historical facts but rather are based on the Company's current expectations and projections regarding its business, operations and other factors relating thereto. Words such as "may," "will," "could," "would," "should," "anticipate," "predict," "potential," "continue," "expects," "intends," "plans," "projects," "believes," "estimates" and similar expressions are used to identify these forward-looking statements. Forward-looking statements include, without limitation, statements regarding the expected performance, availability, pricing, and market adoption of ARRAY Atlas™ and the Company's other recently launched products; the anticipated benefits of the Atlas suite to customers, including installation speed and efficiency, procurement resilience and sourcing flexibility, design and field adjustability, reduced component counts, and reduced execution risk; the Company's estimates regarding the size of its total addressable market and the anticipated expansion of that market through foundation-to-tracker solutions; the anticipated benefits of the Company's acquisition of APA Solar, including the integration of ARRAY's tracking technology with APA Solar's foundation engineering capabilities and the development of additional integrated solutions; the Company's ability to continue to grow its global installed base and expand into new markets; the Company's expectations regarding continued demand for solar energy and utility-scale solar deployment, including trends in project scale, labor availability, procurement complexity, and construction schedules; and the Company's business strategy and growth prospects. These statements are only predictions and as such are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. These risks, uncertainties, and assumptions include, without limitation, changes in demand for utility-scale solar projects domestically and internationally; customer acceptance and rate of adoption of new products, including Atlas; delays in product availability or shipment; actual field, installation, and cost performance of the Company's products that may differ from modeled or anticipated results, including in varied soil and site conditions; the Company's ability to realize the anticipated benefits of the APA Solar acquisition on the expected timeline or at all; the accuracy of the Company's estimates regarding its total addressable market; volatility in steel and other commodity prices and the availability of components and raw materials; macroeconomic conditions, trade policy changes, or supply chain disruptions affecting operations; changes in government policy or incentives supporting solar energy deployment; and reliance on third-party partners to perform their respective roles on schedule and to specification. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. 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 other documents on file with the SEC, each of which can be found on our website www.arraytechinc.com. 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
ARRAY Technologies představila novou 60° variantu trackeru DuraTrack, která má snižovat riziko krupobití a kapitálové náklady. K dispozici k nabídce bude v roce 2026, dodávky se očekávají v polovině roku 2027.
ALBUQUERQUE, N.M., July 22, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies (NASDAQ:ARRY) (“ARRAY” or the “Company”), a leading global provider of solar tracking technology and fixed-tilt products, foundation solutions, software systems and services, today announced a new 60-degree variant of its trusted ARRAY DuraTrack® platform. Designed to effectively mitigate hail risk while reducing capital expenditures, the new solar tracker builds on the exceptional hail alert response and patented passive wind stow reliability of the DuraTrack platform and further strengthens the breadth of ARRAY's portfolio of tracker solutions.
As developers and insurers seek practical ways to balance project economics with extreme weather resilience, demand is growing for tracking solutions that effectively mitigate hail risk without significantly increasing capital costs. ARRAY is addressing this need with the 60-degree DuraTrack variant, developed with input and feedback from customers and insurance stakeholders.
Combining a 60-degree stow angle with ARRAY SmarTrack® software suite, including Hail Alert Response technology, this system delivers an effective balance of cost, risk mitigation, and performance for projects in moderate hail risk regions. The 60-degree variant also carries forward the wired AC motor and wired communications architecture which dramatically differentiates the reliability of the DuraTrack product line and provides maximum dependability when hail approaches compared to systems relying on batteries and wireless communications. The new 60-degree variant also includes ARRAY Wind XP™ patented passive wind stow technology which minimizes unnecessary stow and sensor failure risk through ARRAY’s trusted mechanical stow solution.
This announcement comes as insurance leaders from 25+ companies convene for ARRAY’s third annual Insurance Forum in Boston, Massachusetts, which delves into ARRAY’s capabilities for mitigating the effects of severe weather and the tracker industry's essential role in reducing risk in the solar market.
“ARRAY is proud to offer trusted technology that mitigates the realities of severe weather demands while maximizing energy generating potential," said Nick Strevel, Chief Product Officer at ARRAY. “Adding a 60-degree tracker expands our existing portfolio to give our customers more options for resilient and reliable solutions in hail-prone regions, including Texas and the Great Plains.
Key Features and Availability
Leading Hail Resiliency: Designed to mitigate hail risk effectively, including through its compatibility with ARRAY’s Hail Alert Response software with 99%+ reliable stow execution rate.Lower Capital Expenditure: Reduces tracker and foundation costs compared to higher-angle trackers.Increased Reliability: Delivers more dependable stow behavior in adverse conditions through an AC grid-powered motor and wired communications compared to systems relying on battery power and wireless communications, which can be disrupted by extreme weather.Fewer Energy Losses: Reduces production losses by protecting only the rows that need it via ARRAY’s patented and DNV-validated WindXP passive stow technology, shown to offer an energy yield benefit of up to 4%Availability: Available to quote in 2026, with deliveries expected in mid-2027. About ARRAY Technologies
ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology and fixed-tilt systems to utility-scale and distributed generation customers who construct, develop, and operate solar photovoltaic sites. With solutions engineered to withstand harsh weather conditions, ARRAY’s high-quality solar trackers, fixed-tilt systems, software platforms, foundation solutions, 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 www.arraytechinc.com.
Forward Looking Statements
This press release contains forward-looking statements. These statements are not historical facts but rather are based on the Company's current expectations and projections regarding its business, operations and other factors relating thereto. Words such as “may,” “will,” “could,” “would, “should,” “anticipate,” “designed,” “predict,” “potential,” “continue,” “expects,” “intends,” “plans,” “projects,” “believes,” “estimates” and similar expressions are used to identify these forward-looking statements. Forward-looking statements include, without limitation, statements regarding the expected performance and market adoption of the Company's recently launched products including the anticipated hail-mitigation effectiveness, cost and capital expenditure benefits, reliability advantages, and quoting and delivery timelines of the 60-degree DuraTrack variant; and the anticipated adoption of hail-mitigation technologies by insurers and other industry stakeholders. These statements are only predictions, and as such are not guarantees of future performance, and involve risks, uncertainties and assumptions that are difficult to predict. These risks, uncertainties, and assumptions include, without limitation: changes in demand for utility-scale solar projects domestically and internationally; delays in product availability or shipment including any delays affecting the anticipated quoting availability or delivery timeline for the 60-degree DuraTrack variant; actual field performance of the Company's products, including, without limitation the ability of the 60-degree DuraTrack to mitigate hail risk and to deliver stow behaviors that may differ from modeled or anticipated results, including with respect to hail resiliency, cost reduction, or reliability compared to DC battery-powered stow systems; macroeconomic conditions, trade policy changes, or supply chain disruptions affecting operations; changes in government policy or incentives supporting solar energy deployment; changes in insurer underwriting practices or the availability of financing tied to hail-mitigation performance; and reliance on third-party partners to perform their respective roles on schedule and to specification. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors. 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 other documents on file with the SEC, each of which can be found on our website www.arraytechinc.com. 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.
ARRAY Technologies se dohodla na koupi Affordable Wire Management za zhruba 203 milionů USD. Akvizice má v prvním roce před synergiemi zvýšit upravený EPS o vyšší jednotky procent.
Strategic acquisition adds high-margin cable management products and extends ARRAY’s reach across utility-scale solar, distributed generation, BESS, and datacenter applications July 16, 2026 16:30 ET | Source: Array Technologies, Inc.
Adds a highly complementary, accretive balance-of-system product portfolio spanning solar wire management, cable protection solutions, and battery energy storage solutions (BESS)Creates new growth opportunities in fast-growing adjacencies including BESS and datacenter infrastructureTotal Consideration of approximately $203 million represents an attractive multiple of 8.8x AWM's trailing twelve-month EBITDAExpected to be high single digit accretive to ARRAY's Adjusted EPS in year one before synergiesClosing expected in the third quarter of 2026, subject to regulatory clearance and customary closing conditions ALBUQUERQUE, N.M., July 16, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies, Inc. (NASDAQ: ARRY) (“ARRAY” or the “Company”), a leading global provider of solar tracking technology and fixed-tilt products, foundation solutions, software systems and services, today announced it has entered into a definitive agreement to acquire Affordable Wire Management, LLC ("AWM"), a leading provider of wire management, cable protection, and balance-of-system solutions for utility-scale solar and energy storage projects. The acquisition further expands ARRAY’s portfolio of solutions for utility-scale solar customers while creating new growth opportunities in battery energy storage and datacenter markets.
AWM’s products organize, secure, and protect electrical wiring to improve system reliability, safety, installation efficiency, and long-term performance. The company has developed proprietary designs that offer greater durability, enhanced thermal management, and lower resistive losses than conventional solutions. With nearly $60 million trailing twelve months revenue, AWM has built a track record of profitable growth, based on a capital-light operating model and a culture of innovation. The acquisition of AWM is expected to be high single digit accretive to ARRAY’s Adjusted EPS in year one before synergies.
"The acquisition of AWM will further broaden our balance-of-system portfolio and deepen our relevance to our customers as well as create new growth vectors for us in the BESS and datacenter markets," said Kevin G. Hostetler, Chief Executive Officer of ARRAY. “AWM brings a proven, innovative product line and a strong reputation for quality and customer service. Together, we will be able to offer a more complete, integrated solution to our customers across the solar, battery storage, and datacenter markets."
"Becoming part of ARRAY is a tremendous opportunity for our team and our customers," said Scott Rand, Chief Executive Officer and Co-Founder of AWM. "ARRAY’s scale, customer relationships, and global reach will make this the ideal home for our team and our products. We share a culture of innovation and a relentless focus on the customer, and that alignment will unlock real value for customers across solar, storage, and beyond.”
“Differentiating through engineering has always been at the core of how we design our products,” said Dan Smith, Chief Technology Officer and Co-Founder of AWM. “By bringing our wire management and balance-of-system products together with ARRAY’s tracking, fixed-tilt, and foundation platform, we can deliver various integrated solutions engineered to work together – simplifying design, improving installation, and reducing costs for our customers."
Following the closing of the acquisition, AWM’s financial results will be included in the ARRAY Legacy segment. AWM's senior management team is expected to remain with the business following the closing.
Transaction Terms
The total consideration of AWM is $203 million, together representing a multiple of approximately 8.8x AWM’s trailing twelve-month EBITDA. The total consideration consists of a base purchase price of AWM of $153 million and total additional consideration of up to $50 million. The final amount of upfront cash consideration will be determined at closing subject to customary purchase price adjustments. The additional consideration of up to $50 million is comprised of $10 million payable in two equal installments on the first and second anniversary of the closing, each conditioned on the continued employment of the sellers and a performance based earnout of up to $40 million payable in three installments of up to $8 million based on 2026 performance and up to $16 million for each 2027 and 2028 performance years based on AWM’s achievement of certain EBITDA targets during the applicable period. Both components of the earnout may be paid in cash or ARRAY common stock at ARRAY’s option.
Transaction Approvals and Closing Conditions
The transaction is expected to close in the third quarter of 2026, subject to receiving any required regulatory approvals and the satisfaction of other customary closing conditions. Jefferies LLC acted as exclusive financial advisor and Jones Day acted as legal advisor to ARRAY. Edelman Smithfield acted as strategic communications advisor to ARRAY. First Liberties Financial acted as exclusive financial advisor and Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. acted as legal advisor to AWM.
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 6:00 p.m. EDT to discuss the transaction. A live webcast will be available on the investor relations section of ARRAY's website at ir.arraytechinc.com. A replay will be available 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 Affordable Wire Management, LLC
Affordable Wire Management, LLC is a provider of wire management, cable protection, and balance-of-system solutions for the solar and energy storage industries, serving utility-scale and distributed generation customers across North America and select international markets.
About ARRAY Technologies, Inc.
ARRAY Technologies (NASDAQ: ARRY) is a leading global provider of solar tracking technology and fixed-tilt systems 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, fixed-tilt systems, software platforms, foundation solutions, and field services combine to optimize 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 arraytechinc.com.
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," "intend," "may," "plan," "potential," "predict," "project," "seek," "should," "will," "would," or similar expressions and the negatives of those terms. These include statements regarding the proposed acquisition of AWM, including the anticipated benefits and synergies, the anticipated impact on the Company's business and future financial and operating results, the expected timing and closing of the transaction, including the expected closing date of the transaction and the timing of expected synergies and returns from the transaction, the expectation that AWM’s senior management will remain with the business following the closing of the 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. Our actual results and the timing of events could materially differ from those anticipated in such forward-looking statements as a result of risks and uncertainties, including without limitation: the ability to complete the transaction on anticipated terms and timetable; the Company's ability to integrate AWM's operations successfully and in the expected time period; the Company’s ability to achieve the strategic and other objectives relating to the transaction; the possibility that closing conditions may not be satisfied or waived; risks relating to any unforeseen liabilities of AWM; changes in growth or the rate of growth in demand for solar energy projects; factors outside of our control affecting the variability and demand for solar energy, including but not limited to, the retail price of electricity, availability of in-demand components like high-voltage breakers, various policies related to the permitting and interconnection costs of solar plants, and the availability of incentives for solar energy and solar energy production systems, which makes it difficult to predict our future prospects; competitive pressures within our industry, competition from conventional and renewable energy sources; a loss of one or more of our significant customers, their inability to perform under their contracts, or their default in payment; a drop in the price of electricity derived from the utility grid or from alternative energy sources; fluctuations in our results of operations across fiscal periods, which could make our future performance difficult to predict and could cause our results of operations for a particular period to fall below expectations; any increase in interest rates, or a reduction in the availability of tax equity or project debt capital in the global financial markets, which could make it difficult for customers to finance the cost of a solar energy system and reduce the demand for our products; existing electric utility industry policies and regulations, and any subsequent changes or new related policies and regulations, including as a result of the One Big Beautiful Bill Act, which may present technical, regulatory and economic barriers to the purchase and use of solar energy systems and may significantly reduce demand for our products or harm our ability to compete; the interruption of the flow of materials from international vendors, which could disrupt our supply chain, including as a result of the imposition of new and/or additional duties, tariffs and other charges or restrictions on imports and exports; changes in the global trade environment, including the continuation or imposition of import tariffs or other import restrictions; geopolitical, macroeconomic and other market conditions unrelated to our operating performance including but not limited to a pandemic, the Ukraine-Russia war, attacks on shipping in the Red Sea and Straight of Hormoz, conflict in the Middle East, changing trade policies, and inflation and interest rates; our ability to convert our orders in backlog into revenue; the reduction, elimination or expiration, or our failure to optimize the benefits of government incentives for, or regulations mandating the use of, renewable energy and solar energy, particularly in relation to our competitors, which could reduce demand for solar energy systems; failure to, or incurrence of significant costs in order to, obtain, maintain, protect, defend or enforce, our intellectual property and other proprietary rights; delays in construction projects and any failure to manage our inventory; significant changes in the cost of raw materials; disruptions to transportation and logistics, including increases in shipping costs; defects or performance problems in our products, which could result in loss of customers, reputational damage and decreased revenue; delays, disruptions or quality control problems in our product development operations; our ability to retain our key personnel or failure to attract additional qualified personnel; additional business, financial, regulatory and competitive risks due to our continued planned expansion into new markets; cybersecurity or other data incidents, including unauthorized disclosure of personal or sensitive data or theft of confidential information and the use of artificial intelligence by cyber threat actors; a failure to maintain an effective system of integrated internal controls over financial reporting, which may impair our ability to report our financial results accurately; our substantial indebtedness, risks related to actual or threatened public health epidemics, pandemics, outbreaks or crises; changes to laws and regulations, including changes to tax laws and regulations, that are applied adversely to us or our customers; our ability to successfully integrate APA Solar, LLC into our existing operations and realize the anticipated benefits or synergies of the acquisition; and other factors listed and described in more detail in the section captioned “Risk Factors” in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q, and our other documents on file with the U.S. Securities and Exchange Commission, each of which can be found on our website, www.arraytechinc.com.
Given these uncertainties, you should not place undue reliance on forward-looking statements. Also, forward-looking statements represent our management’s beliefs and assumptions only as of the date of this presentation. You should read this press release with the understanding that our actual future results may be materially different from what we expect. 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 references certain financial measures that are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”), including AWM's trailing twelve-month EBITDA. "AWM's trailing twelve-month EBITDA" means net income plus interest expense, income tax expense (benefit), depreciation, and amortization during the twelve-month period ended May 31, 2026. This presentation also refers to ARRAY's Adjusted EPS. We define Adjusted net (loss) income as net (loss) income to common stockholders plus (i) amortization of intangibles, (ii) amortization of developed technology and backlog, (iii) amortization of debt discount and issuance costs, (iv) Series A preferred stock accretion, (v) equity-based compensation, (vi) change in fair value of contingent consideration, (vii) certain legal expenses, (viii) acquisition-related expenses, and (ix) income tax expense adjustments. We define Adjusted net (loss) income per common share as Adjusted net (loss) income divided by the basic and diluted weighted average number of shares outstanding for the applicable period.
