Array Technologies, Inc. (ARRY - Free Report) has been on a downward spiral lately with significant selling pressure. After declining 26.9% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.
RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30.
Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal.
So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefiting from the inevitable rebound.
However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision.
Here's Why ARRY Could Experience a TurnaroundThe RSI reading of 29.73 for ARRY is an indication that the heavy selling could be in the process of exhausting itself, so the stock could bounce back in a quest for reaching the old equilibrium of supply and demand.
This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering ARRY in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 1.8% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.
Moreover, ARRY currently has a Zacks Rank #1 (Strong Buy), which means it is in the top 5% of more than 4,000 stocks that we rank based on trends in earnings estimate revisions and EPS surprises. This is a more conclusive indication of the stock's potential turnaround in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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, Inc. (ARRY - Free Report) ended the recent trading session at $6.05, demonstrating a +1.6% change from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.89%. At the same time, the Dow added 0.74%, and the tech-heavy Nasdaq gained 1.29%.
Coming into today, shares of the company had lost 30.33% in the past month. In that same time, the Oils-Energy sector gained 4.15%, while the S&P 500 lost 0.63%.
Market participants will be closely following the financial results of Array Technologies, Inc. in its upcoming release. The company plans to announce its earnings on August 5, 2026. It is anticipated that the company will report an EPS of $0.11, marking a 56% fall compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $323.84 million, indicating a 10.6% downward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $0.73 per share and a revenue of $1.45 billion, indicating changes of +8.96% and +13.02%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Array Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.83% higher. As of now, Array Technologies, Inc. holds a Zacks Rank of #1 (Strong Buy).
In terms of valuation, Array Technologies, Inc. is currently trading at a Forward P/E ratio of 8.17. This signifies a discount in comparison to the average Forward P/E of 18.81 for its industry.
It is also worth noting that ARRY currently has a PEG ratio of 0.7. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Solar was holding an average PEG ratio of 0.85 at yesterday's closing price.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 57, positioning it in the top 24% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
July 20, 2026 08:30 ET | Source: Array Technologies, Inc.
ALBUQUERQUE, N.M., July 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, today announced that it will host an APA Investor Technology Showcase on Thursday, August 20, 2026, beginning at 9:00 a.m. ET.
Held approximately one year after the close of ARRAY’s acquisition of APA Solar (APA), the event will feature presentations and a Q&A session with CEO Kevin Hostetler and members of ARRAY and APA’s leadership teams. Presentations will cover the Company's Balance of System strategy, an overview and deep dive on APA, ARRAY’s innovation roadmap and long-term growth opportunities.
Following the presentations, in-person attendees will attend a manufacturing facility tour and live product demonstrations at APA’s headquarters in Ridgeville Corners, Ohio.
Advance registration is required for in-person attendance. Investors interested in attending the event in person are encouraged to contact ARRAY Investor Relations at [email protected] for additional information.
Registration for the live webcast will be 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.
About ARRAY Technologies, Inc.
ARRAY Technologies, Inc. (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.
Array Technologies, Inc. (ARRY) M&A Call July 16, 2026 6:00 PM EDT
Company Participants
Sarah Sheppard - Head of Investor Relations
Kevin Hostetler - CEO & Director
Aaron Gabelnick - Chief Strategy & Technology Officer
Keith Jennings - Chief Financial Officer
Presentation
Operator
Greetings. Welcome to ARRAY Technologies conference call. [Operator Instructions] Please note, this conference is being recorded. I will now turn the conference over to Sarah Sheppard of Investor Relations. Thank you. You may begin.
Sarah Sheppard
Head of Investor Relations
Thank you. I would like to welcome everyone to ARRAY Technologies conference call concerning our recently announced proposed acquisition of Affordable Wire Management. I'm joined on this call by Kevin Hostetler, our CEO; Keith Jennings, our CFO; and Dr. Aaron Gabelnick, our Chief Strategy and Technology Officer. Today's call is being webcast via our Investor Relations site at ir.arraytechinc.com, including audio and slides. In addition, the press release and the presentation detailing our proposed acquisitions have been posted on the website.
As a reminder, the matters we are discussing today include forward-looking statements regarding the proposed acquisition of AWM, the anticipated benefits, including synergies and increased competitive advantages, the anticipated impact of the acquisition on our business and future financial and operating results and other matters. I would also like to kindly remind you that our second quarter ended on June 30, and we expect to announce earnings on August 5, which means we will not discuss second quarter results on this webcast. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from statements made on this call. For details, please see the information at the beginning of the presentation materials.
And as always, we refer you to the documents we file with the SEC for a discussion of risks that may
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.
Key Takeaways ARCO, HALO, TX and ARRY qualified a screen for high earnings yield and buy-rated value stocks.Earnings yield above 10% was paired with EPS growth, liquidity and price filters to find value picks.The four picks show projected 2026 sales and EPS growth, with estimates rising over 60 days. Inflation seems to be cooling. In June, the Consumer Price Index rose less than expected, and the Producer Price Index fell 0.3%. That said, it is too early to say rate hikes are completely off the table. Even as short-term hike odds may have eased, markets still appear to be pricing in the possibility of additional tightening later this year, so the path for rates remains uncertain.
Renewed tensions between the United States and Iran have once again brought the Strait of Hormuz into focus. Although President Trump withdrew a proposed 20% levy on ships using the strategic waterway, military attacks between the two countries continue. Concerns over global energy supplies and trade disruptions have resurfaced, keeping investors on edge.
With geopolitical risks likely to persist, market volatility could remain elevated in the near term. In such an environment, value investing stands out as a prudent approach, as fundamentally strong companies trading below their intrinsic value tend to offer greater resilience during periods of uncertainty and market turbulence.
Arcos Dorados Holdings (ARCO - Free Report) , Halozyme Therapeutics (HALO - Free Report) , Ternium S.A. (TX - Free Report) and Array Technologies (ARRY - Free Report) are a few value stocks with high earnings yield.
Using the Earnings Yield MetricEarnings yield is an interesting ratio that you can consider for ferreting out attractively valued stocks. This metric, expressed in percentage, is calculated as annual earnings per share (EPS) divided by market price. This metric measures the anticipated yield (or return) from earnings for each dollar invested in a stock today. While comparing stocks, if other factors are similar, the ones with higher earnings yield are considered undervalued, while those with lower earnings yield are seen as overpriced.
While earnings yield is the reciprocal of the P/E ratio, it is a little more illuminating than the traditional P/E ratio as it facilitates the comparison of stocks with fixed-income securities. Investors often compare the earnings yield of a stock to the prevailing interest rates, such as the current 10-year Treasury yield, to get a sense of the return on investment it offers compared to virtually risk-free returns.
If the yield on a stock is lower than the 10-year Treasury yield, it would be considered overvalued relative to bonds. Conversely, if the yield on the stock is higher, it would be considered undervalued. In this situation, investing in the stock market would be a better option for a value investor.
Setting the Right FiltersWe have set an Earnings Yield greater than 10% as our primary screening criterion but it alone cannot be used for picking stocks that have the potential to generate solid returns. So, we have added the following parameters to the screen:
Estimated EPS growth for the next 12 months greater than or equal to the S&P 500: This metric compares the 12-month forward EPS estimate with the 12-month actual EPS.
Average Daily Volume (20 Day) greater than or equal to 100,000: High trading volume implies that a stock has adequate liquidity.
Current Price greater than or equal to $5.
Buy-Rated Stocks: Stocks with a Zacks Rank #1 (Strong Buy) or 2 (Buy) have been known to outperform peers in any type of market environment. You can see the complete list of today’s Zacks #1 Rank stocks here.
Our PicksWe have highlighted four of the 29 stocks that qualified the screen:
Arcos Dorados operates as a franchisee of McDonald’s restaurants. The company is benefiting from healthy comparable sales growth, supported by rising digital engagement, a growing loyalty platform and resilient guest traffic. Continued restaurant expansion, operational efficiency initiatives and a focus on value offerings position Arcos Dorados for sustainable long-term growth.
The Zacks Consensus Estimate for ARCO’s 2026 and 2027 EPS implies year-over-year growth of 181% and 19%, respectively. Estimates for 2026 and 2027 earnings per share have moved up by 5 cents and 2 cents, respectively, over the past 60 days. Arcos Dorados currently sports a Zacks Rank #1 and has a Value Score of A.
Halozyme is a biopharmaceutical company benefiting from its ENHANZE drug delivery technology. Strong demand for products such as Roche's Phesgo, argenx's Vyvgart Hytrulo, and J&J's subcutaneous Darzalex is driving royalty revenues. With new partnership opportunities and continued product momentum, the company is well-positioned for sustained growth through 2026.
The Zacks Consensus Estimate for HALO’s 2026 and 2027 EPS implies year-over-year growth of 92% and 21%, respectively. Estimates for 2026 and 2027 earnings per share have moved up by 4 cents and 27 cents, respectively, over the past 60 days. Halozyme currently has a Zacks Rank #2 and a Value Score of B.
Ternium, a leading flat and long steel producer, is well-positioned to benefit from recovering demand and firmer steel prices across key markets. Mexico's commercial sector is rebounding post-destocking, infrastructure spending is supporting shipments, and Brazil's automotive demand remains solid, aided by favorable trade measures. Cost-competitive facilities and proactive steps to bolster liquidity further strengthen Ternium’s outlook.
The Zacks Consensus Estimate for TX’s 2026 and 2027 EPS implies year-over-year growth of 182% and 7%, respectively. EPS estimates for the current year and the next have moved up by $1.68 and 21 cents, respectively, over the past 60 days. Ternium currently sports a Zacks Rank #1 and has a Value Score of A.
Array Technologies develops a solar tracking system. It is strengthening its competitive position with 100% domestically sourced solar trackers, an advantage amid evolving trade and policy dynamics. The acquisition of APA Solar has expanded its product portfolio to include foundation and fixed-tilt solutions, making it a more integrated supplier. Backed by a healthy order book, improving demand and APA Solar's contribution, the company is well-positioned for continued growth.
The Zacks Consensus Estimate for ARRY’s 2026 and 2027 EPS implies year-over-year growth of 9% and 26%, respectively. EPS estimates for the current year and the next have moved up by 1 cent each over the past 60 days. Array Technologies currently sports a Zacks Rank #1 and has a Value Score of A.
Array Technologies, Inc. (ARRY - Free Report) ended the recent trading session at $6.37, demonstrating a +1.43% change from the preceding day's closing price. The stock outpaced the S&P 500's daily gain of 0.38%. On the other hand, the Dow registered a gain of 0.29%, and the technology-centric Nasdaq increased by 0.62%.
The company's shares have seen a decrease of 20.1% over the last month, not keeping up with the Oils-Energy sector's loss of 1.03% and the S&P 500's gain of 1.61%.
The investment community will be paying close attention to the earnings performance of Array Technologies, Inc. in its upcoming release. The company is slated to reveal its earnings on August 5, 2026. It is anticipated that the company will report an EPS of $0.11, marking a 56% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $323.84 million, reflecting a 10.6% fall from the equivalent quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $0.73 per share and a revenue of $1.45 billion, signifying shifts of +8.96% and +13.02%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Array Technologies, Inc. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has moved 2.1% higher. Currently, Array Technologies, Inc. is carrying a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Array Technologies, Inc. currently has a Forward P/E ratio of 8.62. This indicates a discount in contrast to its industry's Forward P/E of 21.44.
It's also important to note that ARRY currently trades at a PEG ratio of 0.74. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Solar industry had an average PEG ratio of 0.93 as trading concluded yesterday.
The Solar industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
July 13, 2026 08:30 ET | Source: Array Technologies, Inc.
ALBUQUERQUE, N.M., July 13, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies, Inc. (the “Company” or “ARRAY”) (NASDAQ: ARRY), a leading global provider of solar tracking technology products, software, services and foundation solutions, today announced that the Company will release its second quarter 2026 results after the market closes on Wednesday, August 5, 2026, to be followed by a conference call at 5:00 p.m. (Eastern Time) that same day.
The conference call can be accessed live over the phone by dialing (888)-396-8049 (domestic) or (416)-764-8646 (international), or via webcast of the live conference call by logging onto the Investor Relations section of the Company’s website at http://ir.arraytechinc.com. A telephonic replay will be available approximately three hours after the call by dialing (877)-660-6853 (domestic), or (201)-612-7415 (international), with the passcode 13761476. The replay will be available until 11:59 p.m. (ET) on August 19, 2026. The online replay will be available for 14 days on the same website, immediately following the call.
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 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 arraytechinc.com.
In the latest close session, Array Technologies, Inc. (ARRY - Free Report) was up +1.89% at $6.46. This change outpaced the S&P 500's 0.81% gain on the day. At the same time, the Dow added 0.27%, and the tech-heavy Nasdaq gained 1.3%.
Coming into today, shares of the company had lost 7.24% in the past month. In that same time, the Oils-Energy sector lost 3.61%, while the S&P 500 gained 1.13%.
The investment community will be closely monitoring the performance of Array Technologies, Inc. in its forthcoming earnings report. The company is expected to report EPS of $0.1, down 60% from the prior-year quarter. Alongside, our most recent consensus estimate is anticipating revenue of $323.84 million, indicating a 10.6% downward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.72 per share and a revenue of $1.45 billion, demonstrating changes of +7.46% and +13.02%, respectively, from the preceding year.
It is also important to note the recent changes to analyst estimates for Array Technologies, Inc. These revisions help to show the ever-changing nature of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.95% upward. As of now, Array Technologies, Inc. holds a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Array Technologies, Inc. currently has a Forward P/E ratio of 8.79. This expresses a discount compared to the average Forward P/E of 20.26 of its industry.
Meanwhile, ARRY's PEG ratio is currently 0.76. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As the market closed yesterday, the Solar industry was having an average PEG ratio of 0.89.
The Solar industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 60, positioning it in the top 25% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
Array Technologies is undervalued despite sector tailwinds, offering an attractive entry for long-term clean energy exposure. ARRY's recent underperformance stems from US market overreliance, questionable acquisitions, and management missteps, yet backlog and book-to-bill ratios are improving. My conservative DCF projects revenue at the lower end of guidance and margins ~550 bps below the company's 2026 guidance, reflecting my cautious stance but still supporting a 'buy' rating.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Of these, value investing is easily one of the most popular ways to find great stocks in any market environment. Value investors use fundamental analysis and traditional valuation metrics to find stocks that they believe are being undervalued by the market at large.
In addition to the Zacks Rank, investors looking for stocks with specific traits can utilize our Style Scores system. Of course, value investors will be most interested in the system's "Value" category. Stocks with "A" grades for Value and high Zacks Ranks are among the best value stocks available at any given moment.
One stock to keep an eye on is Array Technologies (ARRY - Free Report) . ARRY is currently holding a Zacks Rank #1 (Strong Buy) and a Value grade of A. The stock is trading with a P/E ratio of 9.1, which compares to its industry's average of 17.71. Over the last 12 months, ARRY's Forward P/E has been as high as 12.17 and as low as 5.84, with a median of 8.40.
Investors will also notice that ARRY has a PEG ratio of 0.42. This popular figure is similar to the widely-used P/E ratio, but the PEG ratio also considers a company's expected EPS growth rate. ARRY's industry currently sports an average PEG of 1.00. ARRY's PEG has been as high as 1.22 and as low as 0.28, with a median of 0.63, all within the past year.
Value investors also use the P/S ratio. The P/S ratio is calculated as price divided by sales. This is a popular metric because sales are harder to manipulate on an income statement, so they are often considered a better performance indicator. ARRY has a P/S ratio of 0.81. This compares to its industry's average P/S of 1.35.
These figures are just a handful of the metrics value investors tend to look at, but they help show that Array Technologies is likely being undervalued right now. Considering this, as well as the strength of its earnings outlook, ARRY feels like a great value stock at the moment.
Array Technologies, Inc. (ARRY - Free Report) ended the recent trading session at $7.12, demonstrating a -7.41% change from the preceding day's closing price. This change lagged the S&P 500's 0.05% loss on the day. Meanwhile, the Dow lost 0.09%, and the Nasdaq, a tech-heavy index, lost 0.24%.
Heading into today, shares of the company had lost 16.96% over the past month, lagging the Oils-Energy sector's loss of 8.57% and the S&P 500's loss of 1.42%.
The upcoming earnings release of Array Technologies, Inc. will be of great interest to investors. It is anticipated that the company will report an EPS of $0.1, marking a 60% fall compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $323.09 million, down 10.81% from the year-ago period.
For the full year, the Zacks Consensus Estimates project earnings of $0.72 per share and a revenue of $1.45 billion, demonstrating changes of +7.46% and +12.72%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Array Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Array Technologies, Inc. is currently sporting a Zacks Rank of #3 (Hold).
Looking at valuation, Array Technologies, Inc. is presently trading at a Forward P/E ratio of 10.7. This valuation marks a discount compared to its industry average Forward P/E of 22.24.
Investors should also note that ARRY has a PEG ratio of 0.94 right now. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. ARRY's industry had an average PEG ratio of 0.99 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 169, placing it within the bottom 31% of over 250 industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
ALBUQUERQUE, N.M., June 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 the launch of ARRAY DuraTrack D2S™, an evolution of ARRAY’s product portfolio. The new tracker offering brings the best features of ARRAY’s trusted DuraTrack® system architecture to the two-row format preferred across many international markets.
Duratrack D2S was designed to address a number of constraints that determine real solar project economics. Upfront, D2S can facilitate lower capital expenditure through faster installation, better terrain tolerance, and more design flexibility on constrained land. Over the life of the project, D2S is built to deliver an energy yield benefit, by reducing energy loss from wind stow, and to minimize ongoing operating costs through durable design and lowered maintenance needs.
DuraTrack D2S includes key features of ARRAY’s flagship DuraTrack product, including:
ARRAY Wind XP™ Patented Passive Wind Stow Technology: Minimizes unnecessary stow and sensor failure risk through ARRAY’s trusted mechanical stow solution shown to offer an energy yield benefit of up to 4%. Leading Terrain Adaptability: Incorporates ARRAY OmniTrack® terrain-following capability to minimize terrain modifications, reduce grading costs during construction by following natural land contours, and maintaining natural ecology.ARRAY SmarTrack® Enabled: Facilitates optimized energy yield on projects with Terrain Adaptive Backtracking and Diffuse Weather Response while also providing features to mitigate risk from extreme weather conditions.
As customers face development on increasingly complex, fragmented, and terrain-challenged sites, Duratrack D2S represents an extension of ARRAY’s proven technology for customers who prefer the flexibility of a two-row design.
“D2S represents the next evolution of ARRAY’s portfolio and our continued commitment to advancing smarter, more resilient solar racking solutions,” said Nick Strevel, Chief Product Officer of ARRAY. “By bringing proven, industry-leading tracker technology to new formats, we are helping customers unlock greater performance, reliability, and value as demand for solar energy continues to grow worldwide.”
DuraTrack D2S is launching first in the EMEA market and began construction on its first commercial installation in Spain in Q1 2026.
“ARRAY is a key partner to us, and as soon as they presented the DuraTrack D2S tracker we were eager to install it and install it fast! A passive-stow tracker, in dual-row configuration, is what we were looking for,” said Salix Solar, a Spanish solar developer and the initial commercial customer for D2S.
This solution reflects ARRAY’s dedication to providing reliability and value for performance, addressing the real-world challenges faced by solar energy producers. With more than 35 years of reliability and over 100 GW of solar trackers awarded or installed worldwide, ARRAY continues to evolve and adapt to market demands.
For more information about DuraTrack D2S and to connect with an ARRAY representative to evaluate how DuraTrack D2S can improve your project’s energy yield, visit https://arraytechinc.com/duratrackd2s/
For more information about ARRAY Technologies and its industry-leading solar tracking solutions, visit https://arraytechinc.com/
About ARRAY
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 Company’s ability to continue to grow its global installed base and expand into new markets; the expected performance, reliability, and market adoption of DuraTrack D2S; the anticipated energy yield, capital expenditure, and installation benefits of DuraTrack D2S, including the referenced up to 4% energy yield benefit from Wind XP Passive Wind Stow Technology; the anticipated benefits of incorporating OmniTrack terrain-following capability and SmarTrack software into the two-row format; the continued advancement of the Company’s software and service offerings; the Company’s expectations regarding continued demand for solar energy and utility-scale solar deployment; 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; delays in product availability or shipment; actual field performance of DuraTrack D2S, Wind XP, OmniTrack, and SmarTrack that may differ from modeled or anticipated results; macroeconomic conditions, trade policy changes, or supply chain disruptions affecting operations; changes in government policy or incentives supporting solar energy deployment; challenges in expanding DuraTrack D2S into EMEA and other international markets; 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 we file with the SEC, 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.
In the latest trading session, Array Technologies, Inc. (ARRY - Free Report) closed at $7.86, marking a -2.72% move from the previous day. The stock trailed the S&P 500, which registered a daily loss of 0.57%. On the other hand, the Dow registered a gain of 0.64%, and the technology-centric Nasdaq decreased by 1.15%.
The company's stock has dropped by 4.38% in the past month, exceeding the Oils-Energy sector's loss of 6.38% and lagging the S&P 500's gain of 2.14%.
Investors will be eagerly watching for the performance of Array Technologies, Inc. in its upcoming earnings disclosure. On that day, Array Technologies, Inc. is projected to report earnings of $0.12 per share, which would represent a year-over-year decline of 52%. Simultaneously, our latest consensus estimate expects the revenue to be $323.09 million, showing a 10.81% drop compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $0.72 per share and a revenue of $1.45 billion, representing changes of +7.46% and +12.72%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Array Technologies, Inc. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Array Technologies, Inc. is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Array Technologies, Inc.'s current valuation metrics, including its Forward P/E ratio of 11.28. Its industry sports an average Forward P/E of 24.67, so one might conclude that Array Technologies, Inc. is trading at a discount comparatively.
It's also important to note that ARRY currently trades at a PEG ratio of 0.99. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. ARRY's industry had an average PEG ratio of 1.03 as of yesterday's close.
The Solar industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 170, finds itself in the bottom 31% echelons of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
Investors in Array Technologies, Inc. (ARRY - Free Report) need to pay close attention to the stock based on moves in the options market lately. That is because the June 18, 2026 $2.00 Call had some of the highest implied volatility of all equity options today.
What is Implied Volatility?Implied volatility shows how much movement the market is expecting in the future. Options with high levels of implied volatility suggest that investors in the underlying stocks are expecting a big move in one direction or the other. It could also mean there is an event coming up soon that may cause a big rally or a huge sell-off. However, implied volatility is only one piece of the puzzle when putting together an options trading strategy.
What do the Analysts Think?Clearly, options traders are pricing in a big move for Array Technologies shares, but what is the fundamental picture for the company? Currently, Array Technologies is a Zacks Rank #3 (Hold) in the Solar industry that ranks in the Bottom 32% of our Zacks Industry Rank. Over the last 60 days, no analysts have increased their earnings estimates for the current quarter, while five analysts have revised their estimates downward. The net effect has taken our Zacks Consensus Estimate for the current quarter from 23 cents per share to 12 cents in that period.
Given the way analysts feel about Array Technologies right now, this huge implied volatility could mean there’s a trade developing. Oftentimes, options traders look for options with high levels of implied volatility to sell premium. This is a strategy many seasoned traders use because it captures decay. At expiration, the hope for these traders is that the underlying stock does not move as much as originally expected.
Record total executed contracts and awarded orders at March 31, 2026 of $2.4 billionAchieved 2x book-to-bill with ~50% increase in APA orderbook. Trailing twelve-month book-to-bill of 1.3x.Contracted projects in Turkey, Peru, and Colombia, highlighting our international diversificationIntroducing DuraTrack D2S, a new dual-row tracker solution for international markets with key features and capabilities of flagship DuraTrack® productReaffirming Full Year 2026 financial guidance 2026 First Quarter Financial Highlights
(in millions, except per share)1Q 2026Revenue$223.4 Gross margin 28.2% Adjusted gross margin(1) 30.7% Net loss to common shareholders($13.5) Adjusted EBITDA(1)$28.8 Net loss per basic and diluted common share($0.09) Adjusted net income per diluted common share(1)$0.06 ALBUQUERQUE, N.M., May 06, 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 financial results for its first quarter ended March 31, 2026.
“ARRAY began 2026 with strong performance, delivering revenue and Adjusted EBITDA(1) above the expectations we set on our last earnings call. We delivered another 2x book-to-bill quarter, closing the period at a new record orderbook of $2.4 billion. Orderbook growth continues to be enabled by our traction with our new product offerings like OmniTrack™ and investment in our software and services businesses. We remain focused on high-quality domestic opportunities while pursuing disciplined international expansion, and our momentum this quarter reflected strength both domestically and abroad,” said Chief Executive Officer, Kevin G. Hostetler.
Mr. Hostetler continued, “The integration of APA continues to progress very well, and we opened a new APA headquarters to centralize our team, accelerate collaboration, and support a research and training center alongside a 5-acre solar innovation site. This new space will also house the APA Foundations Center of Excellence, enabling foundation offerings integrated with ARRAY tracking technology. Finally, I’m excited to introduce DuraTrack D2S, our next-generation dual-row tracker for key international markets, which combines patented passive wind stow technology, terrain adaptability, and optimized control through SmarTrack® into a single flexible platform. As we move through 2026, we will continue updating stakeholders on our progress against our strategic priorities - investing for the future to support margin resilience and scale, while driving commercial excellence and advancing our global expansion.”
Reaffirming Full Year 2026 Guidance
For the year ending December 31, 2026, the Company expects:
Revenue to be in the range of $1.4 billion to $1.5 billionAdjusted EBITDA(2) to be in the range of $200 million to $230 millionAdjusted net income per common share(2) to be in the range of $0.65 to $0.75 For the quarter ending June 30, 2026, the Company expects revenue to be in the range of $300 million to $320 million.
(1) A reconciliation of the most comparable GAAP measure to its Non-GAAP measure is included below.
(2) A reconciliation of projected Adjusted gross profit, Adjusted gross margin, Adjusted EBITDA and Adjusted net income per common share, which are forward-looking measures that are not prepared in accordance with GAAP, to the most directly comparable GAAP financial measures, is not provided because we are unable to provide such reconciliation without unreasonable effort. The inability to provide a quantitative reconciliation is due to the uncertainty and inherent difficulty predicting the occurrence, the financial impact and the periods in which the components of the applicable GAAP measures and non-GAAP adjustments may be recognized. The GAAP measures may include the impact of such items as non-cash share-based compensation, revaluation of the fair-value of our contingent consideration, and the tax effect of such items, in addition to other items we have historically excluded from Adjusted EBITDA and Adjusted net income per common share. We expect to continue to exclude these items in future disclosures of these non-GAAP measures and may also exclude other similar items that may arise in the future (collectively, “non-GAAP adjustments”). The decisions and events that typically lead to the recognition of non-GAAP adjustments are inherently unpredictable as to if or when they may occur. As such, for our 2026 guidance, we have not included estimates for these items and are unable to address the probable significance of the unavailable information, which could be material to future results.
Supplemental Presentation and Conference Call Information
ARRAY has posted a supplemental presentation to its website, which will be discussed during the conference call hosted by management today (May 6, 2026) at 5:00 p.m. (ET). The conference call can be accessed live over the phone by dialing (877)-869-3847 (domestic) or (201)-689-8261 (international), or via webcast of the live conference call by logging onto the Investor Relations section of the Company’s website at http://ir.arraytechinc.com. A telephonic replay will be available approximately three hours after the call by dialing (877)-660-6853 (domestic), or (201)-612-7415 (international), with the passcode 13759742. The replay will be available until 11:59 p.m. (ET) on May 20, 2026. The online replay will be available for 14 days on the same website, immediately following the call.
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 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,” “designed to” “positioned” or similar expressions and the negatives of those terms.
ARRAY’s 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, 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; 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 report. 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 includes certain financial measures that are not presented in accordance with U.S. generally accepted accounting principles (“GAAP”), including Adjusted gross profit, Adjusted gross margin, Adjusted EBITDA, Adjusted net (loss) income, Adjusted net (loss) income per common share, Adjusted general and administrative expense and Free cash flow.
We define Adjusted gross profit as gross profit plus (i) amortization of developed technology and backlog and (ii) acquisition-related expenses. We define Adjusted gross margin as Adjusted gross profit as a percentage of revenue. We define Adjusted EBITDA as net (loss) income to common stockholders plus (i) other (income) expense, net, (ii) foreign currency (gain) loss, net, (iii) preferred dividends and accretion, (iv) interest expense, (v) income tax expense, (vi) depreciation expense, (vii) amortization of intangibles, (viii) amortization of developed technology and backlog, (ix) equity-based compensation, (x) change in fair value of contingent consideration, (xi) certain legal expenses, and (xii) acquisition-related expenses. We define Adjusted EBITDA margin as Adjusted EBITDA as a percentage of revenue. We define Adjusted net 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 general and administrative expense as general and administrative expense less (i) equity-based compensation, (ii) certain legal expenses, and (iii) acquisition-related expenses. We define Free cash flow as Net cash used in operating activities less purchase of property, plant and equipment.
A detailed reconciliation between GAAP results and results excluding special items (“non-GAAP”) is included within this press release. We calculate net (loss) income per common share as net (loss) income to common stockholders divided by the basic and diluted weighted average number of shares outstanding for the applicable period and we define Adjusted net income per common share as Adjusted net income (as detailed above) divided by the basic and diluted weighted average number of shares outstanding for the applicable period.
We believe that these non-GAAP financial measures are provided to enhance the reader’s understanding of our past financial performance and our prospects for the future. Our management team uses these non-GAAP financial measures in assessing the Company’s performance, as well as in planning and forecasting future periods. The non-GAAP financial information is presented for supplemental informational purposes only and should not be considered a substitute for financial information presented in accordance with GAAP and may be different from similarly titled non-GAAP measures used by other companies.
Among other limitations, Adjusted gross profit, Adjusted gross margin, Adjusted EBITDA, Adjusted net income, Adjusted net income per common share, Adjusted general and administrative expense and Free cash flow do not reflect our cash expenditures, or future requirements, for capital expenditures or contractual commitments; do not reflect the impact of certain cash charges resulting from matters we consider not to be indicative of our ongoing operations; do not reflect income tax expense or benefit; and other companies in our industry may calculate Adjusted gross profit, Adjusted gross margin, Adjusted EBITDA, Adjusted net income, Adjusted net income per common share, Adjusted general and administrative expense and Free cash flow differently than we do, which limits their usefulness as comparative measures. Because of these limitations, Adjusted gross profit, Adjusted gross margin, Adjusted EBITDA, Adjusted net income, Adjusted net income per common share, Adjusted general and administrative expense and Free cash flow should not be considered in isolation or as substitutes for performance measures calculated in accordance with GAAP.
We compensate for these limitations by relying primarily on our GAAP results and using Adjusted gross profit, Adjusted gross margin, Adjusted EBITDA, Adjusted net income, Adjusted net income per common share, Adjusted general and administrative expense and Free cash flow on a supplemental basis.
You should review the reconciliation of gross profit to Adjusted gross profit and Adjusted gross margin, net (loss) income to Adjusted EBITDA, Adjusted net income and Adjusted net income per common share, General and administrative expense to Adjusted general and administrative expense and Net cash used in operating activities to Free cash flow below and not rely on any single financial measure to evaluate our business.
Array Technologies, Inc.
Condensed Consolidated Balance Sheets (unaudited)
(in thousands, except per share and share amounts)
March 31, 2026 December 31, 2025ASSETSCurrent assets Cash and cash equivalents$200,702 $244,388 Restricted cash 1,291 1,596 Accounts receivable, net of allowance of $6,800 and $6,245, respectively 292,327 271,578 Inventories, net 167,973 150,374 Prepaid expenses and other 217,126 201,108 Total current assets 879,419 869,044 Property, plant and equipment, net 62,136 58,225 Lease assets 94,531 97,088 Goodwill 135,173 135,173 Other intangible assets, net 224,921 238,579 Deferred income tax assets 24,735 23,965 Other assets 54,112 29,718 Total assets$1,475,027 $1,451,792 LIABILITIES, REDEEMABLE PERPETUAL PREFERRED STOCK AND STOCKHOLDERS' EQUITYCurrent liabilities Accounts payable$142,172 $143,994 Accrued expenses 62,777 54,289 Income tax payable 5,685 4,687 Deferred revenue 138,527 128,433 Current portion of contingent consideration 10,248 14,551 Current portion of warranty liability 12,018 10,844 Current portion of lease liabilities 7,587 7,662 Current portion of debt 9,464 10,315 Other current liabilities 1,925 2,237 Total current liabilities 390,403 377,012 Deferred income tax liabilities 21,307 22,133 Contingent consideration, net of current portion 11,882 12,739 Warranty liability, net of current portion 5,209 5,466 Lease liabilities, net of current portion 89,197 89,552 Long-term debt, net of current portion 656,958 658,664 Other long-term liabilities 32,187 25,838 Total liabilities 1,207,143 1,191,404 Commitments and contingencies Series A Redeemable Perpetual Preferred Stock of $0.001 par value; 500,000 authorized; 498,498 and 490,829 shares issued as of March 31, 2026 and December 31, 2025, respectively; liquidation preference of $498.5 million and $493.1 million at each date, respectively 482,265 466,728 Stockholders’ equity Preferred stock of $0.001 par value - 4,500,000 shares authorized; none issued at respective dates — — Common stock of $0.001 par value - 1,000,000,000 shares authorized; 153,734,045 and 152,779,614 shares issued at respective dates 155 152 Additional paid-in capital 214,485 226,848 Accumulated deficit (420,862) (422,859)Accumulated other comprehensive loss (8,159) (10,481)Total stockholders’ equity (214,381) (206,340)Total liabilities, redeemable perpetual preferred stock and stockholders’ equity$1,475,027 $1,451,792 Array Technologies, Inc.
Condensed Consolidated Statements of Operations (unaudited)
(in thousands, except per share amounts) Three Months Ended March 31, 2026 2025 Revenue$223,412 $302,363 Cost of revenue Cost of product and service revenue 154,794 222,296 Amortization of developed technology and backlog 5,614 3,639 Total cost of revenue 160,408 225,935 Gross profit 63,004 76,428 Operating expenses General and administrative 50,404 43,945 Change in fair value of contingent consideration (2,586) (150)Depreciation and amortization 8,077 5,349 Total operating expenses 55,895 49,144 Income from operations 7,109 27,284 Interest income 2,387 3,319 Interest expense (5,563) (8,035)Foreign currency gain, net 161 689 Other income, net 31 23 Total other expense, net (2,984) (4,004) Income before income tax expense 4,125 23,280 Income tax expense 2,128 6,534 Net income 1,997 16,746 Preferred dividends and accretion 15,537 14,443 Net (loss) income to common stockholders$(13,540) $2,303 (Loss) income per common share Basic$(0.09) $0.02 Diluted$(0.09) $0.02 Weighted average number of common shares outstanding Basic 152,956 152,076 Diluted 152,956 152,783 Array Technologies, Inc.
Consolidated Statements of Cash Flows (unaudited)
(in thousands)
Three Months Ended March 31, 2026 2025 Operating activities Net income$1,997 $16,746 Adjustments to reconcile net income to cash used in operating activities: Provision for bad debts 195 1,671 Deferred tax (benefit) expense (1,596) 1,024 Depreciation and amortization 9,751 5,932 Amortization of developed technology and backlog 5,614 3,639 Amortization of debt discount and issuance costs 876 1,506 Equity-based compensation 3,941 2,798 Change in fair value of contingent consideration (2,586) (150)Warranty provision 3,341 1,720 Inventory reserve (526) 839 Other non-cash 161 — Changes in operating assets and liabilities (50,589) (48,784)Net cash used in operating activities (29,421) (13,059)Investing activities Purchase of property, plant and equipment (7,511) (2,352)Net cash used in investing activities (7,511) (2,352)Financing activities Proceeds from issuance of other debt 24,218 7,862 Repayments of other debt (27,412) (7,294)Repayments of term loan facility — (1,075)Contingent consideration payments (2,574) (1,204)Other financing (1,844) (14)Net cash used in financing activities (7,612) (1,725)Effect of exchange rate changes on cash and cash equivalent 553 2,488 Net change in cash and cash equivalents and restricted cash (43,991) (14,648)Cash and cash equivalents, and restricted cash beginning of period 245,984 364,141 Cash and cash equivalents and restricted cash, end of period$201,993 $349,493 Array Technologies, Inc.
Adjusted Gross Profit, Adjusted EBITDA, Adjusted Net Income, Adjusted General and Administrative Expense and Free Cash Flow Reconciliation (unaudited)
(in thousands, except per share amounts)
The following table reconciles Gross profit to Adjusted gross profit:
Three Months Ended March 31, 2026 2025 Revenue$223,412 $302,363 Cost of revenue 160,408 225,935 Gross profit 63,004 76,428 Gross margin 28.2% 25.3%Amortization of developed technology and backlog 5,614 3,639 Acquisition-related expenses(a) 40 — Adjusted gross profit$68,658 $80,067 Adjusted gross margin 30.7% 26.5% (a) Represents acquisition-related fair value adjustments to Property, plant, and equipment.
The following table reconciles Net income to Adjusted EBITDA:
Three Months Ended March 31, 2026 2025 Net income$1,997 $16,746 Preferred dividends and accretion 15,537 14,443 Net (loss) income to common stockholders (13,540) 2,303 Other income, net (2,418) (3,342)Foreign currency gain, net (161) (689)Preferred dividends and accretion 15,537 14,443 Interest expense 5,563 8,035 Income tax expense 2,128 6,534 Depreciation expense 2,364 1,043 Amortization of intangibles 7,388 4,889 Amortization of developed technology and backlog 5,614 3,639 Equity-based compensation 3,941 2,798 Change in fair value of contingent consideration (2,586) (150)Certain legal expenses(a) — 1,083 Acquisition-related expenses(b) 4,997 — Adjusted EBITDA$28,827 $40,586 (a) Represents certain legal fees and other related costs associated with (i) actions filed against the company and certain officers and directors alleging violations of the Securities Act of 1933 and the Securities Exchange Act of 1934, which litigation was dismissed with prejudice by the Court on May 19, 2023 and subsequently appealed. On March 24, 2026, the Second Circuit issued a summary order affirming the district court’s dismissal of such action with prejudice, and (ii) legal and success fees related to a regional tax dispute for a period prior to the acquisition of STI, and (iii) other litigation and legal matters. We consider these costs not representative of legal costs that we will incur from time to time in the ordinary course of our business.
(b) Represents acquisition-related expenses.
Array Technologies, Inc.
Adjusted Gross Profit, Adjusted EBITDA, Adjusted Net Income, Adjusted General and Administrative Expense and Free Cash Flow Reconciliation (unaudited)
(in thousands, except per share amounts)
The following table reconciles Net income to Adjusted net income: Three Months Ended March 31, 2026 2025 Net income$1,997 $16,746 Preferred dividends and accretion 15,537 14,443 Net (loss) income to common stockholders (13,540) 2,303 Amortization of Intangibles 7,388 4,889 Amortization of developed technology and backlog 5,614 3,639 Amortization of debt discount and issuance costs 876 1,393 Series A Preferred stock accretion 7,868 7,241 Equity-based compensation 3,941 2,798 Change in fair value of contingent consideration (2,586) (150)Certain legal expenses(a) — 1,083 Acquisition-related expenses(b) 5,061 — Income tax expense of adjustments(c) (5,790) (3,474)Adjusted net income$8,832 $19,722 (Loss) income per common share Basic$(0.09) $0.02 Diluted$(0.09) $0.02 Weighted average number of common shares outstanding Basic 152,956 152,076 Diluted 152,956 152,783 Adjusted net income per common share Basic$0.06 $0.13 Diluted$0.06 $0.13 Weighted average number of common shares outstanding Basic 152,956 152,076 Diluted 155,485 152,783 (a) Represents certain legal fees and other related costs associated with (i) actions filed against the company and certain officers and directors alleging violations of the Securities Act of 1933 and the Securities Exchange Act of 1934, which litigation was dismissed with prejudice by the Court on May 19, 2023 and subsequently appealed. On March 24, 2026, the Second Circuit issued a summary order affirming the district court’s dismissal of such action with prejudice, and (ii) legal and success fees related to a regional tax dispute for a period prior to the acquisition of STI, and (iii) other litigation and legal matters. We consider these costs not representative of legal costs that we will incur from time to time in the ordinary course of our business.
(b) Represents acquisition-related expenses and fair value adjustments to Property, plant and equipment.
(c) Represents the estimated tax impact of all Adjusted Net Income add-backs, excluding those which represent permanent differences between book versus tax.
Array Technologies, Inc.
Adjusted Gross Profit, Adjusted EBITDA, Adjusted Net Income, Adjusted General and Administrative Expense and Free Cash Flow Reconciliation (unaudited)
(in thousands, except per share amounts)
The following table reconciles General and administrative expense to Adjusted general and administrative expense: Three Months Ended March 31, 2026 2025 General and administrative expense$50,404 $43,945 Equity-based compensation (3,941) (2,798)Certain legal expenses(a) — (1,083)Acquisition-related expenses(b) (4,997) — Adjusted general and administrative expense$41,466 $40,064 (a) Represents certain legal fees and other related costs associated with (i) actions filed against the company and certain officers and directors alleging violations of the Securities Act of 1933 and the Securities Exchange Act of 1934, which litigation was dismissed with prejudice by the Court on May 19, 2023 and subsequently appealed. On March 24, 2026, the Second Circuit issued a summary order affirming the district court’s dismissal of such action with prejudice, and (ii) legal and success fees related to a regional tax dispute for a period prior to the acquisition of STI, and (iii) other litigation and legal matters. We consider these costs not representative of legal costs that we will incur from time to time in the ordinary course of our business.
(b) Represents acquisition-related expenses.
The following table reconciles Net cash used in operating activities to Free cash flow: Three Months Ended March 31, 2026 2025 Net cash used in operating activities$(29,421) $(13,059)Purchase of property, plant and equipment (7,511) (2,352)Free cash flow$(36,932) $(15,411)
As previously announced, Array will hold a teleconference on May 8, 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 first quarter operating results.
"Array is executing on its 2026 priorities," said Anthony Carlson, President and CEO. "Since standing-up Array just eight months ago, we remain laser-focused on optimizing our tower operations, including securing new colocation applications and delivering steady tower tenancy growth. And we are continuing to close our pending spectrum transactions and support T-Mobile's integration."
Highlights*
Optimizing tower operations Site rental revenues grew 92% year over year Excluding the impact of DISH, continued to grow tower tenancy and secure healthy application volume 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 * Comparisons are 1Q'25 to 1Q'26 unless otherwise noted.
Array reported total operating revenues from continuing operations of $52.0 million for the first quarter of 2026, versus $27.0 million for the same period one year ago. Net income attributable to Array shareholders and diluted earnings per share from continuing operations were $179.8 million and $2.08, respectively, for the first quarter of 2026 compared to $4.7 million and $0.05, respectively, in the same period one year ago.
On January 13, 2026, Array closed on the sale of certain 3.45 GHz and 700 MHz wireless spectrum licenses for $1,018.0 million and recorded a book gain of $156.6 million ($117.5 million net of tax expense) during the first quarter of 2026.
Pending transactions
Subsequent to the August 1, 2025 close of the sale of wireless operations, Array has reached additional agreements with T-Mobile for the sale of 700 MHz spectrum licenses, AWS and a portion of the 600 MHz put/call totaling $178 million in aggregate expected proceeds, subject to closing conditions and regulatory approvals. On May 5, 2026, Array closed on the sale of certain 700MHz wireless spectrum licenses related to this agreement for total proceeds of $74.8 million.
On October 17, 2024, Array, and certain subsidiaries of Array, entered into a License Purchase Agreement with Verizon Communications, Inc. (Verizon) to sell certain AWS, Cellular and PCS wireless spectrum licenses for a purchase price of $1,000.0 million, subject to receipt of regulatory approvals, and agreed to grant Verizon certain rights to lease such licenses prior to the transaction close. We expect this transaction to close in Q2/Q3 2026.
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. DISH Wireless has subsequently failed to make certain payments due to Array under their contractual commitment. Array believes that DISH Wireless' claim that its obligations under its Agreement with Array are excused is without merit.
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 May 8, 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
Unchanged
Adjusted OIBDA1 (Non-GAAP)
$50-$65
Unchanged
Adjusted EBITDA1 (Non-GAAP)
$200-$215
Unchanged
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
Three Months Ended
March 31, 2026
Year Ended
December 31, 2025
(Dollars in millions)
Net income from continuing operations (GAAP)
N/A
$180
$172
Add back:
Income tax expense (benefit)
N/A
52
(31)
Income before income taxes (GAAP)
$770-$785
$232
$141
Add back or deduct:
Interest expense
45
7
28
Depreciation, amortization and accretion expense
50
13
48
EBITDA (Non-GAAP)1
$865-$880
$252
$218
Add back or deduct:
Expenses related to strategic alternatives review
—
—
2
Loss on impairment of licenses
—
—
48
(Gain) loss on asset disposals, net
—
1
2
(Gain) loss on license sales and exchanges, net
(590)
(157)
(6)
Short-term imputed spectrum lease income
(75)
(34)
(69)
Adjusted EBITDA (Non-GAAP)1
$200-$215
$62
$194
Deduct:
Equity in earnings of unconsolidated entities
140
40
174
Interest and dividend income
10
4
19
Adjusted OIBDA (Non-GAAP)1
$50-$65
$18
$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 May 8, 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/890846584 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 4,452 cell towers in 19 states and enables the deployment of 5G and other wireless technologies throughout the country. As of March 31, 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 and the previously announced spectrum license sale to Verizon 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 revenues; the ability to attract people of outstanding talent; inability to protect Array's real estate rights, with respect to land leases; 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
3/31/2026
12/31/2025
9/30/2025
Capital expenditures from continuing operations (thousands)
$ 8,645
12,933
7,927
Owned towers
4,452
4,450
4,449
Number of colocations1
4,290
4,572
4,517
Tower tenancy rate2
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 collection on outstanding amounts.
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 collection on outstanding amounts. Normalized to exclude DISH, tenancy ratios would have been 0.95 and 0.94, respectively in prior periods.
Array Digital Infrastructure, Inc.
Consolidated Statement of Operations Highlights
(Unaudited)
Three Months Ended
March 31,
2026
2025
2026
vs. 2025
(Dollars and shares in thousands, except per share amounts)
Operating revenues
Site rental
$ 51,024
$ 26,595
92 %
Services
988
389
N/M
Total operating revenues
52,012
26,984
93 %
Operating expenses
Cost of operations (excluding Depreciation and accretion reported below)
21,609
16,290
33 %
Selling, general and administrative
12,745
29,202
(56) %
Depreciation and accretion
12,604
11,993
5 %
(Gain) loss on asset disposals, net
904
226
N/M
(Gain) loss on license sales and exchanges, net
(156,635)
(1,100)
N/M
Total operating expenses
(108,773)
56,611
N/M
Operating income (loss)
160,785
(29,627)
N/M
Other income (expense)
Equity in earnings of unconsolidated entities
40,408
35,927
12 %
Interest and dividend income
4,223
2,658
59 %
Interest expense
(7,180)
(3,667)
(96) %
Short-term imputed spectrum lease income
34,200
—
N/M
Other, net
(14)
—
N/M
Total other income
71,637
34,918
N/M
Income before income taxes
232,422
5,291
N/M
Income tax expense (benefit)
52,398
(192)
N/M
Net income from continuing operations
180,024
5,483
N/M
Less: Net income from continuing operations attributable to noncontrolling interests, net of tax
193
799
(76) %
Net income from continuing operations attributable to Array shareholders
179,831
4,684
N/M
Net income (loss) from discontinued operations
(2,036)
14,202
N/M
Less: Net income from discontinued operations attributable to noncontrolling interests, net of tax
—
639
N/M
Net income (loss) from discontinued operations attributable to Array shareholders
(2,036)
13,563
N/M
Net income
177,988
19,685
N/M
Less: Net income attributable to noncontrolling interests, net of tax
193
1,438
(87) %
Net income attributable to Array shareholders
$ 177,795
$ 18,247
N/M
Basic weighted average shares outstanding
86,416
85,137
2 %
Basic earnings per share from continuing operations attributable to Array shareholders
$ 2.08
$ 0.05
N/M
Basic earnings (loss) per share from discontinued operations attributable to Array shareholders
$ (0.02)
$ 0.16
N/M
Basic earnings per share attributable to Array shareholders
$ 2.06
$ 0.21
N/M
Diluted weighted average shares outstanding
86,488
88,166
(2) %
Diluted earnings per share from continuing operations attributable to Array shareholders
$ 2.08
$ 0.05
N/M
Diluted earnings (loss) per share from discontinued operations attributable to Array shareholders
$ (0.02)
$ 0.16
N/M
Diluted earnings per share attributable to Array shareholders
$ 2.06
$ 0.21
N/M
N/M - Percentage change not meaningful
Array Digital Infrastructure, Inc.
Consolidated Statement of Cash Flows
(Unaudited)
Three Months Ended
March 31,
2026
2025
(Dollars in thousands)
Cash flows from operating activities
Net income
$ 177,988
$ 19,685
Net income (loss) from discontinued operations
(2,036)
14,202
Net income from continuing operations
180,024
5,483
Add (deduct) adjustments to reconcile net income to net cash flows from operating activities
Depreciation and accretion
12,604
11,993
Bad debts expense
(264)
182
Stock-based compensation expense
227
1,036
Deferred income taxes, net
(62,256)
835
Equity in earnings of unconsolidated entities
(40,408)
(35,927)
Distributions from unconsolidated entities
18,373
11,254
(Gain) loss on asset disposals, net
904
226
(Gain) loss on license sales and exchanges, net
(156,635)
(1,100)
Other operating activities
(111)
32
Changes in assets and liabilities from operations
Accounts receivable
9,512
(12,408)
Accounts payable
(7,329)
1,248
Customer deposits and deferred revenues
(33,349)
(93)
Accrued taxes
112,171
1,000
Accrued interest
756
891
Other assets and liabilities
(9,741)
(55,869)
Net cash provided by (used in) operating activities - continuing operations
24,478
(71,217)
Net cash provided by (used in) operating activities - discontinued operations
(652)
230,490
Net cash provided by operating activities
23,826
159,273
Cash flows from investing activities
Cash paid for additions to property, plant and equipment
(13,822)
(7,513)
Cash paid for licenses
—
(2,072)
Cash received from divestitures
1,018,044
—
Net cash provided by (used in) investing activities - continuing operations
1,004,222
(9,585)
Net cash used in investing activities - discontinued operations
—
(64,337)
Net cash provided by (used in) investing activities
1,004,222
(73,922)
Cash flows from financing activities
Repayment of long-term debt
—
(5,000)
Tax withholdings, net of cash receipts, for stock-based compensation awards
(1,374)
(6,579)
Repurchase of Common Shares
—
(21,360)
Dividends paid to Array shareholders
(885,472)
—
Distributions to noncontrolling interests
(964)
(1,639)
Other financing activities
—
(589)
Net cash used in financing activities - continuing operations
(887,810)
(35,167)
Net cash used in financing activities - discontinued operations
—
(8,826)
Net cash used in financing activities
(887,810)
(43,993)
Net increase in cash, cash equivalents and restricted cash
140,238
41,358
Cash, cash equivalents and restricted cash
Beginning of period
113,400
159,142
End of period
$ 253,638
$ 200,500
Array Digital Infrastructure, Inc.
Consolidated Balance Sheet Highlights
(Unaudited)
ASSETS
March 31, 2026
December 31, 2025
(Dollars in thousands)
Current assets
Cash and cash equivalents
$ 253,638
$ 113,400
Accounts receivable, net
13,339
21,656
Prepaid expenses
3,273
3,216
Other current assets
3,813
6,515
Total current assets
274,063
144,787
Non-current assets held for sale
731,678
1,591,675
Licenses
1,642,039
1,642,187
Investments in unconsolidated entities
435,061
412,608
Property, plant and equipment, net
386,727
388,999
Operating lease right-of-use assets
473,383
472,995
Other assets and deferred charges
21,736
24,837
Total assets
$ 3,964,687
$ 4,678,088
Array Digital Infrastructure, Inc.
Consolidated Balance Sheet Highlights
(Unaudited)
LIABILITIES AND EQUITY
March 31, 2026
December 31, 2025
(Dollars in thousands, except per share amounts)
Current liabilities
Current portion of long-term debt
$ 6,094
$ 4,063
Accounts payable
32,495
38,395
Customer deposits and deferred revenues
45,213
85,945
Accrued taxes
131,650
16,884
Accrued compensation
558
4,322
Short-term operating lease liabilities
15,640
15,294
Current liabilities of discontinued operations
20,242
20,242
Other current liabilities
13,708
14,843
Total current liabilities
265,600
199,988
Deferred liabilities and credits
Deferred income tax liability, net
320,533
387,030
Long-term operating lease liabilities
511,639
509,876
Other deferred liabilities and credits
333,360
336,379
Long-term debt, net
668,499
670,258
Total equity
1,865,056
2,574,557
Total liabilities and equity
$ 3,964,687
$ 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
March 31,
2026
2025
(Dollars in thousands)
Net income from continuing operations (GAAP)
$ 180,024
$ 5,483
Add back or deduct:
Income tax expense (benefit)
52,398
(192)
Income before income taxes (GAAP)
232,422
5,291
Add back:
Interest expense
7,180
3,667
Depreciation and accretion expense
12,604
11,993
EBITDA (Non-GAAP)
252,206
20,951
Add back or deduct:
Expenses related to strategic alternatives review
187
1,145
(Gain) loss on asset disposals, net
904
226
(Gain) loss on license sales and exchanges, net
(156,635)
(1,100)
Short-term imputed spectrum lease income
(34,200)
—
Adjusted EBITDA (Non-GAAP)
62,462
21,222
Deduct:
Equity in earnings of unconsolidated entities
40,408
35,927
Interest and dividend income
4,223
2,658
Other, net
(14)
—
Adjusted OIBDA (Non-GAAP)
$ 17,845
$ (17,363)
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.
Three Months Ended
March 31, 2026
(Dollars in thousands)
Net income from continuing operations (GAAP)
$ 180,024
Add back or deduct:
Income tax expense
52,398
Cash paid for income taxes
(220)
Stock-based compensation expense
227
Short-term imputed spectrum lease income
(34,200)
Amortization of deferred debt charges
319
Equity in earnings of unconsolidated entities
(40,408)
Distributions from unconsolidated entities
18,373
(Gain) loss on license sales and exchanges, net
(156,635)
(Gain) loss on asset disposals, net
904
Depreciation and accretion
12,604
Expenses related to strategic alternatives review
187
Straight line and other non-cash revenue adjustments
(2,874)
Straight line expense adjustment
1,342
Maintenance and other capital expenditures
(1,388)
Adjusted Free Cash Flow from continuing operations (Non-GAAP)
Array Digital Infrastructure (AD - Free Report) came out with quarterly earnings of $2.08 per share, missing the Zacks Consensus Estimate of $5.74 per share. This compares to earnings of $0.21 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -63.76%. A quarter ago, it was expected that this wireless telecommunications service provider would post earnings of $0.32 per share when it actually produced earnings of $0.48, delivering a surprise of +50%.
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 $52.01 million for the quarter ended March 2026, missing the Zacks Consensus Estimate by 7.23%. This compares to year-ago revenues of $891 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 8.1% since the beginning of the year versus the S&P 500's gain of 7.2%.
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 mixed. 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 #3 (Hold) for the stock. So, the shares are expected to perform in line with 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 $0.60 on $56.1 million in revenues for the coming quarter and $6.84 on $204.63 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 bottom 29% 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.
Another stock from the same industry, Ondas Holdings Inc. (ONDS - Free Report) , has yet to report results for the quarter ended March 2026. The results are expected to be released on May 14.
This company is expected to post quarterly loss of $0.03 per share in its upcoming report, which represents a year-over-year change of +80%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
Ondas Holdings Inc.'s revenues are expected to be $39.57 million, up 831.1% from the year-ago quarter.
May 11, 2026 08:30 ET | Source: Array Technologies, Inc.
ALBUQUERQUE, N.M., May 11, 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 that members of its senior management team are scheduled to participate in the following investor conferences in May and June.
J.P. Morgan Global Technology, Media and Communications Conference in Boston
Attendees: Neil Manning, President & COO, Nick Strevel, Chief Product Officer, and Investor Relations
May 18, 2026
Neil Manning will be participating in a webcast fireside chat at the J.P. Morgan Global Technology, Media, and Communications Conference. A real-time audio webcast of the presentation can be accessed at https://ir.arraytechinc.com and a replay of the webcast will also be available for 30 days following the fireside chat.
ROTH Conference in London
Attendees: Kevin Hostetler, CEO, Neil Manning, President & COO, and Investor Relations
June 17, 2026
J.P. Morgan Natural Resources Conference in New York
Attendees: H. Keith Jennings, CFO, and Investor Relations
June 23, 2026
Management will be conducting meetings with investors in attendance at all conferences. Interested investors should contact their J.P. Morgan and ROTH representatives.
About ARRAY Technologies, Inc.
ARRAY Technologies, Inc. (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.
Investor Relations Contact:
ARRAY Technologies, Inc.
Investor Relations
505-437-0010 [email protected]
The firm is investigating whether the company’s representatives violated the securities laws or breached their fiduciary duties, causing investor lossesArray’s stock price has declined over 21% since August 2025 PHILADELPHIA, May 12, 2026 (GLOBE NEWSWIRE) -- Kaskela Law is investigating Array Digital Infrastructure, Inc. (NYSE: AD) (“Array”) on behalf of the company’s long-term shareholders.
Click here for additional information: https://kaskelalaw.com/case/array-digital/
Since August 2025, shares of Array’s common stock have declined in value from a trading price of over $70.00 per share to a current price of approximately $55.00 per share – a cumulative decline of over 21% in value.
“We are investigating Array on behalf of the company’s long-term shareholders to determine whether the company’s representatives violated the securities laws or breached their fiduciary duties in connection with recent corporate actions,” said attorney D. Seamus Kaskela, who is leading the firm’s investigation.
Array shareholders are encouraged to contact Kaskela Law (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 – 0750, or by email at [email protected] or [email protected], to discuss this investigation and their legal rights and options. Investors may also request additional information about this matter by clicking on the following link (or by copying and pasting the link into your browser):
https://kaskelalaw.com/case/array-digital/
ABOUT KASKELA LAW:
Kaskela Law exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about the firm, please visit our website (www.kaskelalaw.com) or contact us today at (888) 715 – 1740.
KASKELA LAW LLC
D. Seamus Kaskela, Esquire
Adrienne Bell, Esquire
18 Campus Boulevard, Suite 100
Newtown Square, PA 19073
(484) 229 – 0750
www.kaskelalaw.com
This communication may constitute attorney advertising in certain jurisdictions.
ARLINGTON, Va.--(BUSINESS WIRE)--The Department of War (DoW) Test Resource Management Center (TRMC) has awarded AeroVironment (“AV”) (NASDAQ: AVAV), the leader in all-domain defense technologies, a three-year, $43M contract to integrate its PANTHER (Phased Array Next-gen Telemetry Hypersonic Emitter Receiver) phased array antenna system on DoW SkyRange platforms. This program will enhance the nation's weapons testing capabilities and accelerate testing timelines by delivering rapidly deployable antenna systems to track multiple targets simultaneously.
PANTHER creates a scalable, reconfigurable antenna that supports multi-band, multi-target tracking for various missions and test scenarios.
Share “As near-peer threats evolve and global tensions rise, our country is developing the technologies required to maintain military dominance–and the next-generation tracking and telemetry tools to support them,” said Mary Clum, President of AV’s Space, Cyber & Directed Energy segment. “Alongside our customers at TRMC and across the War Department, AV is transforming the nation’s security testing infrastructure with defense tech innovation to address growing threats.”
PANTHER creates a scalable, reconfigurable antenna that supports multi-band, multi-target tracking for various missions and test scenarios. The all-digital framework facilitates autonomous operation along with remote access and control. PANTHER is agile, modular, and platform agnostic–delivering a significant increase in efficacy with a reduced footprint as compared to traditional parabolic dish systems currently used to test long-range missiles. Integrating PANTHER on DoW SkyRange platforms provides a mobile, rapidly deployable air-based solution to track multiple targets.
SkyRange is a DoW TRMC initiative that leverages high-altitude, long-endurance unmanned aircraft outfitted with advanced telemetry, communications, and data-collection payloads to create a more flexible, airborne test infrastructure.
“PANTHER provides a reliable, efficient method for gathering the critical data needed for long-range missile testing,” said Dr. Satya Ponnaluri, Vice President of Hypersonic RF and Radar at AV. “Ultimately, this multi-band, multi-target tracking technology will allow for more frequent testing cycles and faster weapons development timelines for our nation–neutralizing global threats and maintaining our strong national security posture.”
This program builds upon AV’s proven experience in delivering transformative testing capabilities–drastically reducing technical risks, development costs, and delivery timelines. AV continues to integrate PANTHER on DoW SkyRange platforms at GrandSKY in Grand Forks, North Dakota. The team is collaborating with the state of North Dakota and Bismarck State College to develop a certification program that will train technicians and build a highly-skilled workforce pipeline in support of PANTHER operation and maintenance at GrandSKY.
About AV
AV (NASDAQ: AVAV) is a defense technology leader delivering integrated capabilities across air, land, sea, space, and cyber. The Company develops and deploys autonomous systems, loitering munitions, counter-UAS technologies, space-based platforms, directed energy systems, and cyber and electronic warfare capabilities—built to meet the mission needs of today’s warfighter and tomorrow’s conflicts. At the core of these technologies lies AV_Halo™, a modular, mission-ready suite of AI-powered software tools that empowers warfighters and enables full-battlefield dominance: detect, decide, deliver. With a national manufacturing footprint and a deep innovation pipeline, AV delivers proven systems and future-defining capabilities at speed, scale, and operational relevance. For more information, visit www.avinc.com.
Safe Harbor Statement
Certain statements in this press release may constitute "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These statements are based on current expectations, forecasts, and assumptions that involve risks and uncertainties, which could cause actual results to differ materially. Factors that may cause such differences include, but are not limited to, our ability to perform under existing contracts and obtain new ones; regulatory changes; competitor activities; market growth; product development challenges; and general economic conditions. For a more detailed discussion of these risks, please refer to AeroVironment’s filings with the Securities and Exchange Commission. We undertake no obligation to update forward-looking statements as a result of new information or future events.
LOS ANGELES, May 14, 2026 (GLOBE NEWSWIRE) -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of long-term investors in Array Digital Infrastructure, Inc. (“Array Digital” or “the Company”) (NYSE: AD) for potential breaches of fiduciary duty on the part of its directors and management.
The investigation focuses on determining if the Array Digital board breached its fiduciary duties to shareholders, and if the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
If you are a shareholder, click here to participate.
We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at [email protected].
The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.
CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335 [email protected]
www.schallfirm.com
, /PRNewswire/ -- Stockholder litigation firm Kaskela Law announces that it is investigating Array Digital Infrastructure, Inc. (NYSE: AD) ("Array") on behalf of the company's investors.
Click here for additional information: https://kaskelalaw.com/case/array-digital/
The investigation seeks to determine whether Array and/or the company's officers and directors violated the securities laws or breached their fiduciary duties in connection with recent corporate actions.
Since August 2025, shares of Array's common stock have declined in value from a trading price of over $70.00 per share to a current price of approximately $55.00 per share – a cumulative decline of over 21% in value.
Array shareholders are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) at (484) 229 - 0750 for additional information about this investigation and their legal rights and options.
Alternatively, investors may submit their information to the firm by clicking on the following link (or if necessary, by copying and pasting the link into your browser):
https://kaskelalaw.com/case/array-digital/
ABOUT KASKELA LAW:
Kaskela Law LLC exclusively represents investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis, which means that the firm's clients never pay any out-of-pocket costs for legal representation. For additional information about Kaskela Law LLC, including the firm's recent notable recoveries for investors, please visit www.kaskelalaw.com.
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
([email protected])
Adrienne Bell, Esq.
([email protected])
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 229 - 0750
(888) 715 - 1740
www.kaskelalaw.com
This communication may constitute attorney advertising in certain jurisdictions.
Array Technologies, Inc. is rated a Buy due to strong industry tailwinds, record order backlog, and compelling valuation metrics. ARRY's $2.4B orderbook, 2x book-to-bill ratio, and 12.71% FCF yield signal robust near-term growth and value. The APA Solar acquisition expands ARRY's offerings, positioning it to benefit from data center-driven solar demand and fixed-tilt market share gains.
ALBUQUERQUE, N.M., June 01, 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 an enhanced version of its ARRAY OmniTrack® terrain-following tracker that offers increased flex capability of up to 2° between adjacent posts.
Board declares special dividend of $11.00 per share
, /PRNewswire/ -- Array Digital Infrastructure, Inc. (NYSE: AD) (ArraySM) today announced the successful closing of the previously announced agreement with Verizon (NYSE: VZ) to sell a portion of the Company's retained spectrum licenses for total consideration of $1.0 billion.
Additionally, certain spectrum sales to T-Mobile totaling $168M, primarily related to 700MHz and 600MHz, were completed in May.
These transactions further the objective announced on May 28, 2024, to opportunistically monetize remaining spectrum following the sale of the T-Mobile wireless operation which closed on August 1, 2025.
Considering the closing of the Verizon and other transactions alongside current cash on hand, the Array Board of Directors has declared a special cash dividend of $11.00 per Common Share and Series A Common Share. The special dividend is payable on June 25, 2026, to shareholders of record on June 11, 2026. While future dividend declarations are subject to the Board's discretion, the Company at this time does not anticipate that any additional dividends will be paid during 2026.
"We have made significant progress in our spectrum monetization efforts and are pleased with the value realized in this sale," said Anthony Carlson, Array President and CEO. "Further, as we have done with prior asset sale proceeds, we are returning value to our shareholders in the form of a special dividend."
The declaration of this special dividend is unrelated to the special committee of the Array Board of Directors' evaluation of the non-binding proposal, dated May 7, 2026, from Telephone and Data Systems, Inc. (NYSE: TDS) ("TDS") to acquire all of the outstanding common shares of Array not currently owned by TDS, which was previously announced on May 8, 2026, and the special committee has not made any decision with respect to such proposal at this time.
Note
Array currently expects that when 1099-DIVs are issued for 2026, this special dividend will be largely designated as an ordinary and qualified dividend, subject to the shareholder's holding period requirements.
Advisors
Citigroup Global Markets Inc. served as lead financial advisor and Centerview Partners LLC served as financial advisor to Telephone and Data Systems, Inc. (TDS) in connection with the Verizon transaction. TD Securities (USA) LLC and Wells Fargo also served as financial advisors to TDS. Wilkinson Barker Knauer, LLP served as lead transactional and FCC regulatory counsel to both TDS and Array. In addition, Clifford Chance LLP served as regulatory advisor to both TDS and Array and Sidley Austin LLP served as legal advisor to TDS. PJT Partners LP served as financial advisor and Cravath, Swaine & Moore LLP served as legal advisor to the independent directors of Array.
About Array
Array Digital Infrastructure, Inc. 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 Array, visit: investors.arrayinc.com
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. The forward-looking statements include the statement regarding Array's expectation regarding the designation of the special dividend on 1099-DIV. This statement relies on the company's current assumptions and involves uncertainties that could cause a different result. The ultimate designation of the special dividend depends on several factors including Array's 2026 taxable income and the amount and timing of any additional special dividends issued by Array in 2026. The forward-looking statements also include the statement that the Company at this time does not anticipate that any additional dividends will be paid during 2026. The amount and timing of any dividends is subject to business, economic and other relevant factors.
It doesn't matter your age or experience: taking full advantage of the stock market and investing with confidence are common goals for all investors. Luckily, Zacks Premium offers several different ways to do both.
Featuring daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, the research service can help you become a smarter, more self-assured investor.
Zacks Premium includes access to the Zacks Style Scores as well.
What are the Zacks Style Scores? The Zacks Style Scores is a unique set of guidelines that rates stocks based on three popular investing types, and were developed as complementary indicators for the Zacks Rank. This combination helps investors choose securities with the highest chances of beating the market over the next 30 days.
Each stock is assigned a rating of A, B, C, D, or F based on their value, growth, and momentum characteristics. Just like in school, an A is better than a B, a B is better than a C, and so on -- that means the better the score, the better chance the stock will outperform.
The Style Scores are broken down into four categories:
Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.
Growth ScoreGrowth investors are more concerned with a stock's future prospects, and the overall financial health and strength of a company. Thus, the Growth Style Score analyzes characteristics like projected and historic earnings, sales, and cash flow to find stocks that will see sustainable growth over time.
Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.
VGM ScoreWhat if you like to use all three types of investing? The VGM Score is a combination of all Style Scores, making it one of the most comprehensive indicators to use with the Zacks Rank. It rates each stock on their combined weighted styles, which helps narrow down the companies with the most attractive value, best growth forecast, and most promising momentum.
How Style Scores Work with the Zacks Rank The Zacks Rank, which is a proprietary stock-rating model, employs earnings estimate revisions, or changes to a company's earnings expectations, to make building a winning portfolio easier.
Investors can count on the Zacks Rank's success, with #1 (Strong Buy) stocks producing an unmatched +23.7% average annual return since 1988, more than double the S&P 500's performance. But the model rates a large number of stocks, and there are over 200 companies with a Strong Buy rank, plus another 600 with a #2 (Buy) rank, on any given day.
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That's where the Style Scores come in.
You want to make sure you're buying stocks with the highest likelihood of success, and to do that, you'll need to pick stocks with a Zacks Rank #1 or #2 that also have Style Scores of A or B. If you like a stock that only has a #3 (Hold) rank, it should also have Scores of A or B to guarantee as much upside potential as possible.
As mentioned above, the Scores are designed to work with the Zacks Rank, so any change to a company's earnings outlook should be a deciding factor when picking which stocks to buy.
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Stock to Watch: Array Technologies, Inc. (ARRY - Free Report) Boulder, CO-based Array BioPharma is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs for treating cancer and other high-burden diseases. The company has one marketed combination therapy in its portfolio – Braftovi (encorafenib) plus Mektovi (binimetinib). The therapy is approved for treating unresectable or metastatic melanoma with a BRAF V600E or V600K mutation. The company is also conducting label expansion studies for the combination therapy.
ARRY is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.
It also boasts a Value Style Score of B thanks to attractive valuation metrics like a forward P/E ratio of 11.3; value investors should take notice.
For fiscal 2026, four analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.08 to $0.72 per share. ARRY boasts an average earnings surprise of +87.3%.
With a solid Zacks Rank and top-tier Value and VGM Style Scores, ARRY should be on investors' short list.
ALBUQUERQUE, N.M., June 11, 2026 (GLOBE NEWSWIRE) -- ARRAY Technologies, Inc. (NASDAQ: ARRY) (“ARRAY” or the “Company”), a New Mexico-based leading global provider of solar tracking technology and fixed-tilt products, foundation solutions, software systems and services, announced today that it has reached a substantial milestone, surpassing 100 GW of solar tracker product deliveries across 30+ countries worldwide.
