Array Technologies Inc. (ARRY) shares plummeted 23% during Wednesday's extended trading session following the release of the company's fourth-quarter and full-year 2025 financial results.
The solar tracker manufacturer reported a quarterly net loss to common shareholders of $161.2 million. The loss included significant one-time charges: a $29.5 million inventory valuation charge related to phasing out non-compatible product inventory and a substantial $102.6 million non-cash goodwill impairment charge tied to its 2022 acquisition of STI.
Furthermore, the company issued forward guidance for fiscal 2026 that fell short of analyst expectations. Array Technologies expects adjusted earnings per share of 65 cents to 75 cents, below the consensus estimate of 86 cents, contributing to the negative market reaction despite the company reporting a record orderbook of $2.2 billion.