Array Technologies Inc. (NASDAQ: ARRY) shares are soaring 12.14% in pre-market trading on Thursday, following the release of its impressive third-quarter 2025 financial results and upgraded full-year guidance. The solar tracking systems manufacturer reported figures that significantly exceeded analyst expectations, showcasing the company's strong performance and market position.

Array Technologies reported Q3 revenue of $393.5 million, a 70% increase year-over-year and far surpassing the analyst estimate of $309.7 million. The company's adjusted earnings per share came in at $0.30, beating the estimated $0.20. Additionally, Array Technologies posted an adjusted EBITDA of $72.2 million, well above the expected $56.5 million. The strong financial performance was further underscored by a substantial $1.9 billion in total executed contracts and awarded orders as of September 30, indicating robust demand for the company's products.

In light of the strong results, Array Technologies has upgraded its full-year 2025 guidance. The company now expects revenue between $1.25 billion and $1.28 billion, with adjusted EBITDA ranging from $185 million to $195 million. This optimistic outlook includes roughly $50 million contribution from APA Solar, which was acquired in August and contributed $16.9 million to Q3 revenue. The acquisition has further enhanced Array's product offerings and market position. In response to the positive news, analysts have raised their price targets, with TD Cowen increasing its target to $10 from $8, and Jefferies raising its target to $11 from $10, adding to the bullish sentiment surrounding the stock.