Array Technologies Inc. (ARRY) witnessed a sharp decline in its stock price during the after-hours trading session on Thursday. The solar tracking solutions provider's shares plummeted 11.76% following the release of its fourth-quarter 2024 earnings and full-year 2025 guidance, which fell short of market expectations.
For the fourth quarter of 2024, Array Technologies reported revenue of $275.2 million, beating analysts' estimates of $268.5 million. However, the company posted a net loss of $74 million and an adjusted EBITDA of $45.2 million, missing the consensus estimate of $47.6 million.
Furthermore, Array Technologies provided a disappointing outlook for the full year 2025, guiding for revenue in the range of $260-$270 million and adjusted EBITDA of $180-$200 million. These projections were below Wall Street's expectations, indicating potential challenges ahead for the company's growth and profitability.
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