Array Technologies Inc. (ARRY) witnessed a steep 9.77% decline in its stock price during the after-hours trading session on Thursday, as the solar tracking solutions provider's weak guidance for 2025 overshadowed its better-than-expected fourth-quarter results.
For the fourth quarter of 2024, Array Technologies reported revenue of $275.2 million, narrowly 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.
Weighing heavily on the stock was Array Technologies' disappointing outlook for the full year 2025. The company guided for revenue in the range of $260-$270 million and adjusted EBITDA of $180-$200 million, both falling short of Wall Street's expectations. This weak guidance signals potential challenges ahead for the company's growth and profitability, raising concerns among investors.
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