UPDATE: Array Technologies Q3 Adj EPS $0.21 Beats $0.12 Estimate, Sales $350.44M Miss $371.14M Estimate
Portfolio Pulse from Benzinga Newsdesk
Array Technologies (NASDAQ:ARRY) reported Q3 earnings of $0.21 per share, beating the analyst consensus estimate of $0.12 by 75%. However, the company's quarterly sales of $350.44 million missed the analyst consensus estimate of $371.14 million by 5.58%. This represents a 16.67% increase in earnings but a 31.96% decrease in sales compared to the same period last year.
November 07, 2023 | 10:50 pm
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NEUTRAL IMPACT
Array Technologies reported a Q3 earnings beat but missed on sales. While earnings per share increased by 75%, sales decreased by 31.96% compared to the same period last year.
Array Technologies reported a strong earnings beat, which could positively impact the stock. However, the significant miss on sales could offset this positive impact, leading to a neutral short-term price direction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100