Array Technologies Q1 2024 Adj EPS $(0.07) Misses $(0.03) Estimate, Sales $153.400M Beat $140.106M Estimate
Portfolio Pulse from Benzinga Newsdesk
Array Technologies (NASDAQ:ARRY) reported Q1 2024 earnings with an adjusted EPS of $(0.07), missing the $(0.03) estimate, and sales of $153.4M, surpassing the $140.106M estimate. This represents a 59.29% decrease in sales compared to the same period last year.

May 09, 2024 | 8:11 pm
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NEGATIVE IMPACT
Array Technologies reported a larger than expected loss per share but exceeded sales forecasts for Q1 2024, with a significant year-over-year decrease in sales.
The miss on the EPS estimate is likely to negatively impact investor sentiment in the short term, despite the sales beat. The significant decrease in sales year-over-year further compounds concerns about the company's growth trajectory and profitability, likely leading to a negative short-term price movement.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100