Stock Track | Array Technologies Plunges 7.4% on Q3 Revenue Miss Despite EPS Beat

Stock Track11-08

Array Technologies Inc. (NASDAQ: ARRY), a leading manufacturer of solar tracking systems, saw its stock plunge 7.42% on November 7, 2024, following the release of its third-quarter 2024 financial results.

The company reported adjusted earnings per share (EPS) of $0.17, beating analyst estimates of $0.14. However, revenue for the quarter came in at $231.4 million, slightly missing the consensus estimate of $232.6 million.

Despite the strong earnings performance, investors appeared to be concerned about the revenue miss and the company's gross margin, which stood at 33.8% in Q3. Array Technologies also reported record orders of $2 billion during the quarter, indicating robust demand for its products.

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(NASDAQ: ARRY), a leading manufacturer of solar tracking systems, saw its stock plunge 7.42% on November 7, 2024, following the release of its third-quarter 2024 financial ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ARRY","symbol_name":"Array Technologies Inc.","start_time":0,"source_url":"","article_id":"1180817653","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1180817653","pubTimestamp":1731028390,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Array Technologies Inc. , a leading manufacturer of solar tracking systems, saw its stock plunge 7.42% on November 7, 2024, following the release of its third-quarter 2024 financial results.The company reported adjusted earnings per share  of $0.17, beating analyst estimates of $0.14. 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