Array Technologies Full Year 2023 Earnings: Beats Expectations

Simply Wall St.02-29

Array Technologies (NASDAQ:ARRY) Full Year 2023 Results Key Financial Results Revenue: US$1.58b (down 3.7% from FY 2022). Net income: US$85.5m (up from US$43.6m loss in FY 2022). Profit margin: 5.4% ...

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The move to profitability was driven by lower expenses.NasdaqGM:ARRY Earnings and Revenue Growth February 29th 2024. All figures shown in the chart above are for the trailing 12 month  period. Revenue exceeded analyst estimates by 1.6%. Earnings per share  also surpassed analyst estimates by 14%.Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Electrical industry in the US.The company's shares are up 2.3% from a week ago.It is worth noting though that we have found 1 warning sign for Array Technologies that you need to take into consideration.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"ARRY":"Array Technologies Inc."},"translate_title":"Array Technologies 2023年全年收益：超出预期","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ARRY":0.9},"content_text":"Array Technologies (NASDAQ:ARRY) Full Year 2023 Results\nKey Financial Results\n\nRevenue: US$1.58b (down 3.7% from FY 2022).\nNet income: US$85.5m (up from US$43.6m loss in FY 2022).\nProfit margin: 5.4% (up from net loss in FY 2022). The move to profitability was driven by lower expenses.\nEPS: US$0.57 (up from US$0.29 loss in FY 2022).\n\n\n\n\n  NasdaqGM:ARRY Earnings and Revenue Growth February 29th 2024\n \n\nAll figures shown in the chart above are for the trailing 12 month (TTM) period\nArray Technologies Revenues and Earnings Beat Expectations\n Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 14%. \n Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 7.7% growth forecast for the Electrical industry in the US. \nPerformance of the American Electrical industry.\n The company's shares are up 2.3% from a week ago. \nRisk Analysis\n It is worth noting though that we have found 1 warning sign for Array Technologies that you need to take into consideration. \nHave feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. 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