Array Technologies Inc (OQ:ARRY)

Business Focus: Renewable Energy Equipment & Services

Sector:  Energy Industry:  Renewable Energy Equipment & Services
See Regulatory Filings on SEC
Company Contact
Address: 3901 Midway Place Ne
Tel: N/A
IR: See website
Key People
Kevin George Hostetler
Chief Executive Officer, Director
Kurt R. Wood
Chief Financial Officer
Neil Manning
Chief Operating Officer
Terrance L. Collins
Chief Human Resource Officer
Thierry Marin-Martinod
Chief Technology Officer
Erica Brinker
Chief Commercial Officer
Tyson K. Hottinger
Chief Legal Officer
Travis Rose
Chief Revenue Officer
Business Overview
Array Technologies, Inc. is a provider of utility-scale solar tracker technology. The Company manufactures ground-mounting tracking systems used in solar energy projects at utility scale. Its segments include Array Legacy Operations and STI Operations. Its products are a portfolio of integrated solar tracking systems comprised of steel supports, electric motors, gearboxes and electronic controllers commonly referred to as a single-axis tracker. Its tracker uses a patented design that allows one motor to drive multiple rows of solar panels. It sells its products to engineering, procurement and construction firms that build solar energy projects and to large solar developers, independent power producers and utilities. Its products and services include Tracker Systems, DuraTrack HZ v3, Array STI H250, Array OmniTrack and SmarTrack Software. Its DuraTrack HZ v3 is a single axis tracker and incorporates features, such as a patented single bolt per module mounting system.
Financial Overview
For the fiscal year ended 31 December 2023, Array Technologies Inc revenues decreased 4% to $1.58B. Net income applicable to common stockholders totaled $85.5M vs. loss of $43.6M. Revenues reflect Array segment decrease of 7% to $1.17B, United States segment decrease of 9% to $1.17B, Rest of the world segment decrease of 52% to $32.5M. Net Income reflects Total Amort of Intangibles-excl Goodwill decrease of 63% to $36.7M (expense).
Employees: 1,028 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $2,847M as of Dec 31, 2023
Annual revenue (TTM): $1,577M as of Dec 31, 2023
EBITDA (TTM): $268.99M as of Dec 31, 2023
Net annual income (TTM): $85.55M as of Dec 31, 2023
Free cash flow (TTM): $214.97M as of Dec 31, 2023
Net Debt Last Fiscal Year: $433.34M as of Dec 31, 2023
Shares outstanding: 151,288,159 as of Feb 23, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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