Array Technologies: Q2 Earnings Insights

Array Technologies: Q2 Earnings Insights

 

Array Technologies ARRY reported its Q2 earnings results on Tuesday, August 9, 2022 at 04:00 PM.

Here's what investors need to know about the announcement.

Earnings

Array Technologies beat estimated earnings by 200.0%, reporting an EPS of $0.09 versus an estimate of $0.03.

Revenue was up $222.13 million from the same period last year.

Past Earnings Performance

Last quarter the company beat on EPS by $0.04 which was followed by a 7.23% drop in the share price the next day.

Here's a look at Array Technologies's past performance:

 

Quarter Q1 2022 Q4 2021 Q3 2021 Q2 2021
EPS Estimate -0.06 -0.03 -0.05 0.03
EPS Actual -0.02 -0.06 -0.07 0.07
Revenue Estimate 271.60M 213.82M 203.45M 233.24M
Revenue Actual 300.59M 219.88M 192.07M 202.80M

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Guidance

Array Technologies management provided guidance for FY 2022, expecting earnings between $0.25 and $0.35 per share.

To track all earnings releases for Array Technologies visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Posted In: BZI-RecapsEarnings