Quarterly ResultMay 6, 2026, 04:07 PM
Array Technologies Q1 Adj. EPS $0.06; Record $2.4B Orderbook
AI Summary
Array Technologies reported its first quarter 2026 financial results, with revenue of $223.4 million and Adjusted EBITDA of $28.8 million, exceeding internal expectations. The company achieved a record total of $2.4 billion in executed contracts and awarded orders, alongside a 2x book-to-bill ratio for the quarter. Array Technologies also introduced DuraTrack D2S, a new dual-row tracker solution for international markets, and reaffirmed its full-year 2026 financial guidance.
Key Highlights
- Record executed contracts and awarded orders reached $2.4 billion as of March 31, 2026.
- Achieved a 2x book-to-bill ratio for the quarter, with a trailing twelve-month book-to-bill of 1.3x.
- First quarter 2026 revenue was $223.4 million.
- Adjusted gross margin for Q1 2026 improved to 30.7% from 26.5% in Q1 2025.
- Adjusted EBITDA for Q1 2026 was $28.8 million.
- Adjusted net income per diluted common share was $0.06 for Q1 2026.
- Introduced DuraTrack D2S, a new dual-row tracker solution for international markets.
- Reaffirmed full-year 2026 revenue guidance of $1.4 billion to $1.5 billion.