| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 223.41 | 26.1% |
| Total Income | 223.41 | 26.1% |
| Expenditure | 216.30 | 21.4% |
| PBT | 4.13 | 82.3% |
| Net Profit | 2.00 | 88.1% |
| OPM | 3.18% | 5.84pp |
| NPM | 0.89% | 4.64pp |
| EPS | -0.09 | 550.0% |
Array Technologies Reports Q1 2026 Results; Orderbook at $2.4B
07 May 2026 · 7 May, 1:51 am
Summary
Array Technologies reported its financial results for the first quarter ended March 31, 2026. The company achieved a record orderbook of $2.4 billion and a 2x book-to-bill ratio. First quarter revenue was $223.4 million. Adjusted EBITDA for the quarter was $28.8 million. The company is reaffirming its full year 2026 revenue guidance and introducing a new dual-row tracker solution for international markets.
Key Highlights
- 1
Array Technologies achieved a record orderbook of $2.4 billion as of March 31, 2026.
- 2
The company achieved a 2x book-to-bill ratio in Q1 2026, with approximately a 50% increase in the APA orderbook.
- 3
First quarter revenue totaled $223.4 million.
- 4
The adjusted EBITDA for the first quarter was $28.8 million.
- 5
The company is reaffirming its full year 2026 revenue guidance to be in the range of $1.4 billion to $1.5 billion.
- 6
The company is introducing DuraTrack D2S, a new dual-row tracker solution for international markets.
Management Comments
Kevin G. Hostetler
“ARRAY began 2026 with strong performance, delivering revenue and Adjusted EBITDA(1) above the expectations we set on our last earnings call. We delivered another 2x book-to-bill quarter, closing the period at a new record orderbook of $2.4 billion. Orderbook growth continues to be enabled by our traction with our new product offerings like OmniTrackTMand investment in our software and services businesses. We remain focused on high-quality domestic opportunities while pursuing disciplined international expansion, and our momentum this quarter reflected strength both domestically and abroad.” Mr. Hostetler continued, “The integration of APA continues to progress very well, and we opened a new APA headquarters to centralize our team, accelerate collaboration, and support a research and training center alongside a 5-acre solar innovation site. This new space will also house the APA Foundations Center of Excellence, enabling foundation offerings integrated with ARRAY tracking technology. Finally, I’m excited to introduce DuraTrack D2S, our next-generation dual-row tracker for key international markets, which combines patented passive wind stow technology, terrain adaptability, and optimized control through SmarTrack® into a single flexible platform. As we move through 2026, we will continue updating stakeholders on our progress against our strategic priorities - investing for the future to support margin resilience and scale, while driving commercial excellence and advancing our global expansion.”
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