Array Technologies, Inc.

Array Technologies, Inc. and Shoals Technologies Group, Inc. announced a definitive agreement to combine in a stock-for-stock merger, creating an integrated energy infrastructure platform. Shoals shareholders will receive 1.6931 shares of Array common stock for each Shoals share. The combined company is projected to have 2027 revenues between $2.2 billion and $2.4 billion and aims to achieve over $100 million in annual Adjusted EBITDA synergies within three years. Brandon Moss, Shoals' CEO, will lead the combined entity, while Kevin Hostetler, Array's CEO, will serve as Special Advisor. Array also committed to redeeming $317.5 million of its Series A Perpetual Preferred Stock as part of the transaction.

Array Technologies reported a decrease in revenue and a net loss to common stockholders for the first half of 2026. Revenue for the six months ended June 30, 2026, was $565.477 million, down from $664.606 million in the prior year period, resulting in a net loss to common stockholders of $5.102 million. Despite the decline in top-line performance, the company saw a significant increase in net cash provided by operating activities, reaching $91.858 million, and an increase in cash and cash equivalents to $307.302 million. The company also highlighted the acquisition of APA Solar, LLC in August 2025, which expanded its operational footprint in the solar energy market.

Array Technologies announced its second quarter 2026 financial results, reporting $342.1 million in revenue and $63.3 million in Adjusted EBITDA. The company achieved a record orderbook of $2.5 billion, marking a 37% year-over-year increase, and surpassed 100 gigawatts of cumulative tracker product shipments. Following strong first-half performance, Array Technologies updated its full-year 2026 guidance, raising the lower end of its Adjusted EBITDA and Adjusted net income per common share ranges. The company also highlighted new product launches and the pending acquisition of Affordable Wire Management.

Array Technologies, Inc. announced the launch of ARRAY Atlas, a new suite of foundation-to-tracker solutions. Designed for ARRAY trackers and APA foundations, Atlas aims to enhance technical interoperability, offering greater installation flexibility, procurement resilience, and project certainty across various soil conditions. This new product suite targets the over $1 billion annual tracker foundation market, providing a cost-competitive and optimized solution. The launch follows Array's 2025 acquisition of APA Solar, combining their expertise to simplify project execution.

Array Technologies announced a new 60-degree variant of its DuraTrack platform, designed to effectively mitigate hail risk and reduce capital expenditures. This new solar tracker builds on the platform's reliability and strengthens Array's portfolio, addressing the growing demand for solutions that balance project economics with extreme weather resilience. The system combines a 60-degree stow angle with SmarTrack software, offering an effective balance of cost, risk mitigation, and performance for moderate hail risk regions. It will be available for quoting in 2026, with deliveries expected in mid-2027.

Array Technologies announced it will host an APA Investor Technology Showcase on August 20, 2026, at 9:00 a.m. ET. The event, held approximately one year after the APA Solar acquisition, will feature presentations by CEO Kevin Hostetler and leadership teams, covering the Company's Balance of System strategy, an APA deep dive, innovation roadmap, and growth opportunities. In-person attendees will also receive a manufacturing facility tour and product demonstrations at APA's headquarters in Ohio, with advance registration required.

Array Technologies, Inc. announced a definitive agreement to acquire Affordable Wire Management, LLC (AWM) for approximately $203 million. This acquisition aims to expand Array's balance-of-system product portfolio, adding solutions for solar wire management, cable protection, and battery energy storage systems (BESS), and creating new growth opportunities in BESS and datacenter markets. The deal, valued at 8.8x AWM's trailing twelve-month EBITDA, is expected to be high single-digit accretive to Array's Adjusted EPS in the first year before synergies and is anticipated to close in Q3 2026.

Array Technologies, Inc. announced it will release its second quarter 2026 financial results after the market closes on Wednesday, August 5, 2026. This will be followed by a conference call at 5:00 p.m. Eastern Time on the same day. Investors can access the call via phone or a live webcast on the company's investor relations website. Replays of the call will be available telephonically and online for a limited period.

ARRAY Technologies announced the launch of DuraTrack D2S", an advanced solar tracker designed for the two-row format popular in international markets. This new product aims to reduce capital expenditure through faster installation and improved terrain adaptability, while also enhancing energy yield by up to 4% and minimizing operating costs. DuraTrack D2S incorporates key features like Wind XP" passive wind stow technology and OmniTrack® terrain-following capability, and is launching initially in the EMEA market with its first commercial installation in Spain in Q1 2026.

Array Technologies, Inc. announced an enhanced version of its OmniTrack® terrain-following tracker, now offering increased flex capability of up to 2° between adjacent posts, doubling its previous capability. This improvement provides greater design flexibility, aiming to reduce construction costs, accelerate deployment, and minimize site grading. The updated OmniTrack, which is already the highest share of Array's orderbook, is available to quote now and expected to ship in Q3 2026, offering significant benefits for challenging project sites.