Array Technologies Inc. (ARRY) Misses Q1 EPS by 1c, Revenue Beats

Array Technologies Inc. (NASDAQ: ARRY) reported Q1 EPS of $0.19, $0.01 worse than the analyst estimate of $0.20. Revenue for the quarter came in at $245.9 million versus the consensus estimate of $240.83 million.

Full Year 2021 Guidance Update

“Given the continuing increases we are seeing in steel and freight costs as well as our ongoing review of open contracts to assess what costs we will pass on to customers, we are not able to affirm our previously provided guidance for the full year. We expect to update our guidance once we have completed the review of all of our open purchase orders and commodity and shipping prices remain stable for a long enough period of time to give us confidence in using them to develop a forecast for the remainder of the year,” said Nipul Patel, Chief Financial Officer of Array Technologies.

For earnings history and earnings-related data on Array Technologies Inc. (ARRY) click here.

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