- Array Technologies ( NASDAQ: ARRY ) has reported prelim revenues of $1.62B-$1.64B ( consensus : $1.57B) for full year 2022, which is "above the high end of its full year guidance range."
- Revenue represents organic growth of ~50%.
- Gross margin grew from 9.7% in 2021 to between 13.5%-14.0% in 2022, with a Q4 margin of 19% to 20% which is well within the firm's guidance.
- Adjusted EBITDA is expected to nearly triple from $43M in 2021 to between $126M-$129M driven by the improved gross margin. The company is expected incur earnings of $0.34-$0.37 per share (consensus: $0.36) on an adjusted basis.
- Array ( ARRY ) plans to release its full fourth quarter and full year 2022 financial results after the market close on March 15, 2023.
- For 2023, it project revenue in the range of $1.8B-$1.95B (consensus: $1.91B)and adj. EPS of $0.75 to $0.85 (consensus: $0.96).
- Shares gained 1.48% in Thursday's premarket hours
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Array Technologies guides 2022 revenues above estimates