Array Applied sciences Inventory Drops After Combined This autumn Outcomes, Weak Ahead Steering – Array Applied sciences (NASDAQ:ARRY)

Array Applied sciences, Inc. ARRY reported its fourth-quarter outcomes after Thursday’s closing bell. Here is a have a look at the small print from the quarter. 

The Particulars: Array Applied sciences reported quarterly earnings of 16 cents per share, which missed the analyst consensus estimate of 17 cents. Quarterly income got here in at $275.23 million which beat the analyst consensus estimate of $268.47 million and is a lower from income of $341.62 million from the identical interval final yr.

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“ARRAY delivered sturdy fourth quarter and full yr 2024 outcomes, we exceeded the mid-point of our fourth quarter income steerage and achieved file gross margin on the complete yr. Our ongoing concentrate on operational execution continues to translate into strong profitability and wholesome money circulate. We completed 2024 with an orderbook of $2 billion, representing 10% year-on-year progress,” stated CEO Kevin G. Hostetler.

Outlook: Array Applied sciences sees first-quarter gross sales of $260 million to $270 million, versus the $218.65 million analyst estimate. The corporate sees fiscal 2025 adjusted earnings of 60 cents to 70 cents per share, versus the 79 cent estimate and gross sales of $1.05 billion to $1.15 billion, versus the $1.13 billion estimate.

ARRY Value Motion: In accordance with information from Benzinga Professional, Array Applied sciences shares had been down 12.21% after hours at $5.75 on Thursday.  

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