Array Technologies, Inc. has reported Q4 ’23 revenue of USD 341.6 million and a net income of USD 6.0 million, attributed to cost initiatives, non-tracker revenues, and 45X benefit recognition. For full year 2023, it reported revenues of USD 1,576.6 million and a net income of USD 85.5 million. The company claims it US pipeline has tripled since the Q2 2023, and it has orderbook worth USD 1.8 billion fueled by USD 600 million in Q4 2023 bookings. The company secured a 45X manufacturing credit benefit split with torque tube suppliers for 2023 and 2024. The company forecasts USD 1.25 billion to USD 1.40 billion in revenues and an EBITDA range of USD 285 million to USD 315 million by the end of 2024.
Array Technologies reports strong Q4 and FY2023 results
Array Technologies forecasts a revenue outlook of USD 1.25 billion to USD 1.40 billion, with adjusted EBITDA expected to range from USD 285 million to USD 315 million. (Image Credit: Array Technologies).
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