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Albuquerque-based Array Technologies reports positive Q2 earnings, beating expectations
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Albuquerque-based Array Technologies reported Thursday a 20% jump in revenue from the previous quarter, beating analyst expectations.
In an earnings call, company officials reported $362.2 million in revenue for the quarter — about $73 million more than analysts estimated — despite economic uncertainty with the Trump administration’s “One Big Beautiful Bill,” rising commodity prices and tariffs. The company, which manufactures solar trackers, posted $302.4 million in revenue in the first quarter.
“To address some of these new regulatory challenges, Array will continue to drive enhanced customer engagement, operational excellence and resiliency and continued expansion of our domestic supply chain,” Array CEO Kevin Hostetler said.
In the coming weeks, Array will close a $179 million deal to acquire APA Solar, an Ohio-based company that produces solar racks and other foundation infrastructure. Hostetler said the transaction, announced in June, will mark the company’s first step in expanding its products past tracker components.
Array Chief Financial Officer Keith Jennings said, given the company’s strong performance in the first half of this fiscal year, Array has raised its revenue outlook from a high of $1.15 billion to $1.22 billion for the remainder of 2025.
“Our results and guidance reflect the strength of our strategy, our team, and our ability to perform in dynamic market conditions,” Jennings said.
Array shares closed at $5.84 Thursday — up 1.92% on the day but down 13.35% year to date.
