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What's in Store for Array Technologies (ARRY) in Q1 Earnings?
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Array Technologies, Inc. (ARRY - Free Report) is slated to report first-quarter 2023 results on May 9, after market close.
In the last reported quarter, the company delivered an earnings surprise of 11.11%. It also delivered an average earnings surprise of 64.39% in the trailing four quarters.
Factors to Note
A solid increase in average selling price of its products, particularly DuraTrack, is likely to have boosted ARRY’s first-quarter revenues. Increased megawatts shipment (buoyed by growing solar demand across the United States), coupled with benefits from the acquisition of the STI Norland, is expected to have added an impetus to the top-line performance.
However, slower conversion of projects owing to low availability of modules might have an adverse impact on the company’s first-quarter results.
The Zacks Consensus Estimate for revenues is pegged at $322.4 million, indicating a 7.3% improvement from the year-ago quarter’s reported figure.
Factors like favorable revenue growth and strong margin performance in its FTI segment are expected to have boosted ARRY’s bottom-line performance.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 3 cents per share, implying an improvement from the year-ago quarter’s reported loss of 2 cents per share.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Array Technologies this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: ARRY’s Earnings ESP is -12.90%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Array Technologies carries a Zacks Rank #3 at present.
Stocks to Consider
Here are two stocks from the same industry with the right combination of elements to come up with an earnings beat this reporting cycle:
Canadian Solar (CSIQ - Free Report) has an Earnings ESP of +51.58% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for first-quarter sales is pegged at $1.88 billion up fgrom The same for earnings stands at 48 cents per share. CSIQ delivered an average earnings surprise of 164.30% in the trailing four quarters.
FTC Solar (FTCI - Free Report) has an Earnings ESP of +36.84% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for first-quarter sales is pegged at $38.5 million. The same for earnings is pinned at a loss of 10 cents per share.
FTCI delivered an earnings surprise of 77.27% in the last reported quarter.
A Recent Solar Release
First Solar, Inc. (FSLR - Free Report) reported first-quarter 2023 earnings of 40 cents per share, which missed the Zacks Consensus Estimate of 99 cents by 59.6%. However, the bottom line improved significantly from the prior-year quarter’s reported loss of 41 cents per share.
Net sales totaled $548 million, which missed the Zacks Consensus Estimate of $724 million by 23.7%. However, the top line improved 49.4% from the year-ago quarter’s $367 million.
Image: Bigstock
What's in Store for Array Technologies (ARRY) in Q1 Earnings?
Array Technologies, Inc. (ARRY - Free Report) is slated to report first-quarter 2023 results on May 9, after market close.
In the last reported quarter, the company delivered an earnings surprise of 11.11%. It also delivered an average earnings surprise of 64.39% in the trailing four quarters.
Factors to Note
A solid increase in average selling price of its products, particularly DuraTrack, is likely to have boosted ARRY’s first-quarter revenues. Increased megawatts shipment (buoyed by growing solar demand across the United States), coupled with benefits from the acquisition of the STI Norland, is expected to have added an impetus to the top-line performance.
However, slower conversion of projects owing to low availability of modules might have an adverse impact on the company’s first-quarter results.
Array Technologies, Inc. Price and EPS Surprise
Array Technologies, Inc. price-eps-surprise | Array Technologies, Inc. Quote
The Zacks Consensus Estimate for revenues is pegged at $322.4 million, indicating a 7.3% improvement from the year-ago quarter’s reported figure.
Factors like favorable revenue growth and strong margin performance in its FTI segment are expected to have boosted ARRY’s bottom-line performance.
The Zacks Consensus Estimate for first-quarter earnings is pegged at 3 cents per share, implying an improvement from the year-ago quarter’s reported loss of 2 cents per share.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Array Technologies this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: ARRY’s Earnings ESP is -12.90%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Array Technologies carries a Zacks Rank #3 at present.
Stocks to Consider
Here are two stocks from the same industry with the right combination of elements to come up with an earnings beat this reporting cycle:
Canadian Solar (CSIQ - Free Report) has an Earnings ESP of +51.58% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for first-quarter sales is pegged at $1.88 billion up fgrom The same for earnings stands at 48 cents per share.
CSIQ delivered an average earnings surprise of 164.30% in the trailing four quarters.
FTC Solar (FTCI - Free Report) has an Earnings ESP of +36.84% and a Zacks Rank #3 at present. The Zacks Consensus Estimate for first-quarter sales is pegged at $38.5 million. The same for earnings is pinned at a loss of 10 cents per share.
FTCI delivered an earnings surprise of 77.27% in the last reported quarter.
A Recent Solar Release
First Solar, Inc. (FSLR - Free Report) reported first-quarter 2023 earnings of 40 cents per share, which missed the Zacks Consensus Estimate of 99 cents by 59.6%. However, the bottom line improved significantly from the prior-year quarter’s reported loss of 41 cents per share.
Net sales totaled $548 million, which missed the Zacks Consensus Estimate of $724 million by 23.7%. However, the top line improved 49.4% from the year-ago quarter’s $367 million.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.