5 Companies in Focus After Posting Their Financial Results

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In this article, we discuss the 5 companies in focus after posting their financial Results. If you want to read our detailed analysis of these companies, go directly to the 11 Companies in Focus After Posting Their Financial Results.

5. Array Technologies, Inc. (NASDAQ:ARRY)

Number of Hedge Fund Holders: 25

Shares of Array Technologies, Inc. (NASDAQ:ARRY) fell over 11 percent on Tuesday, April 5, 2022, after posting a wider-than-expected loss for the fourth quarter. The solar tracker solutions provider reported an adjusted loss of 6 cents per share, compared to adjusted earnings of 8 cents per share in the fourth quarter of 2020.

Revenue for the quarter rose 22 percent on a year-over-year basis to $219.9 million. Analysts were expecting Array Technologies, Inc. (NASDAQ:ARRY) to report a loss of 3 cents per share on revenue of $213.82 million.

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Among other updates, Array Technologies, Inc. (NASDAQ:ARRY) reported that its gross margin for the quarter fell to 4.7 percent, well below 19.6 percent in the year-ago period. The company blamed higher raw material and shipping costs for the drop.

Looking forward, Array Technologies, Inc. (NASDAQ:ARRY) expects adjusted earnings in the range of 55 – 74 cents per share and revenue between $1.45 – $1.75 billion for the current fiscal year.

Commenting on the quarter, CEO Jim Fusaro said:

“Despite a challenging 2021 it is important to re-iterate that the foundation of Array’s growth remains stronger than ever.  This is most evident by the fact that we enter 2022 with $1.8 billion in executed contracts and awarded orders.”

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