Q2 25 EPS
$0.25
BEAT +27.88%
Est. $0.20
Q2 25 Revenue
$362.2M
BEAT +25.41%
Est. $288.8M
vs S&P Since Q2 25
-1.8%
TRAILING MARKET
ARRY +15.3% vs S&P +17.0%
Market Reaction
Did ARRY Beat Earnings? Q2 2025 Results
Array Technologies delivered a blowout second quarter, posting adjusted EPS of $0.25 that beat the $0.20 consensus by 27.88%, while revenue surged 41.6% year over year to $362.24 million, clearing the $288.84 million estimate by 25.41%. The standout … Read more Array Technologies delivered a blowout second quarter, posting adjusted EPS of $0.25 that beat the $0.20 consensus by 27.88%, while revenue surged 41.6% year over year to $362.24 million, clearing the $288.84 million estimate by 25.41%. The standout driver was an extraordinary 52% year-over-year volume growth, fueling market share gains that more than offset margin compression from the company's deliberate unwinding of low-margin legacy fixed-price contracts, which pushed gross margin to 26.8% from 33.6% a year ago. Adjusted EBITDA reached $63.56 million, growing 57% sequentially, while a series of capital structure moves, including the issuance of $345 million in new convertible notes and the retirement of its senior secured term loan, cut annualized interest expense by roughly $9 million. The company also completed its acquisition of APA Solar, broadening its product portfolio into engineered foundation solutions. Looking ahead, Array raised its full-year 2025 revenue guidance to $1.18 billion–$1.22 billion and adjusted EPS to $0.63–$0.70, even as management acknowledged near-term uncertainty from tariff pressures and pending energy legislation.
Key Takeaways
- • 42% YoY revenue growth driven by market share gains and 52% YoY volume growth
- • 84% year-to-date volume growth over 2024
- • 20% sequential revenue growth from continued commercial execution
- • Higher mix of domestic projects improving adjusted gross margin by 130 bps sequentially
- • IRA Section 45X Advanced Manufacturing Production Credits for torque tube and structural fastener manufacturing
- • Strategic descoping and reconfiguring of low-margin legacy fixed-price VCA projects improving orderbook quality
- • $14.2 million gain on extinguishment of debts from repurchasing convertible notes at ~20% discount
ARRY YoY Financials
Q2 2025 vs Q2 2024, source: SEC Filings
ARRY Revenue by Segment
With YoY comparisons, source: SEC Filings
“ARRAY remains focused on commercial execution—delivering 20% sequential revenue growth, with continued new booking momentum and actions taken to produce an improved quality, higher-margin orderbook. Over the last quarter, we also announced several transformative business updates through our definitive agreement to acquire APA Solar and the launch of Hail XP™. Additionally, we successfully issued new convertible notes, repaid our higher-cost term loan in full, and unlocked balance sheet constraints. With these updates, we significantly enhance our customer-focused product offerings, improve our capital structure and debt maturity profile, and better position ARRAY for long-term growth.”
— Kevin G. Hostetler, Q2 2025 Earnings Press Release
ARRY Earnings Trends
ARRY vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ARRY EPS Trend
Earnings per share: estimate vs actual
ARRY Revenue Trend
Quarterly revenue: estimate vs actual
ARRY Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.05 | $0.06 | +218.34% | $223.4M | +10.79% |
| Q4 25 MISS FY | $0.00 | $-0.01 | -600.00% | $226.0M | +6.92% |
| FY Full Year | $0.67 | $0.67 | +0.45% | $1.28B | +1.16% |
| Q3 25 BEAT | $0.20 | $0.30 | +48.88% | $393.5M | +26.15% |
| Q2 25 BEAT | $0.20 | $0.25 | +27.88% | $362.2M | +25.41% |
| Q1 25 BEAT | $0.09 | $0.13 | +47.39% | $302.4M | +14.37% |