Solar tracking solutions and related products provider Array Technologies (NASDAQ:ARRY) has announced the preliminary full-year 2022 numbers.
Revenue is seen ranging between $1.62 billion and $1.64 billion. The company expects EPS to hover between $0.34 and $0.37 for the year. Impressively, this indicates a 50% organic growth in the company’s top line.
Further, free cash flow generation is anticipated between $135 million and $137 million. Orderbook at the end of December 31, 2022, stood at $1.9 billion.
Looking ahead, for the full-year 2023, revenue is anticipated between $1.8 billion and $1.95 billion. Adjusted EBITDA is expected between $240 million and $265 million.
Overall, Wall Street has a consensus price target of $26.38 on ARRY, implying a massive 44.15% potential upside in the stock. That’s on top of a 56.1% surge in the share price over the past year.
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