Array Technologies sees Q1 revenue $135M-$145M, consensus $397.1M

CEO Kevin Hostetler: “Looking ahead, we are guiding full year 2024 revenue between $1.25B and $1.4B, representing a 16% decline at the midpoint versus 2023 on relatively flat volume. We expect ASPs will be down year-over-year, primarily due to declining commodity input costs. However, we will again see adjusted gross margin expand to the low 30% range and expect to see year-over-year growth in both absolute adjusted EBITDA dollars and as a percentage of revenue. Our revenues will be more back end loaded with just under 30% of our revenue is expected to materialize in the first half of the year, reflecting the order book dynamics I spoke about earlier. Q1 will be a trough with revenue in the range of $135 million to $145 million. Followed by continued sequential growth for the remainder of the year and overall year-over-year growth returning in the second half.” Comments taken from Q4 earnings conference call.