Want to see ARRY full AI Analyst Report?
EarningsQ2 2026 Earnings Report
ARRY Q2 2026 EPS Results
Actual EPS$0.24
Consensus EPS$0.12
Beat/MissBeat by +$0.12
One Year Ago EPS$0.25
ARRY Q2 2026 Revenue Results
Actual Revenue$342.06M
Expected Revenue$312.97M
Beat/MissBeat by +$29.10M
YoY Revenue Growth-5.57%
Earnings Announcement Details
QuarterQ2 2026
Date08/05/2026
TimeAfter Close
Conference CallWednesday, August 5, 2026
ARRY Upcoming Earnings
Array Technologies's next earnings date is estimated for November 5, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
ARRY Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call communicated strong operational execution and commercial momentum: materially higher sequential revenue (+53%), record order book ($2.5B, +37% YoY), margin expansion (adjusted gross margin 30.8%) and improved adjusted EBITDA (+119% sequential). Significant product innovation and successful M&A integration (APA) plus a planned accretive AWM acquisition support medium-term growth and share-of-wallet expansion. Key risks include non-repeatable one-time margin benefits, rising international mix and input costs that may pressure H2 margins, timing-driven revenue/collections that reduce near-term free cash flow conversion, and external policy uncertainty (Section 232). On balance, the positives (top-line acceleration, margin recovery, cash build, product momentum, strong order book) outweigh the manageable near-term headwinds.Company Guidance
Strong Revenue and Sequential Growth
Revenue of $342 million in Q2, up 53% sequentially versus Q1 and above guidance ($300M–$320M); driven by 38% tracker volume growth and accelerated APA project activity.
Expanded Profitability and Margins
Adjusted gross profit of $105 million (up 53% sequentially) and adjusted gross margin of 30.8% (YTD and Q2). Adjusted EBITDA of $63 million, up 119% sequentially, with adjusted EBITDA margin of 18.5% (improved 560 basis points sequentially).
Order Book and Book-to-Bill Strength
Record order book of $2.5 billion, up 37% year-over-year, with over $500 million of new bookings in the quarter and a 12-month trailing book-to-bill of 1.5x (over $1.8 billion of new bookings).
Cash Generation and Liquidity
Quarter-end cash of $307 million (up >$100M sequentially), free cash flow of $114 million, total available liquidity >$640 million including a fully undrawn $370 million revolver; net debt leverage improved to 2.1x LTM adjusted EBITDA (from 2.7x).
Product and Innovation Momentum
Largest launch year with 5 significant product introductions (OmniTrack 2.0, DuraTrack D2S, DuraTrack 60-degree variant, Array Atlas suite, etc.). Products launched since 2023 account for ~50% of the order book and ~50% of 2026 revenue (up from ~33% in 2025).
Commercial & M&A Execution (APA and AWM)
APA integration showing early success: APA YTD book-to-bill >1.5x and first-half revenue 17% ahead of 2025. Signed definitive agreement to acquire Affordable Wire Management (AWM) with trailing 12-month revenue near $60M; AWM expected to be high single-digit accretive to adjusted EPS in year 1 and acquired at ~6x TTM EBITDA.
Software and Solution Adoption
Software revenue doubled year-to-date, indicating customer willingness to adopt software-enabled offerings (SmarTrack); Array Atlas foundation-to-tracker integration targets installation efficiency and 45X manufacturing credits capture.
Field Efficiency and Cost Savings from New Products
OmniTrack 2.0 supports up to 2° slope change between posts, reducing site grading and saving up to $2.5M per 100 MW (20%–25% of tracker cost in that application). Atlas II reduces components by ~70% versus legacy A-frame, improving install speed and reducing labor.
Updated Full-Year Guidance and Earnings Outlook
Reaffirmed full-year revenue guidance of $1.4B–$1.5B and raised expected consolidated adjusted gross margin to 27%–28%. Increased full-year adjusted EBITDA guidance to $210M–$230M and adjusted EPS guidance to $0.68–$0.75.
ARRY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed