- Wall Street had estimated a revenue of $211.4 million in the fourth-quarter, according to Fiscal.ai data.
- The company expects full-year 2026 revenue in the range of $1.4 billion to $1.5 billion.
- Array’s CFO expects gross margins to remain stable despite rising costs.
Shares of Array Technologies (ARRY) tumbled over 26% in pre-market trading on Thursday, and are poised to test their 200-day moving average (200-DMA) for the first time since Nov. 25, 2025, after the solar equipment maker issued a cautious fiscal 2026 earnings forecast that disappointed investors.
In the fourth quarter, Array’s revenue fell 17% year over year to $226 million, though it beat Street estimates of $211.4 million, according to Fiscal.ai data. The company’s net loss widened to $145.7 million from $126.9 million, dragged by a non-cash goodwill impairment charge and a one-time inventory valuation charge.
Weak Outlook Weighs On Stock Price
Array announced that it expects full-year 2026 revenue of $1.4 billion to $1.5 billion, in line with Wall Street estimates and slightly higher than the $1.28 billion it reported for FY2025. Revenue will likely be weighted toward the second half, with a 40:60 split, the company said.
However, its adjusted net income projection of $0.65–$0.75 per share is below the $0.88 per share estimate. Array expects FY2026 adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) in a range of $200 million -$230 million.
Array’s CFO, Keith Jennings, expects gross margins to remain stable despite increasing costs.
“We are in an environment of rising commodity costs. We are in an environment of changing dynamics as we try to expand into certain strategic markets internationally that have lower price points. So we are confident that our gross margins across the horizon can hold,” Jennings said in a call with analysts.
How Did Stocktwits Users React?
Despite the sharp premarket decline, retail sentiment on ARRY flipped to ‘bullish’ from ‘bearish’ a day earlier, amid ‘extremely high’ message volumes. According to Stocktwits data, message volume rose by 400% over the previous 24 hours as of Thursday morning.
One user said the “EPS guidance for 2026 is on the low side.”
One user said the stock is cheap despite the earnings.
Year-to-date, the stock has declined around 13%.
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