Financials Array Technologies, Inc.

Equities

ARRY

US04271T1007

Renewable Energy Equipment & Services

Market Closed - Nasdaq Other stock markets 04:00:00 2024-12-04 pm EST			5-day change	1st Jan Change
6.190 ^USD	-2.37%		-11.57%	-63.15%

Dec. 04	Array Technologies, Inc. and RP Construction Services Surpass 6GW of Solar Power Deployed	CI
Dec. 03	Array Technologies Appoints H. Keith Jennings as CFO	MT

Projected Income Statement: Array Technologies, Inc.

income-statement-evolution-chart ARRAY-TECHNOLOGIES-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	647.9	872.7	853.3	1,638	1,577	916.6	1,152	1,276
Change	-	34.69%	-2.22%	91.9%	-3.72%	-41.86%	25.63%	10.8%
EBITDA ¹	-	160.5	43.22	128.7	288.1	178	249.2	278.4
Change	-	-	-73.08%	197.87%	123.82%	-38.22%	40%	11.69%
EBIT ¹	-	133.1	-24.74	-18.13	214.1	-0.6787	182.6	205.1
Change	-	-	-	-26.71%	-	-	-	12.37%
Interest Paid ¹	-	-15.13	-35.48	-33.51	-44.23	-24.86	-32.24	-33.78
Earnings before Tax (EBT) ¹	-	77.78	-61.12	-4.952	177.2	-64.4	139.1	152.5
Change	-	-	-	-91.9%	-	-	-	9.64%
Net income ¹	39.74	59.07	-66.12	-43.62	85.55	-82.24	75.15	91.23
Change	-	48.63%	-	-34.02%	-	-	-	21.39%
Announcement Date	10/8/20	3/9/21	4/5/22	3/21/23	2/27/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: December	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3
Net sales ¹	180.6	245.9	202.8	192.1	219.9	300.6	424.9	515	402.1	376.8	507.7	350.4	341.6	153.4	255.8	231.4	273.9	223	295	306.1	312.4	276.6	341.3	376.8
Change	-	36.2%	-17.54%	-5.29%	14.48%	36.71%	41.37%	21.2%	-21.93%	-6.29%	34.76%	-30.98%	-2.52%	-55.09%	66.73%	-9.52%	18.35%	-18.58%	32.28%	3.78%	2.05%	-11.44%	23.36%	10.42%
EBITDA ¹	20.05	34.45	16.17	-0.504	0.453	0.737	25.94	55.42	51.7	66.97	115.6	57.39	48.18	26.25	55.38	46.72	48.17	41.23	65.53	67.92	70.96	53.49	72.07	88.23
Change	-	71.84%	-53.06%	-	-	62.69%	3,419.95%	113.63%	-6.71%	29.54%	72.6%	-50.35%	-16.06%	-45.52%	111%	-15.63%	3.1%	-14.42%	58.94%	3.65%	4.48%	-24.63%	34.74%	22.41%
EBIT ¹	13.16	27.97	9.688	-16.13	-20.01	-32.16	-6.844	18.52	16.35	47.46	96.24	40.2	30.22	8.414	39.6	-132.7	39.14	23.66	49.07	48.85	56.68	34.5	53.28	58.76
Change	-	112.51%	-65.36%	-	24.04%	60.71%	-78.72%	-	-11.72%	190.28%	102.79%	-58.22%	-24.84%	-72.16%	370.67%	-	-	-39.55%	107.39%	-0.45%	16.03%	-39.13%	54.45%	10.28%
Charge d'intérêts ¹	-6.816	-9.009	-6.651	-13.11	-6.706	-6.942	-8.021	-8.746	-9.804	-9.5	-10.11	-13.06	-8.857	-5.26	-8.614	-8.264	-7.161	-8.079	-8.079	-8.08	-8.081	-8.785	-8.785	-8.785
Earnings before Tax (EBT) ¹	-9.198	3.966	-1.067	-29.54	-27.13	-34.5	-16.97	51.97	8.548	36.01	87.21	30.44	22.36	3.469	33.51	-137.5	29.49	13.06	38.66	37.47	47.96	26.71	45.5	50.97
Change	-	-	-	2,668.51%	-8.17%	27.17%	-50.8%	-	-83.55%	321.24%	142.2%	-65.09%	-26.57%	-84.48%	865.96%	-	-	-55.71%	195.99%	-3.09%	27.99%	-44.3%	70.32%	12.04%
Net income ¹	-9.772	2.887	-0.017	-31.03	-32.14	-33.66	-14.96	28.56	-17.26	13.65	52.02	10.12	6.01	-11.34	11.95	-155.4	13.02	-0.6871	17.05	16.58	22.25	6.51	20.83	25.02
Change	-	-	-	182,435.29%	3.56%	4.74%	-55.56%	-	-	-	281.18%	-80.54%	-40.63%	-	-	-	-	-	-	-2.72%	34.17%	-70.74%	220%	20.1%
Announcement Date	3/9/21	5/11/21	8/11/21	11/11/21	4/5/22	5/10/22	8/9/22	11/8/22	3/21/23	5/9/23	8/8/23	11/7/23	2/27/24	5/9/24	8/8/24	11/7/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Array Technologies, Inc.

balance-sheet-analysis-chart ARRAY-TECHNOLOGIES-INC

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	-	320	354	636	481	335	193	67.2
Change	-	-	10.62%	79.66%	-24.37%	-30.41%	-42.39%	-65.18%
Announcement Date	10/8/20	3/9/21	4/5/22	3/21/23	2/27/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Array Technologies, Inc.

Fiscal Period: December	2020	2021	2022	2023	2024	2025	2026
CAPEX ¹	1.338	3.357	10.62	16.99	19.18	25.61	25.49
Change	-	150.9%	216.32%	59.99%	12.89%	33.54%	-0.46%
Free Cash Flow (FCF) ¹	-123.5	-266.5	130.9	215	104.2	156.6	124.7
Change	-	115.75%	-149.1%	64.25%	-51.5%	50.26%	-20.37%
Announcement Date	3/9/21	4/5/22	3/21/23	2/27/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Array Technologies, Inc.

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Profitability
EBITDA Margin (%)	-	18.4%	5.06%	7.86%	18.28%	19.42%	21.64%	21.82%
EBIT Margin (%)	-	15.25%	-2.9%	-1.11%	13.58%	-0.07%	15.85%	16.08%
EBT Margin (%)	-	8.91%	-7.16%	-0.3%	11.24%	-7.03%	12.08%	11.95%
Net margin (%)	6.13%	6.77%	-7.75%	-2.66%	5.43%	-8.97%	6.53%	7.15%
FCF margin (%)	-	-14.16%	-31.24%	7.99%	13.64%	11.37%	13.6%	9.78%
FCF / Net Income (%)	-	-209.14%	403.13%	-300.02%	251.28%	-126.76%	208.42%	136.72%
Profitability
ROA	-	14.23%	0.97%	4.02%	10.04%	-1.13%	5.36%	7.55%
ROE	-	100.25%	19.99%	207.92%	89.3%	43.85%	71.62%	70%
Financial Health
Leverage (Debt/EBITDA)	-	1.99x	8.18x	4.94x	1.67x	1.88x	0.77x	0.24x
Debt / Free cash flow	-	-2.59x	-1.33x	4.86x	2.24x	3.21x	1.23x	0.54x
Capital Intensity
CAPEX / Current Assets (%)	-	0.15%	0.39%	0.65%	1.08%	2.09%	2.22%	2%
CAPEX / EBITDA (%)	-	0.83%	7.77%	8.25%	5.9%	10.77%	10.28%	9.16%
CAPEX / FCF (%)	-	-1.08%	-1.26%	8.11%	7.9%	18.4%	16.35%	20.44%
Items per share
Cash flow per share ¹	-	-1.006	-2.025	0.9444	1.526	0.905	1.215	1.11
Change	-	-	101.33%	-146.64%	61.56%	-40.69%	34.3%	-8.67%
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	-	-0.637	1.294	0.8295	1.714	1.482	2.294	2.686
Change	-	-	-303.2%	-35.92%	106.64%	-13.51%	54.71%	17.12%
EPS ¹	-	0.49	-0.51	-0.29	0.56	-0.924	0.3861	0.4496
Change	-	-	-204.08%	-43.14%	-293.1%	-265%	-141.79%	16.45%
Nbr of stocks (in thousands)	-	126,994	135,027	150,491	151,216	151,943	151,943	151,943
Announcement Date	-	3/9/21	4/5/22	3/21/23	2/27/24	-	-	-