Array Technologies, Inc. (ARRY)

NASDAQInformation TechnologySolarSnapshot 2026-09-04

$4.60+1.32%

Close 2026-09-04 · 1-day change

Standing thesis

The standing, falsifiable read: what has to stay true, and what would break it.

Turnaround

Intact: The reason to own it still holds.

The bull case

Array Technologies aims for $1.4B to $1.5B revenue in 2026. Adjusted EPS target is $0.65 to $0.75. The company showed a surprise Q1 profit and raised price targets. Solar sector tailwinds support demand.

The bear case

Revenue growth is weak with Q1 revenue down to $223M from $226M. EPS was negative in Q1, far from the target. The recent sharp selloff shows investor doubts on execution and growth.

What's priced in

The price is about 36% below our fair value near $10.65. Analysts expect 21% revenue growth, which is priced in. Our view aligns with consensus but we note risks in meeting targets.

What has to stay true

Achieve adjusted EPS of $0.65 to $0.75 in FY 2026Improving
Management Executionprimary>= $0.65 per share · FY26 (guidance)
Breaks if: adjusted EPS falls below $0.50 in FY26
Achieve $1.4B to $1.5B revenue in FY 2026Intact
Revenue Growthprimary>= $1.4 billion · FY26 (guidance)
Breaks if: annual revenue falls below $1.25 billion in FY26
Increase quarterly revenue to $300M-$320M in Q2 2026Intact
Revenue Growthsupporting>= $300 million · 2026-Q2 (guidance)
Breaks if: Q2 revenue falls below $280 million

Source: QuarterlyIQ research model· Written 2026-07-08· Health checked 2026-09-04· Version 1· Status: Intact· Reviewed when the evidence changes

This is not a price target or investment advice.

Current Outlook

Week of Sep 5, 2026

A long-form read on the 1–3 year hold thesis. It updates when the weekly evidence changes.

ARRY is navigating a challenging environment with mixed execution and elevated risks.

What kind of bet this is

This investment represents a turnaround situation with a focus on growth and execution. The current thesis state reflects cautious optimism, as management is making strides but faces significant industry challenges.

What's priced into Array Technologies, Inc. (ARRY)

The market appears to price ARRY as relatively cheap compared to its peers, with a notable expectations gap. This suggests that investors may not fully anticipate the potential for growth or the risks associated with recent performance.

What the fundamentals likely do

Management is on track to meet its revenue and adjusted earnings per share (EPS) targets for 2026, although recent financial performance has been below that of industry peers. The near-term risk of missing guidance is low, but the company operates in a sector where misses are common.

What Array Technologies, Inc. (ARRY) hinges on

The long-term thesis hinges on ARRY's ability to maintain guidance in the upcoming earnings call, the potential for favorable movements in interest rates, and the performance of sector leaders that could influence market sentiment.

What changed in the latest read

What changed

The most important moves since the prior daily snapshot.

Short-term · Daily

No material changes since the prior snapshot.

Yes, our read has strengthened. The latest earnings beat supports a more favorable outlook for the company. There are no new threats identified that could weaken this position. The sector is viewed as having favorable growth conditions that benefit the company.

as of 2026-09-04

See upcoming information that could change the risk

Review the evidence to watch, what would become a concern, and what would make it less concerning.

Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.