Array Technologies Inc

ARRAY Technologies will host its APA Investor Technology Showcase today, where CEO Kevin Hostetler and leadership will detail the company's strategy to evolve from a pure-play tracker company into a more technically integrated energy infrastructure platform. The event will highlight APA Solar's progress approximately one year after its acquisition, including integration, commercial momentum, realized synergies, and opportunities for continued profitable growth. Management will also discuss expanding its addressable market through the pending acquisition of Affordable Wire Management, expected to close in the third quarter of 2026, and five major product launches planned for 2026. The company aims to deliver greater value to customers, increase project share, and create additional opportunities for profitable growth through complementary technologies engineered to work together.

Array Technologies reaffirmed its full-year 2026 revenue guidance of $1.4 billion to $1.5 billion while raising its adjusted earnings per share outlook to $0.68 to $0.75. The company also lifted its consolidated adjusted gross margin forecast to 27% to 28%, up 100 basis points from prior guidance, and now expects adjusted EBITDA of $210 million to $230 million. Second-quarter revenue came in at $342 million, above the guided range of $300 million to $320 million, with adjusted gross margin of 30.8% and adjusted EPS of $0.24. Array announced a definitive agreement to acquire Affordable Wire Management, a deal expected to close in the third quarter and be high single-digit accretive to adjusted EPS in year one before synergies. Management cautioned that near-term project timing related to permitting and site readiness could push recognized revenue below the midpoint of the full-year range, and that a heavier fourth-quarter revenue profile may shift some collections into early 2027.

Array Technologies has introduced the Atlas suite, an advanced integration of foundation-to-tracker solutions aimed at enhancing solar project efficiency and performance across varying soil conditions. The Atlas suite is designed to improve installation predictability, streamline procurement, and offer greater design adaptability, addressing the often fragmented foundation-to-tracker interface in solar projects. By leveraging engineered solutions for both standard and challenging sites, Array seeks to minimize costs and execution risks associated with traditional steel foundation approaches. This development marks a significant step in progressing integrated solar energy solutions, encouraging more efficient and reliable execution of utility-scale projects as the energy transition continues to grow.

Array Technologies has agreed to acquire Affordable Wire Management, a provider of wire management and balance-of-system solutions for utility-scale solar and energy storage projects, for a total consideration of up to $203 million. The deal includes an upfront payment of $153 million, $10 million in installments over two years after closing, and a $40 million performance-based earnout payable in cash or stock. AWM's trailing 12-month revenue was nearly $60 million. Array expects the acquisition to be high-single-digit accretive to adjusted earnings per share in the first year after closing, before synergies. CEO Kevin Hostetler said the deal will broaden Array's balance-of-system portfolio and create new growth vectors in the battery energy storage and datacenter markets.

Array Technologies launched DuraTrack D2S, a dual-row solar tracker aimed first at international markets where that format is often preferred. The system extends the company's DuraTrack architecture into a format designed for faster installation, better terrain tolerance, more flexible site design, and lower maintenance needs. It includes Wind XP passive wind-stow technology, which Array said can provide an energy-yield benefit of up to 4%, along with SmarTrack software and OmniTrack terrain-following capability. Construction of the first commercial project using DuraTrack D2S began in Spain in the first quarter of 2026, supporting Array's effort to expand its tracker platform across EMEA and other international solar markets.