What Happened?
Shares of solar tracking systems manufacturer Array (NASDAQ: ARRY) jumped 7.8% in the afternoon session after the company reported strong first quarter 2025 results which significantly beat analysts' revenue, EPS, and EBITDA expectations. The big surprise came from sales, which nearly doubled from last year, thanks to a big pickup in shipments and solid gains in international deals. Zooming out, we think this quarter featured some important positives.
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What The Market Is Telling Us
Array’s shares are extremely volatile and have had 68 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 9 months ago when the stock dropped 24.9% on the news that the company reported second quarter earnings results. Its full-year revenue guidance missed and its EBITDA guidance for the full year fell short of Wall Street's estimates.
On the other hand, revenue and EPS came in ahead of analysts' expectations during the quarter. Overall, this was a weaker quarter for the company, given the lowered guidance.
Array is down 20.8% since the beginning of the year, and at $5.34 per share, it is trading 62.4% below its 52-week high of $14.19 from May 2024. Investors who bought $1,000 worth of Array’s shares at the IPO in October 2020 would now be looking at an investment worth $146.50.
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