Array Technologies reported shrinking net income
Post date: 16/08/2021 - 08:09
US solar tracker company Array Technologies, Inc. announced increasing revenues by 76 percent to $202.8 million in the second quarter of 2021 compared to $114.9 million for the prior-year period. Gross profit increased 21 percent to $26.8 million compared to $22.2 million in the prior year period. Net loss was $17 thousand compared to net income of $2.4 million in Q2 2020.
Regarding the first half of the year, the company achieved revenue of $448 million (H1 2020: $552 million). Net income was shrinking from $76 million in H1 2020 to $2.8 million in the reporting period.
For the full year 2021, the company expects revenues to be in the range of $850 million to $940 million.