What Should You Do With ARRY Stock Ahead of Q4 Earnings?

Array Technologies, Inc. ARRY is expected to witness a decline in its top and bottom lines when it reports fourth-quarter 2025 results. 
The Zacks Consensus Estimate for ARRY’s fourth-quarter revenues is pegged at $210 million, indicating a 23.7% decrease from the year-ago reported figure.

The consensus estimate for earnings is pegged at breakeven. The Zacks Consensus Estimate for ARRY’s fourth-quarter earnings witnessed no movement in the past 30 days. The company reported earnings of 16 cents per share in the year-ago quarter.

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ARRY’s Decent Earnings Surprise History

Array Technologies’ earnings beat the Zacks Consensus Estimate in three of the trailing four quarters and missed in one, the average surprise being 25.12%.

What the Zacks Model Unveils for Array Technologies

Our proven model does not conclusively predict an earnings beat for Array this time around. This is because a stock needs to have the right combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), which increases the chances of an earnings beat. This is not the case, as you can see below.

You can uncover the best stocks to buy or sell before they are reported with our Earnings ESP Filter.

Earnings ESP: ARRY has an Earnings ESP of 0.00%. This is because both the Most Accurate Estimate and the Zacks Consensus Estimate are pegged at $0.00.
 

Zacks Rank: ARRY currently has a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.

 

Factors Likely to Shape ARRY’s Q4 Results

Revenues are likely to have benefited from better performance at both its Array Legacy Operations and STI Operations. The segments are likely to have benefited from higher volume. The APA acquisition is likely to have contributed to the top line.

Array Technologies is well-positioned to benefit from long-term structural growth in renewable energy. The U.S. solar industry is experiencing strong underlying momentum, with utilities, businesses and households increasingly adopting solar and storage. 

However, lag in project completions and deliveries is likely to have weighed on revenues.

Backlogs are likely to have improved owing to the company’s diverse and compelling portfolio of products and services, including OmniTrack, Skylink and Hail XP.

Cost of revenues is likely to have increased due to the higher cost of product and service revenues, as well as amortization of developed technology and backlog.

The magnitude of increase in revenues is likely to have been more than that of expenses, favoring higher profits. 

Operating expenses in the to-be-reported quarter are likely to have increased, attributable to higher general and administrative expenses.

ARRY’s Price Performance & Valuation

The stock underperformed the industry and the S&P 500 in the fourth quarter of 2025 but outperformed the sector in the same time frame. 

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The stock is undervalued compared with its industry. It is currently trading at a price-to-earnings multiple of 11.06, lower than the industry average of 18.69.

Image Source: Zacks Investment Research

It is attractively valued compared with other insurers like Sunrun RUN and First Solar FSLR.

Investment Thesis

Array Technologies is well-positioned to capitalize on long-term structural growth in renewable energy. The U.S. solar market continues to gain momentum as utilities, corporations, and homeowners accelerate adoption of solar and storage, while global installations rise alongside government and corporate decarbonization commitments. A substantial order backlog provides strong revenue visibility for the coming quarters.

The company’s introduction of fully domestically sourced trackers offers a meaningful competitive edge. Management expects both organic expansion in its core operations and inorganic growth through the integration of APA Solar, supported by a healthy order book and improving book-to-bill trends. Array has also bolstered its financial position by refinancing higher-cost debt, extending maturities, and enhancing liquidity.

However, shifting federal policies have introduced near-term uncertainty, disrupting permitting, procurement and supply chains. Although module prices have declined, elevated U.S. tariffs continue to put pressure on system costs and margins.

How to Play ARRY Stock

Array Technologies stands to gain from solar infrastructure growth, supported by product innovation as well as domestic content advantage. Its VGM Score of B instills confidence.  Its successful backlog conversion, cost discipline and synergies from APA Solar bode well for long- term growth. 

However, given muted analyst sentiment and federal policy changes, maintaining a wait-and-see stance appears to be a sensible approach for ARRY stock.