Array Swings to $13.6 Million Profit in Q1 on Higher Solar Tracker Shipments
The company’s revenue was up 25%, operating expenses were down 17%
May 11, 2023
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Utility-scale solar tracker company Array Technologies swung to a profit of $13.6 million for the first quarter (Q1) of the financial year (FY) 2023 from a loss of $37.5 million year-over-year (YoY), mainly on higher shipment of its products at a higher average selling price due to improved pass-through pricing.