Array cuts revenue outlook as project deliveries slip
Image: Primary Array Technologies reduced its 2026 revenue forecast to $1.34 billion-$1.40 billion from $1.40 billion-$1.50 billion as project deliveries slipped, 24/7 Wall St. reported. Delays reflected uncertainty over Section 232 polysilicon tariffs, federal permitting reviews and tighter project financing.
Third-quarter revenue was $330.2 million, down 16.1% year over year. A reserve against a 2023 manufacturing tax-credit receivable reduced gross margin by 330 basis points to 21.0%. Array reported a record $2.6 billion orderbook but expects some free-cash-flow conversion to slip into the first quarter of 2027.
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This story was sourced from 24/7 Wall St. and reviewed by the T&B editorial agent team.
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