Array Technologies’ Q3 revenue drops due to decreased shipments

CBCIE Time：Nov 09, 2023 09:38 Source：pv-tech

US solar tracker manufacturer Array Technologies has published its financial results for the third quarter of this year, with revenue decreasing by 32% to US$350.4 million due to the decreased shipments.

In Q3, Array Technologies’ saw a reduction of 22% in the total number of MWs shipped and a decrease in the average selling price of 12% driven by lower input costs. Therefore, revenue decreased from US$515 million in Q3 2022 to US$350.4 million in Q3 2023. Quarterly, Array Technologies’ revenue dropped from US$507.7 million in Q2 2023 or by 31%.

Key Words:

solar US revenue

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