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Array Technologies, Inc. ARRY Cumulative Gross Losses and Impairments

Discontinued — last reported Q3 '22

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Segments

By segment

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Array U.S. Operations$51.9M0.0%

Other financials

Income statement

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Revenue$342.1M-5.6%
Gross profit$99.6M+2.6%
Operating income$34.8M-25.0%
Net income$24.3M-43.7%
EPS (diluted)$0.05-73.7%

Balance sheet

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Cash & equivalents$307.3M-18.9%
Total debt$752.9M+8.5%
Total equity-$202.1M-185%
Total assets$1.5B-0.5%

Cash flow

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Operating cash flow$121.3M+177%
CapEx$7.6M+15.1%
Free cash flow$113.6M+205%

Valuation

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Market cap$808.54M+2.1%
Enterprise value$1.25B+12.9%
P/S0.7×0.0×

Profitability

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Gross margin24.3%-3.9pp
Operating margin-5.1%-2.1pp
Net margin-7.2%-2.7pp
FCF margin11.4%+1.0pp

Returns & leverage

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Return on equity-64.1%—
Debt / equity10.5×+7.4×
Current ratio2.2×0.0×

Where this comes from

Reported directly by Array Technologies, Inc. in its filing.

Tagged under the XBRL concept us-gaap:GoodwillImpairedAccumulatedImpairmentLoss.

The source filing: Array Technologies, Inc.’s 10-Q, filed November 9, 2022.

Filed
Nov 8, 2022, 6:03 PM EST
Fiscal quarter
Q3 FY2022
Calendar quarter
Q3 2022
Accession
0001820721-22-000146

Prior to the STI Acquisition, goodwill, related to Former Parent’s acquisition of the Company, was recorded as $121.6 million and was subsequently impaired. Total accumulated impairment as of September 30, 2022 was $51.9 million.

Item 1. Unaudited Condensed Consolidated Financial Statements

FAQ

What is Array Technologies, Inc.'s cumulative gross losses and impairments?
Array Technologies, Inc. (ARRY) reported cumulative gross losses and impairments of $51.9M in Q3 2022.
What does cumulative gross losses and impairments mean?
This metric aggregates all unrealized losses and recognized impairment charges on investment securities that have not yet been realized through a sale. It provides a comprehensive view of the negative valuation adjustments impacting the bank's equity. It is a key indicator of the credit and market risk embedded in the bank's long-term holdings.

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