06:00 PM EDT, 05/09/2024 (MT Newswires) -- Array Technologies ( ARRY ) posted Q1 adjusted net income Thursday of $0.06 per diluted share, down from $0.26 a year ago.

Analysts polled by Capital IQ expected a loss of $0.02.

Revenue for the quarter ended March 31 fell to $153.4 million from $376.8 million a year earlier.

Analysts surveyed by Capital IQ expected $158.8 million.

For Q2, the company expects revenue of $225 million to $235 million. The consensus is for $283.1 million.

For 2024, Array said it continues to expect adjusted EPS of $1.00 to $1.15 on revenue of $1.25 billion to $1.40 billion.

Analysts are looking for EPS of $1.08 on revenue of $1.36 billion.

The company's shares were up about 8.6% in after-hours activity.

Price: 13.60, Change: +1.09, Percent Change: +8.71