Slide 1: Array Technologies 1Q 2022 Earnings Call
Array Technologies 1Q 2022 Earnings Call May 10, 2022 1
Slide 2: Disclaimer: Forward-Looking Statements and Other Information
Disclaimer Forward-Looking Statements and Other Information This presentation contains forward-looking statements, as the term is used within federal securities laws. All statements other than those of historical fact which appear in this presentation, including (without limitation) statements regar
Slide 3: Introduction
Introduction Kevin Hostetler 3
Slide 4: Array – Early Observations
Array – Early Observations Array has the fundamentals… …but execution will be key ► Industry-wide challenges remain, and we must execute Global despite them Utility scale solar is at the forefront of the shift to Renewable renewable sources of energy Energy Transition ► Control what is controllable
Slide 5: Financial Update
Financial Update Nipul Patel 5
Slide 6: 1Q 2022 Financial Results
1Q 2022 Financial Results 1Q Snapshot Y/Y Comparison Three Months Ended March 31, ► Revenue up 21% from addition of STI Norland business; Q1 2021 ($ in millions, except EPS Data) 2022 2021 Y/Y contained $40 million of ITC related orders Revenue $300.6 $248.2 +$52.4 Gross margin 8.8% 18.6% (9.8%) ► G
Slide 7: AD/CVD Update
AD/CVD Update ► Proximity of investigation announcement to our prior earnings call left us unable to estimate the potential risk with any degree of precision Timeline & Process ► Completed project by project review over the last several weeks ► 83% of industry respondents to a survey noted their pro
Slide 8: FY2022 Guidance Update
FY2022 Guidance Update Planning Assumptions ► $240 million revenue impact from AD/CVD investigation Full Year Ending December 31, 2022 ► Adjusted SG&A between $25 million to $28 million per quarter ► Effective Tax Rate: 26% Revenue $1.30 billion to $1.50 billion ► Fx Rates: Euro to USD 1.12 | Euro t
Slide 9: Appendix
Appendix : FOLLOW THE SUN. ee FOLLOW THE LEADER.
Slide 10: Adjusted EBITDA Reconciliation
Adjusted EBITDA Reconciliation ($ in millions) Adjusted EBITDA Three Months Ended March 31, 2022 2021 Net (loss) Income to common shareholders $ (33,660) $ 4,576 Preferred dividends and accretion 11,606 — Other expense, net (4,606) (78) Interest expense 6,942 9,009 Income tax expense (12,443) 1,698
Slide 11: Adjusted Net Income Reconciliation
Adjusted Net Income Reconciliation ($ in millions) Adjusted Net Income Three Months Ended March 31, 2022 2021 Net (loss) income to common shareholders $ (33,660) $ 4,576 Amortization of intangibles 22,553 5,877 Amortization of debt discount and issuance costs 1,710 3,586 Preferred dividend accretion