Array technologies, inc. reports financial results for the third quarter 2023 – continues strong operational execution; announced chief financial officer transition

Third quarter 2023 highlights revenue of $350.4 million(1) net income to common shareholders of $10.1 million adjusted ebitda(2) of $57.4 million basic and diluted net income per share of $0.07 adjusted diluted net income per share( 2 ) of $0.21 executed contracts and awarded orders at september 30, 2023 totaling $1.6 billion (1) revenue results exclude the impact of a ($20.1) million brazil value-added tax benefit, imposto sobre circulaÇÃo de mercadorias e servicos (“icms”), that has been reclassified and included in cost of revenues in the current year. this reclassification was determined to be appropriate after we evaluated the expected treatment of governmental incentives for the 45x manufacturing credits under the inflation reduction act, but has no impact on profitability or cash flow.
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