Array Technologies Backed by APA Solar Deal
The announcement came as investors pursue exposure to utility-scale solar activity, a sector poised to grow following the Senate's budget news on Monday. This racking and pilings company is set to be acquired at a valuation of 7.6x trailing twelve-month EBITDA, excluding 45X tax credits, allowing Array Technologies, Inc. (NASDAQ:ARRY) to expand its geographic footprint, mainly in colder and rockier regions where APA Solar is well-positioned.
An aerial view of a solar panel farm, its panel incremented tracking the sun's path.
Additionally, the agreement will also bring fixed tilt solutions to the company's offerings, establishing Array Technologies, Inc. (NASDAQ:ARRY) as a full-spectrum provider of ground mount infrastructure solutions for solar developers. What's truly exciting is that the company expects to realize at least $31 million in tax savings, with additional synergies across both the supply chain and sales operations.
Array Technologies, Inc. (NASDAQ:ARRY) is a New Mexico-based provider of solar tracking technology products with two main segments: Array Legacy Operations and STI Operations. Incorporated in 1987, the company's core offerings include DuraTrack HZ v3, Array STI H250, Array OmniTrack, Array SkyLink, and SmarTrack.
While we acknowledge the potential of ARRY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money.
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