FTC Solar down on higher-than-expected Q4 loss, lower Q1 revenue forecast

FTC Solar

14/03/2024 14:58

** Shares of FTC Solar  FTCI.O  down 14.7% at 40 cents
    ** Co on Wednesday reported higher-than-expected Q4 loss on
higher operating expenses
    ** Reported a loss on adjusted basis of 8 cents per share vs
loss estimate of 7 cents per share - LSEG
    ** Co expects Q1 2024 revenue to be down from a year earlier
    ** "While investors likely focus on the soft 1Q guide, we
see bright spots on the increased transparency of what is 'real'
backlog," said TD Cowen in a note
    ** Including sessions move, shares down ~42% YTD

 (Reporting by Tanay Dhumal in Bengaluru)
 ((Tanay.Dhumal@thomsonreuters.com; 
Twitter: https://twitter.com/TanayDhumal))