FTC Solar falls after downbeat Q2 revenue forecast

FTC Solar

10/05/2024 15:34

** Shares of renewable energy firm FTC Solar  FTCI.O  down 8.5%
at 50 cents
** Co forecasts Q2 rev in the range of $10.5 mln to $15.5 mln vs
est of $23.6 mln - LSEG 
    **  Co's Q1 rev declines by 69.2% to $12.59 mln vs est of
$12.91 mln - LSEG 
    **  Says decline in revenue attributable to lower product
and logistics volumes 
    **  Net loss narrows to 7 cents/shr vs loss of 11 cents/shr
in the year-ago quarter 
    ** "We continue to expect revenue to be weighted toward the
second half of the year, and that the company will approximate
breakeven on an Adjusted EBITDA basis in the third quarter and
be profitable on that basis in the fourth quarter" - Co 
    ** Including the session's losses, stock is down ~30% YTD 

 (Reporting by Sourasis Bose in Bengaluru)
 ((Sourasis.bose@thomsonreuters.com))