FTC Solar falls on missing Q2 rev target, wider-than-expected loss

FTC Solar

09/08/2023 13:53

** Shares of FTC Solar Inc  FTCI.O  down ~18% at $2.8
premarket
    ** Co reports Q2 revenue of $32.36 mln vs. analysts'
estimate of $47.38 mln - Refinitiv 
    ** Co reports adj. loss of 6 cents/shr vs. avg. est. of 4
cents/shr loss
    ** FTCI says project delays impacted near-term revenue;
total backlog of projects grows to $1.6 bln 
    ** Co sees Q3 revenue to be approximately flat to down
compared with Q2
    ** Stock up ~29% YTD 

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com;))