FTC Solar Inc reports results for the quarter ended in December - Earnings Summary

FTC Solar

13/03/2024 21:01

* FTC Solar Inc  FTCI.OQ  reported a quarterly adjusted loss
of 8
cents​​ per share for the quarter ended in December, higher than
the same quarter last year, when the company reported EPS of -11
cents.  The mean expectation of eight analysts for the quarter
was for a loss of 7 cents per share. Wall Street expected
results to range from -8 cents to -7 cents per share.
    * Revenue fell 11.5% to $23.20 million from a year ago;
analysts
expected $23.12 million. 
    * FTC Solar Inc's reported EPS for the quarter was a loss
of 9
cents​.
    * The company reported a quarterly loss of $11.18 million.
    * FTC Solar Inc shares had fallen by 34.1% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 2.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 3
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the electrical
components & equipment peer group is  "hold."

Wall Street's median 12-month price target for FTC Solar Inc is
$1.25 
This summary was machine generated from LSEG data March 13 at
09:01 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      -0.07          -0.08          Missed
 Sep. 30 2023      -0.07          -0.08          Missed
 Jun. 30 2023      -0.04          -0.06          Missed
 Mar. 31 2023      -0.09          -0.07          Beat