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

FTC Solar

10/05/2024 15:13

* FTC Solar Inc  FTCI.OQ  reported a quarterly adjusted loss
of 9
cents​​ per share for the quarter ended in March, lower than the
same quarter last year, when the company reported EPS of -7
cents.  The mean expectation of seven analysts for the quarter
was for a loss of 9 cents per share. Wall Street expected
results to range from -11 cents to -7 cents per share.
    * Revenue fell 69.2% to $12.59 million from a year ago;
analysts
expected $12.91 million. 
    * FTC Solar Inc's reported EPS for the quarter was a loss
of 7
cents​.
    * The company reported a quarterly loss of $8.77 million.
    * FTC Solar Inc shares had risen by 2.0% this quarter and
lost 20.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 147.6% in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electrical
components & equipment peer group is also "buy"

Wall Street's median 12-month price target for FTC Solar Inc is
$0.50 
This summary was machine generated from LSEG data May 10 at
02:12 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
 Mar. 31 2024      -0.09          -0.09          Met
 Dec. 31 2023      -0.07          -0.08          Missed
 Sep. 30 2023      -0.07          -0.08          Missed
 Jun. 30 2023      -0.04          -0.06          Missed