FTC Solar Inc reports results for the quarter ended September 30 - Earnings Summary

FTC Solar

12/11/2024 15:28

* FTC Solar Inc  FTCI.OQ  reported a quarterly adjusted loss
of 10
cents​​ per share for the quarter ended September 30, lower than
the same quarter last year, when the company reported EPS of -8
cents.  The mean expectation of six analysts for the quarter was
for a loss of 9 cents per share. Wall Street expected results to
range from -9 cents to -7 cents per share.
    * Revenue fell 66.8% to $10.14 million from a year ago;
analysts
expected $9.90 million. 
    * FTC Solar Inc's reported EPS for the quarter was a loss
of 12
cents​.
    * The company reported a quarterly loss of $15.36 million.
    * FTC Solar Inc shares had fallen by 23.4% this quarter and
lost 24.8% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 32.2%
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," 3
"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
0.70 
This summary was machine generated from LSEG data November 12 at
03:27 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
 Sep. 30 2024      -0.09          -0.10          Missed
 Jun. 30 2024      -0.09          -0.09          Met
 Mar. 31 2024      -0.09          -0.09          Met
 Dec. 31 2023      -0.07          -0.08          Missed