ISun plunges as Q3 net loss widens

iSun

15/11/2022 14:18

** Shares of solar engineering and construction firm iSun
Inc  ISUN.O  down 16.7% at $1.95 premarket
    ** Stock will open at its lowest in three weeks, if losses
hold
    ** Co's Q3 net loss widens to $4.9 mln, or 36 cents/shr,
from $656,000, or 8 cents/shr, last year, hurt by a surge in
costs
    ** ISUN cuts its FY revenue forecast to $70 mln-$75 mln from
$125 mln, which is lower than analysts' estimates of $102 mln
    ** Co expects persistent supply chain constraints that
affect availability of key materials in the solar industry to
lead to project extensions
    ** Shares down 60.7% YTD, as of last close
 (Reporting by Ankit Kumar in Bengaluru)
 ((Ankit.Kumar2@thomsonreuters.com))