FTC Solar: Q1 Earnings Snapshot

AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — FTC Solar Inc. (FTCI) on Friday reported a loss of $8.8 million in its first quarter.

The Austin, Texas-based company said it had a loss of 7 cents per share. Losses, adjusted for one-time gains and costs, came to 9 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 9 cents per share.

The solar tracking systems maker posted revenue of $12.6 million in the period, which topped Street forecasts. Five analysts surveyed by Zacks expected $12.5 million.

For the current quarter ending in June, FTC Solar said it expects revenue in the range of $10.5 million to $15.5 million.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FTCI at https://www.zacks.com/ap/FTCI

Copyright © 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.

Federal News Network Logo
Log in to your WTOP account for notifications and alerts customized for you.

Sign up