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

• 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)