Tecogen Q4 revenue falls, net loss widens

Reuters03-18
Tecogen Q4 revenue falls, net loss widens

Overview

  • US clean energy products maker's Q4 revenue fell 12.5% yr/yr, net loss widened

  • Revenue decline due to reduced chiller and cogeneration sales in Q4

  • Wider net loss driven by increased operating expenses and asset impairment

Outlook

  • Company did not provide specific guidance for current or future periods

Result Drivers

  • PRODUCT REVENUE DROP - Q4 revenue decline attributed to reduced chiller and cogeneration sales

  • HIGHER OPERATING EXPENSES - Increased payroll, benefits, recruitment, freight costs, sales commissions, and asset impairment drove up operating expenses

  • GROSS MARGIN PRESSURE - Gross margin declined due to increased labor and material costs in Services and lower Energy Production margins

Company press release: ID:nACShdLRra

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q4 Revenue

$5.32 mln

Q4 Net Income

-$3.99 mln

Q4 Gross Margin

36.8%

Q4 Income from Operations

-$4.14 mln

Q4 Operating Expenses

$6.1 mln

Analyst Coverage

  • The one available analyst rating on the shares is "buy"

  • The average consensus recommendation for the electrical components & equipment peer group is "buy"

  • Wall Street's median 12-month price target for Tecogen Inc is $15.00, about 428.2% NOT AVAILABLE its March 17 closing price of $2.84

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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