FTC Solar: Q1 Earnings Snapshot
AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — FTC Solar Inc. (FTCI) on Wednesday reported a loss of $11.8 million in its first quarter.
The Austin, Texas-based company said it had a loss of 11 cents per share. Losses, adjusted for one-time gains and costs, came to 7 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 10 cents per share.
The solar tracking systems maker posted revenue of $40.9 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $38.5 million.
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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
