FTC Solar: Q2 Earnings Snapshot
AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — FTC Solar Inc. (FTCI) on Wednesday reported a loss of $10.4 million in its second quarter.
On a per-share basis, the Austin, Texas-based company said it had a loss of 9 cents. Losses, adjusted for stock option expense and non-recurring costs, came to 6 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.
The solar tracking systems maker posted revenue of $32.4 million in the period, also missing Street forecasts. Five analysts surveyed by Zacks expected $47.8 million.
For the current quarter ending in September, FTC Solar said it expects revenue in the range of $24 million to $34 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
