FTC Solar First Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

FTC Solar (NASDAQ:FTCI) First Quarter 2024 Results

Key Financial Results

• Revenue: US$12.6m (down 69% from 1Q 2023).
• Net loss: US$8.77m (loss narrowed by 25% from 1Q 2023).
• US$0.07 loss per share (improved from US$0.11 loss in 1Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

FTC Solar EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) exceeded analyst estimates by 35%.

Looking ahead, revenue is forecast to grow 31% p.a. on average during the next 3 years, compared to a 7.5% growth forecast for the Electrical industry in the US.

Performance of the American Electrical industry.

The company's shares are down 14% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 4 warning signs for FTC Solar (2 are a bit concerning!) that you should be aware of.

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