FTC Solar Third Quarter 2023 Earnings: Misses Expectations

FTC Solar (NASDAQ:FTCI) Third Quarter 2023 Results

Key Financial Results

• Revenue: US$30.5m (up 84% from 3Q 2022).
• Net loss: US$16.9m (loss narrowed by 34% from 3Q 2022).
• US$0.14 loss per share (improved from US$0.25 loss in 3Q 2022).

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

FTC Solar Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 16%. Earnings per share (EPS) also missed analyst estimates by 45%.

Looking ahead, revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Electrical industry in the US.

Performance of the American Electrical industry.

The company's shares are down 62% from a week ago.

Risk Analysis

Be aware that FTC Solar is showing 4 warning signs in our investment analysis and 1 of those shouldn't be ignored...

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