FTC Solar: Q2 Earnings Snapshot

August 9, 2022 GMT

AUSTIN, Texas (AP) _ FTC Solar Inc. (FTCI) on Tuesday reported a loss of $25.7 million in its second quarter.

The Austin, Texas-based company said it had a loss of 26 cents per share. Losses, adjusted for non-recurring costs and stock option expense, were 18 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 16 cents per share.

The solar tracking systems maker posted revenue of $30.7 million in the period, which also missed Street forecasts. Four analysts surveyed by Zacks expected $33.3 million.

For the current quarter ending in October, FTC Solar said it expects revenue in the range of $16.5 million to $19 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