FTC Solar: Q3 Earnings Snapshot

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AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — FTC Solar Inc. (FTCI) on Tuesday reported a loss of $15.4 million in its third quarter.

The Austin, Texas-based company said it had a loss of 12 cents per share. Losses, adjusted for stock option expense and non-recurring costs, were 10 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 8 cents per share.

The solar tracking systems maker posted revenue of $10.1 million in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $9.9 million.

For the current quarter ending in December, FTC Solar said it expects revenue in the range of $10 million to $14 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