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FTC Solar Q3 revenue slightly beats estimates on project wins

By Reuters News


Overview

  • U.S. solar tracker supplier's Q3 revenue rose 25% q/q, slightly beating analyst expectations

  • Company expects Q4 revenue to grow 46% sequentially at midpoint of guidance

  • FTC Solar secured major new project wins in North America, India, and Europe


Outlook

  • FTC Solar expects Q4 revenue between $44 mln and $52 mln

  • Company targets sequential revenue growth in Q1 2027 and Adjusted EBITDA profitability

  • FTC Solar anticipates significant revenue growth and full-year profitability in 2027


Result Drivers

  • PROJECT WINS - Co said significant new project awards across North America, India, and Europe contributed to Q3 results

  • PRODUCTIVITY GAINS - Co cited AI and robotics enhancements as improving current and future productivity

  • INSTALLATION SPEED - Co highlighted independent validation that its tracker installs in 81 labor hours per megawatt, calling speed a competitive advantage


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Beat*

$32.81 mln

$32.76 mln (3 Analysts)

Q3 Adjusted Loss Per Share

Miss

$0.44

$0.41 (2 Analysts)

Q3 Adjusted Net Loss

$7.56 mln

Q3 Adjusted Gross Margin

8.40%

*Applies to a deviation of less than 1%; not applicable for per-share numbers.


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the electrical components & equipment peer group is "buy"

  • Wall Street's median 12-month price target for FTC Solar Inc is $7.00, about 382.8% above its November 3 closing price of $1.45


Reuters Recommended Reads

  • Nov 3 - Primoris Services Q3 revenue falls on lower renewables revenue

  • Nov 3 - Everus Construction Q3 revenue beats on data center demand

  • Nov 3 - Navitas Semiconductor Q3 revenue beats estimates on rising demand from AI data centers and grid infrastructure


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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