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Tecogen Q3 revenue beats estimates on Services segment growth

By Reuters News


Overview

  • U.S. clean energy equipment maker's Q3 revenue rose 9.6%, beating analyst expectations

  • Net loss for Q3 narrowed year-over-year to $1.59 mln

  • Gross margin improved by 7 percentage points on higher services revenue and operational gains


Outlook

  • Tecogen says backlog exceeds $8 mln, mostly from large property owners and energy services firms

  • Company expects higher utility rates and power shortages to accelerate demand for its products

  • Tecogen says new retrofit technology for data centers may support margin growth and faster scaling


Result Drivers

  • SERVICES SEGMENT GROWTH - Co said higher services revenue, driven by acquired Aegis maintenance contracts and increased revenues from existing service contracts, contributed to improved results

  • HIGHER CHILLER REVENUE - Co said increased chiller revenue drove product revenue growth, partially offset by lower cogeneration and engineered accessories revenue


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

$7.87 mln

$6.41 mln (3 Analysts)

Q3 Net Loss

$1.59 mln

Q3 Income from Operations

-$1.57 mln

Q3 Operating Expenses

$4.51 mln


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 Tecogen Inc is $7.50, about 341.2% above its November 11 closing price of $1.70

  • The stock recently traded at 440 times the next 12-month earnings vs. a P/E of 456 three months ago


Reuters Recommended Reads

  • Nov 9 - AI power rush sends data centres hunting for used turbines and jet engines

  • Nov 10 - Singapore's Bitdeer Q3 revenue beats estimates on AI cloud growth

  • Nov 9 - Aaon Q3 revenue jumps 84%, beats analyst estimates on strong data-center demand


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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