FTC Solar Q1 2024 GAAP EPS $(0.09), Inline, Sales $12.587M Miss $12.906M Estimate
Portfolio Pulse from Benzinga Newsdesk
FTC Solar (NASDAQ:FTCI) reported Q1 2024 GAAP EPS of $(0.09), meeting analyst consensus estimates but missed sales forecasts with $12.587M against a $12.906M estimate. This represents a 69.22% decrease in sales compared to the same period last year.
May 10, 2024 | 10:33 am
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NEGATIVE IMPACT
FTC Solar reported Q1 2024 earnings with EPS in line with estimates but sales below expectations, showing a significant year-over-year decline.
FTC Solar's earnings report showing sales missing estimates and a significant decrease in sales compared to the previous year is likely to negatively impact investor sentiment in the short term. The alignment of EPS with estimates may provide some stability, but the substantial sales miss and year-over-year decline are critical factors that could drive the stock price down.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100