FTC Solar: Q2 Earnings Snapshot

AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — FTC Solar Inc. (FTCI) on Thursday reported a loss of $12.2 million in its second quarter.

The Austin, Texas-based company said it had a loss of 10 cents per share. Losses, adjusted for stock option expense and amortization costs, came to 9 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 9 cents per share.

The solar tracking systems maker posted revenue of $11.4 million in the period, which did not meet Street forecasts. Five analysts surveyed by Zacks expected $13.1 million.

For the current quarter ending in September, FTC Solar said it expects revenue in the range of $9 million to $11 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