FTC Solar (FTCI) to Report Q1 Earnings: What's in the Cards?

FTC Solar, Inc. FTCI is slated to report first-quarter 2022 results on May 10 before the opening bell.

In the last reported quarter, the company witnessed a negative earnings surprise of 41.67%. In the trailing four quarters, FTC Solar delivered a negative earnings surprise of 32.77%, on average.

Factors to Note

FTC Solar’s newly launched turnkey DG offering is anticipated to have favorably impacted FTCI’s top line in the soon-to-be-reported quarter. Additionally, the continued strong customer growth in engineering, procurement and construction is expected to have added impetus to its top line.

However, revenues may have been impacted by seasonality and variability related to the timing of construction activity.

The Zacks Consensus Estimate for first-quarter revenues is pegged at $57 million, suggesting a decline of 13.3% from the year-ago reported figure.

From the cost perspective, escalated overhead expenses, along with higher logistics, may have adversely impacted its first-quarter earnings. However, higher-margin offerings by FTC Solar, along with various cost control measures, may have partially offset the adverse cost impact on its first-quarter earnings.

The Zacks Consensus Estimate for FTCI’s first-quarter earningsis pegged at a loss of 12 cents per share,suggesting deteriorationfrom the year-ago quarter’s reported figure.

FTC Solar, Inc. Price and EPS Surprise

FTC Solar, Inc. Price and EPS Surprise

FTC Solar, Inc. price-eps-surprise | FTC Solar, Inc. Quote

What the Zacks Model Unveils

Our proven model does not conclusively predict an earnings beat for FTC Solar this time. The combination of a positive Earnings ESPand a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here as you will see.

The company has an Earnings ESP of -6.38% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Upcoming Releases

Here are three solar players yet to release their first-quarter numbers:

ReneSola SOL: The Zacks Consensus Estimate for ReneSola’s first-quarter earnings is pegged at a loss of 6 cents per share. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for its first-quarter sales, pegged at $3.9 million, suggests a decline of 82.7% from the prior-year figure. SOL has a four-quarter earnings surprise of 94.17%, on average.

Canadian Solar CSIQ: The Zacks Consensus Estimate for Canadian Solar’s first-quarter sales is pegged at $1.29 billion.

The Zacks Consensus Estimate for Canadian Solar’s first-quarter earnings is pegged at a loss of 17 cents per share.CSIQ has a four-quarter earnings surprise of 66.18%, on average.

Sunworks, Inc. SUNW: The Zacks Consensus Estimate for Sunworks’ first-quarter sales is pegged at $28.7 million.

The Zacks Consensus Estimate for Sunworks’ first-quarter earnings is pegged at a loss of 26 cents per share. SUNWhas a four-quarter negative earnings surprise of 48.45%, on average.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.

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Renesola Ltd. (SOL) : Free Stock Analysis Report

Canadian Solar Inc. (CSIQ) : Free Stock Analysis Report

Sunworks, Inc. (SUNW) : Free Stock Analysis Report

FTC Solar, Inc. (FTCI) : Free Stock Analysis Report

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