FTC Photo voltaic Publicizes First Quarter 2021 Outcomes Date

AUSTIN, Texas, Could 17, 2021 (GLOBE NEWSWIRE) – FTC Photo voltaic, Inc. (Nasdaq: FTCI), a worldwide supplier of photo voltaic monitoring techniques, expertise, software program and engineering companies, immediately introduced that ” it can report its monetary report for the primary quarter of 2021 earlier than market outcomes on Tuesday, June 8, 2021.

A convention name for members of the funding neighborhood can be held at 8:30 a.m. ET on the identical day, throughout which the Firm will talk about its first quarter 2021 outcomes, outlook and different enterprise parts. This name can be webcast and might be considered within the Investor Relations part of the FTC Photo voltaic company web site at investor.ftcsolar.com. A replay of the convention name may also be obtainable on the web site for 30 days after the webcast.

Previous to the decision, FTC Photo voltaic President and CEO Anthony Etnyre immediately issued the next assertion relating to the corporate’s first quarter 2021 outcomes and the present provide chain surroundings:

“We had been happy to turn out to be a publicly traded firm final month, and now look ahead to reporting our first quarter 2021 outcomes and sharing, for the primary time, info on our enterprise outlook going ahead.

“Forward of this dialogue, we’re actually conscious of the numerous considerations related to growing prices for commodities, particularly for metal, and growing logistics prices for worldwide imports. As mentioned intimately in our supplies IPO, FTC Photo voltaic is just not immune to those pressures, and we’ve seen metal and logistics costs proceed to rise since then. Nevertheless, we’re completely satisfied to report that through the first quarter of 2021, the monetary impression of those elements on our efficiency was manageable. The impacts for the primary quarter of 2021 are primarily associated to the switch of a small quantity of income from the primary quarter to the second quarter resulting from a delay in provider manufacturing, in addition to a slight enhance in bills reflecting the share of extra logistics prices that weren’t handed on to prospects.

“At FTC Photo voltaic, we at present shouldn’t have any multi-project buyer agreements with unsecured or uncovered metal legal responsibility. Our technique has been to lock within the pricing of our merchandise on a project-by-project foundation so as to align our uncooked materials prices with the costs we provide to prospects. Earlier this yr, we additionally broadened and strengthened our world provider base that spans 13 international locations, bettering our capability to supply all needed provides for current and deliberate tasks.

“Whereas we didn’t see a major impression on our enterprise from these elements within the first quarter of 2021, we proceed to watch the worldwide commodity and logistics surroundings. Specifically, whereas we anticipate that growing product and logistics prices will end in increased costs for patrons as a part of their agreements with us, we proceed to watch the general impression of those increased prices, in addition to increased prices for different photo voltaic venture supplies not bought by FTC. Photo voltaic modules, for instance, will tackle shoppers and their venture growth timelines. We’re exploring extra alternatives to restrict the impression of rising metal and uncooked materials costs on our prospects. Within the meantime, our quantity of orders taken and awarded has continued to develop, we proceed to make progress in implementing our value discount roadmap and our steadiness sheet was lately strengthened by elevating roughly $ 181 million through the yr. of the IPO and establishing a revolver of $ 100 million every with none debt. We imagine we’re positioning ourselves additional to capitalize on the numerous development alternatives that we see forward. “

About FTC Photo voltaic, Inc.
Based in 2017 by a bunch of renewable power {industry} veterans, FTC Photo voltaic is a quickly rising world supplier of photo voltaic monitoring techniques, expertise, software program and engineering companies. Photo voltaic trackers dramatically enhance power manufacturing in photo voltaic installations by dynamically optimizing the orientation of photo voltaic panels relative to the solar. FTC Photo voltaic’s progressive tracker designs ship uncompromising efficiency and reliability, with an industry-leading value per watt set up benefit.

Ahead-looking statements
This press launch accommodates forward-looking statements. These statements should not historic information, however moderately are primarily based on our present expectations and projections relating to our enterprise, operations and different elements relating thereto. Phrases akin to “might”, “will”, “may”, “would”, “ought to”, “anticipate”, “predict”, “potential”, “proceed”, “count on”, “has the intention ”,“ plans ”,“ plans ”,“ believes ”,“ estimates ”and comparable expressions are used to establish these forward-looking statements. These statements are solely predictions and, as such, should not ensures of future efficiency and contain dangers, uncertainties and assumptions which can be tough to foretell. Precise outcomes might differ materially from these of forward-looking statements resulting from plenty of elements, together with these described in additional element in our filings with america Securities and Change Fee, together with the part entitled ” Threat Components ”contained therein.

FTC Photo voltaic assumes no obligation or obligation to replace any forward-looking statements contained on this press launch on account of new info, future occasions, or modifications in its expectations, besides as required by legislation.

FTC Photo voltaic investor contact:
Invoice Michalek
Vice President, Investor Relations
Photo voltaic FTC
T: (737) 241-8618
E: [email protected]

Contact FTC Photo voltaic Media:
Scott Deitz
For FTC Photo voltaic
T: (336) 908-7759

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