Tecogen Q4 revenue falls, net loss widens

Overview

• US clean energy products maker's Q4 revenue fell 12.5% yr/yr, net loss widened

• Revenue decline due to reduced chiller and cogeneration sales in Q4

• Wider net loss driven by increased operating expenses and asset impairment

Outlook

• Company did not provide specific guidance for current or future periods

Result Drivers

• PRODUCT REVENUE DROP - Q4 revenue decline attributed to reduced chiller and cogeneration sales

• HIGHER OPERATING EXPENSES - Increased payroll, benefits, recruitment, freight costs, sales commissions, and asset impairment drove up operating expenses

• GROSS MARGIN PRESSURE - Gross margin declined due to increased labor and material costs in Services and lower Energy Production margins

Company press release: ID:nACShdLRra

Key Details

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• 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 $15.00, about 428.2% NOT AVAILABLE its March 17 closing price of $2.84

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.