10:18 AM EDT, 03/15/2024 (MT Newswires) -- (Adds share price decline in first, last paragraphs)

Altus Power ( AMPS ) shares slumped Friday after overnight reporting a wider Q4 loss than analysts were expecting and revenue also lagging the consensus estimate.

The solar-energy infrastructure company late Thursday reported a Q4 loss of $0.17 per diluted share, compared with earnings of $0.42 per share a year earlier.

Analysts surveyed by Capital IQ expected a loss of $0.02.

Net operating revenue for the quarter ended Dec. 31 was $34.2 million, up from $26.8 million a year earlier.

Analysts surveyed by Capital IQ expected $44.3 million.

The company said it expects full-year 2024 revenue of $200 million to $222 million. Analysts surveyed by Capital IQ expect $221.6 million.

Shares of the company fell more than 18% in early Friday trading.

Price: 4.85, Change: -1.09, Percent Change: -18.35