Hyzon Motors Shares Slide After Q2 Results, Misses Profit Estimate
Portfolio Pulse from Akanksha Bakshi
Hyzon Motors Inc (NASDAQ:HYZN) reported a Q2 FY23 net loss of $60.2 million, compared to a net income of $41.99 million in 2Q22. The company's EPS fell to $(0.25), missing the consensus of $(0.18). Total operating expenses doubled to $64.10 million. The company's adjusted EBITDA loss expanded to $(33) million. HYZN's shares are trading lower by 13.1%.
August 08, 2023 | 2:53 pm
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Hyzon Motors reported a larger than expected loss for Q2 FY23, with operating expenses doubling. The company's shares are trading lower.
Hyzon Motors reported a net loss for Q2 FY23, which was larger than expected. This, coupled with the doubling of operating expenses, has negatively impacted investor sentiment, leading to a drop in the company's share price.
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