ESS Tech Q2 EPS $(0.15), Inline, Sales $2.83M Miss $4.61M Estimate
Portfolio Pulse from saritha@benzinga.com
ESS Tech (NYSE:GWH) reported Q2 losses of $(0.15) per share, in line with analyst consensus. This is a 50% increase in losses from the same period last year. The company's quarterly sales of $2.83 million missed the analyst consensus estimate of $4.61 million by 38.68%, but represent a 312.10% increase over sales from the same period last year.
August 08, 2023 | 8:39 pm
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NEGATIVE IMPACT
ESS Tech's Q2 results showed increased losses but also a significant increase in sales YoY. However, the sales missed analyst estimates.
ESS Tech's increased losses and missed sales estimates could negatively impact the stock price in the short term. However, the significant YoY increase in sales may mitigate this impact to some extent.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100