Vicinity Motor Q3 2023 EPS $(0.10) Misses $(0.06) Estimate, Sales $6.49M Miss $11.02M Estimate
Portfolio Pulse from vinayak@benzinga.com
Vicinity Motor Corp. (NASDAQ:VEV) reported Q3 2023 earnings per share (EPS) of $(0.10), missing the $(0.06) estimate by 66.67%, and sales of $6.49M, missing the $11.02M estimate by 41.10%. Despite the miss, this represents a 47.37% improvement in EPS and a 328.45% increase in sales compared to the same period last year.
November 13, 2023 | 9:13 pm
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NEGATIVE IMPACT
Vicinity Motor Corp. reported lower-than-expected Q3 2023 earnings and sales, missing estimates significantly, which could negatively impact investor sentiment and the stock price in the short term.
Earnings and sales misses are critical factors for stock performance. VEV's significant miss on both fronts is likely to disappoint investors, leading to a potential drop in stock price as the market adjusts to the new information. The year-over-year improvement may provide some cushion, but the immediate reaction to missed estimates is typically negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100