Zeo Energy Corp. Q4 2023 EPS $(0.14) Vs $1.08 YoY; Revenue $23.4M Vs $22.9M YoY
Portfolio Pulse from Benzinga Newsdesk
Zeo Energy Corp. reported its Q4 2023 financial results, showing a slight revenue increase to $23.4M from $22.9M YoY but a shift to a net loss of $0.1M from a net income of $1.1M YoY. The full year results also saw revenue growth to $110.1M, up 23.7% YoY, though net income fell to $6.2M from $8.7M. The decrease in net income for both periods was attributed to costs related to new technology launches, legal and consulting expenses, and one-time costs associated with a Business Combination.
March 19, 2024 | 12:35 pm
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Zeo Energy Corp. reported a revenue increase in Q4 2023 but shifted to a net loss due to higher costs and expenses. Full year results also showed revenue growth but a decrease in net income.
The shift from net income to a net loss in Q4 2023 and the decrease in net income for the full year, despite revenue growth, could concern investors. The costs associated with new technology launches and the Business Combination are likely to be viewed negatively in the short term.
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