Recap: Vicinity Motor Q4 Earnings
Portfolio Pulse from Benzinga Insights
Vicinity Motor (NASDAQ:VEV) reported Q4 earnings with an EPS of $-0.2, missing estimates by -233.0% against an expected $-0.06. Revenue increased by $3.10 million from the previous year. Despite missing EPS estimates last quarter followed by a 4.0% share price increase, this quarter's performance may impact investor sentiment differently.
April 02, 2024 | 8:45 pm
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NEGATIVE IMPACT
Vicinity Motor reported a significant miss in Q4 earnings with an EPS of $-0.2 against an estimate of $-0.06, but saw an increase in revenue by $3.10 million from the previous year.
The significant miss in estimated earnings by -233.0% is likely to negatively impact investor sentiment in the short term, despite the increase in revenue. Historical context shows that even after missing EPS estimates last quarter, the share price increased by 4.0% the following day, indicating that market reactions can be unpredictable. However, the magnitude of the miss this quarter is substantial, which justifies a negative outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100