ESS Tech Q1 2024 GAAP EPS $(0.10) Beats $(0.11) Estimate, Sales $2.738M Miss $3.217M Estimate
Portfolio Pulse from Benzinga Newsdesk
ESS Tech (NYSE:GWH) reported Q1 2024 earnings with a GAAP EPS of $(0.10), beating estimates by 9.09% but missed sales estimates with $2.738M against a forecast of $3.217M. Despite the sales miss, this represents a significant increase in sales and a reduction in losses compared to the same period last year.
May 07, 2024 | 9:20 pm
News sentiment analysis
Sort by:
Ascending
NEUTRAL IMPACT
ESS Tech's Q1 2024 earnings outperformed EPS estimates but fell short on sales forecasts, showing significant year-over-year growth in sales and reduction in losses.
While ESS Tech beat EPS estimates, the miss on sales forecasts could temper investor enthusiasm. However, the substantial year-over-year growth in sales and the reduction in losses indicate underlying business strength, which might balance out the short-term stock price impact.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100