CBAK Energy Tech Q1 EPS $0.11 Beats $(0.01) Estimate, Sales $58.82M Miss $62.78M Estimate
Portfolio Pulse from Benzinga Newsdesk
CBAK Energy Tech (NASDAQ:CBAT) reported Q1 earnings of $0.11 per share, surpassing the $(0.01) estimate, marking a 1200% beat and a 650% increase from last year's losses of $(0.02) per share. However, Q1 sales of $58.82M fell short of the $62.78M estimate by 6.30%, despite being a 38.74% increase from the previous year.
May 10, 2024 | 10:03 am
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POSITIVE IMPACT
CBAK Energy Tech reported a significant earnings beat and a substantial year-over-year sales increase, despite missing sales estimates.
The substantial earnings beat and year-over-year growth in sales are likely to positively impact investor sentiment towards CBAT in the short term, despite the slight miss on sales estimates. The magnitude of the earnings beat and the growth trajectory could outweigh the negative impact of the sales miss, leading to a positive short-term price direction.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100