Vicinity Motor Q1 EPS $(0.08) Misses $(0.05) Estimate, Sales $13.23M Miss $15.12M Estimate
Portfolio Pulse from Benzinga Newsdesk
Vicinity Motor (NASDAQ:VEV) reported Q1 earnings with a loss of $(0.08) per share, missing the $(0.05) estimate, and sales of $13.23M, below the $15.12M estimate. Despite this, sales increased by 399.58% compared to last year.

May 14, 2024 | 8:25 pm
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NEGATIVE IMPACT
Vicinity Motor reported a larger than expected quarterly loss and missed sales estimates, but showed a significant increase in sales compared to the previous year.
Missing both EPS and sales estimates typically leads to negative investor sentiment in the short term, potentially driving the stock price down. However, the significant increase in sales year-over-year may mitigate some negative impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100