REE Automotive Q1 Adj $(1.96) Misses $(1.60) Estimate, Sales $160.00K Miss $550.00K Estimate
Portfolio Pulse from Benzinga Newsdesk
REE Automotive (NASDAQ:REE) reported Q1 losses of $(1.96) per share, missing the analyst estimate of $(1.60) by 22.5%. Sales were $160K, missing the $550K estimate by 70.91%. Despite the miss, losses improved by 18.67% from the same period last year.
May 30, 2024 | 10:35 am
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REE Automotive reported Q1 losses of $(1.96) per share, missing the analyst estimate of $(1.60) by 22.5%. Sales were $160K, missing the $550K estimate by 70.91%. Despite the miss, losses improved by 18.67% from the same period last year.
The significant miss on both earnings and sales estimates is likely to negatively impact REE's stock price in the short term. However, the improvement in losses year-over-year may provide some cushion.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100