CBAK Energy Tech Q2 EPS $0.07, Inline, Sales $47.79M Miss $62.57M Estimate
Portfolio Pulse from Benzinga Newsdesk
CBAK Energy Tech (NASDAQ:CBAT) reported Q2 earnings per share of $0.07, meeting analyst expectations. However, the company's sales of $47.79 million missed the $62.57 million estimate by 23.62%. Despite this, sales increased by 12.66% compared to the same period last year.
August 09, 2024 | 11:03 am
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CBAK Energy Tech reported Q2 EPS of $0.07, meeting expectations, but sales of $47.79M missed the $62.57M estimate by 23.62%. Sales increased by 12.66% YoY.
The EPS meeting expectations is a positive sign, but the significant miss in sales estimates could offset this. The YoY sales growth is a positive factor, but the market may react neutrally in the short term due to the mixed results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100