ESS Tech Q2 2024 GAAP EPS $(0.12) Misses $(0.10) Estimate, Sales $348.00K Miss $3.49M Estimate
Portfolio Pulse from Benzinga Newsdesk
ESS Tech (NYSE:GWH) reported Q2 2024 GAAP EPS of $(0.12), missing the $(0.10) estimate. Sales were $348K, significantly below the $3.49M estimate and down 87.69% from last year's $2.83M.
August 14, 2024 | 8:09 pm
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NEGATIVE IMPACT
ESS Tech reported a significant earnings miss with Q2 2024 GAAP EPS of $(0.12) missing the $(0.10) estimate and sales of $348K missing the $3.49M estimate by a wide margin. Sales also decreased 87.69% YoY.
The significant miss on both EPS and sales estimates, along with a drastic YoY sales decline, is likely to negatively impact investor sentiment and the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100