REE Automotive Q2 Adj $(0.97) Beats $(1.51) Estimate, Company Ends Q2 With Liquidity Of $60.5M
Portfolio Pulse from Benzinga Newsdesk
REE Automotive reported a Q2 loss of $(0.97) per share, beating the analyst estimate of $(1.51). The company ended Q2 with $60.5M in liquidity, despite a significant year-over-year increase in losses.
September 26, 2024 | 10:39 am
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REE Automotive's Q2 loss of $(0.97) per share was better than the expected $(1.51), indicating better-than-expected performance. However, the loss increased significantly from the previous year. The company maintains $60.5M in liquidity.
The better-than-expected earnings per share (EPS) suggests positive short-term sentiment, potentially leading to a stock price increase. However, the significant increase in losses from the previous year may temper long-term investor enthusiasm. The liquidity position of $60.5M provides some financial stability.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100