ClearSign Technologies Q2 revenue rises on burner sales growth
ClearSign Technologies Q2 revenue rises on burner sales growth
Overview
US combustion tech firm's Q2 revenue rose yr/yr but missed analyst expectations
Company posted Q2 net loss, narrowing from prior year
Company appointed former ExxonMobil executive Larry Saddler to board
Outlook
Company did not provide specific financial guidance for the current or future periods
Result Drivers
BURNER SALES - Co said M Series midstream burners are gaining market traction, with six sold to two major operators in West Texas
GROWING PIPELINE - Co reported increasing customer interest and a growing pipeline of proposals for process burner and flare product lines
NEW ORDERS - Co received multiple new orders for M1 Series burners and advanced to the next phase of a 32-burner project for a California refinery
Company press release: ID:nACSwpnXva
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue |
| $560,000 | $612,500 (2 Analysts) |
Q2 Loss Per Share |
| $0.22 |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the industrial machinery & equipment peer group is "buy"
Wall Street's median 12-month price target for ClearSign Technologies Corp is $20.00, about 328.3% above its August 18 closing price of $4.67
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)