Enovix Corp reports results for the quarter ended in December - Earnings Summary

Enovix

21/02/2024 10:56

* Enovix Corp  ENVX.OQ  reported a quarterly adjusted loss
of 28
cents​​ per share for the quarter ended in December, lower than
the same quarter last year, when the company reported EPS of -19
cents.  The mean expectation of twelve analysts for the quarter
was for a loss of 27 cents per share. Wall Street expected
results to range from -34 cents to -21 cents per share.
    * Revenue rose 575.3% to $7.38 million from a year ago;
analysts
expected $3.09 million. 
    * Enovix Corp's reported EPS for the quarter was a loss
of 36
cents​.
    * The company reported a quarterly loss of $59.98 million.
    * Enovix Corp shares had fallen by 5.9% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 4.4%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 12 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electrical
components & equipment peer group is also "buy"

Wall Street's median 12-month price target for Enovix Corp is
$22.00 
This summary was machine generated from LSEG data February 21 at
10:55 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Dec. 31 2023      -0.27          -0.28          Missed
 Sep. 30 2023      -0.23          -0.19          Beat
 Jun. 30 2023      -0.22          -0.19          Beat
 Mar. 31 2023      -0.21          -0.20          Beat