ESS Tech Inc reports results for the quarter ended in December - Earnings Summary

ESS Tech

13/03/2024 21:38

* ESS Tech Inc  GWH.N  reported a quarterly adjusted loss
of 9
cents​​ per share for the quarter ended in December, higher than
the same quarter last year, when the company reported EPS of -16
cents.  The mean expectation of seven analysts for the quarter
was for a loss of 11 cents per share. Wall Street expected
results to range from -16 cents to -4 cents per share.
    * Revenue rose 17,375% to $2.80 million from a year ago;
analysts
expected $3.54 million. 
    * ESS Tech Inc's reported EPS for the quarter was a loss
of 9
cents​.
    * The company reported a quarterly loss of $16.13 million.
    * ESS Tech Inc shares had fallen by 28.1% this quarter.

FORECAST CHANGES
    * The mean earnings estimate of analysts was unchanged in
the last
three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," 3
"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 ESS Tech Inc is
$2.50 
This summary was machine generated from LSEG data March 13 at
09:37 p.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      -0.11          -0.09          Beat
 Sep. 30 2023      -0.13          -0.11          Beat
 Jun. 30 2023      -0.15          -0.15          Met
 Mar. 31 2023      -0.18          -0.14          Beat