ESS Tech Inc reports results for the quarter ended September 30 - Earnings Summary

ESS Tech

15/11/2024 09:37

* ESS Tech Inc  GWH.N  reported a quarterly adjusted loss of
$1.90​​ per share for the quarter ended September 30, lower than
the same quarter last year, when the company reported EPS of
$-1.65.  The mean expectation of seven analysts for the quarter
was for a loss of $1.26 per share. Wall Street expected
results to range from $-2.10 to -15 cents per share.
    * Revenue fell 76.8% to $359.00 thousand from a year ago;
analysts
expected $5.63 million. 
    * ESS Tech Inc's reported EPS for the quarter was a loss of
$1.90​.
    * The company reported a quarterly loss of $22.49 million.
    * ESS Tech Inc shares had risen by 16.0% this quarter and
lost 57.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 18.5%
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 "hold"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the electrical
components & equipment peer group is also "hold"

Wall Street's median 12-month price target for ESS Tech Inc is
10.00 
This summary was machine generated from LSEG data November 15 at
09:37 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
 Sep. 30 2024      -1.26          -1.90          Missed
 Jun. 30 2024      -1.53          -1.80          Missed
 Mar. 31 2024      -1.69          -1.50          Beat
 Dec. 31 2023      -1.65          -1.35          Beat