Microvast Holdings Inc reports results for the quarter ended in June - Earnings Summary

Microvast Holdings

09/08/2024 20:58

* Microvast Holdings Inc  MVST.OQ  reported a quarterly
adjusted
loss of 21 cents​​ per share for the quarter ended in June,
lower than the same quarter last year, when the company reported
EPS of -2 cents.  The mean expectation of three analysts for the
quarter was for a loss of 7 cents per share. Wall Street
expected results to range from -8 cents to -6 cents per share.
    * Revenue rose 11.6% to $83.68 million from a year ago;
analysts
expected $92.35 million. 
    * Microvast Holdings Inc's reported EPS for the quarter was
a loss
of 8 cents​.
    * The company reported a quarterly loss of $78.44 million.
    * Microvast Holdings Inc shares had fallen by 13.1% this
quarter and lost 71.7% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 6.7%
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 2 "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 Microvast
Holdings Inc is $3.00 
This summary was machine generated from LSEG data August 9 at
07:58 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
 Jun. 30 2024      -0.07          -0.21          Missed
 Mar. 31 2024      -0.07          -0.04          Beat
 Dec. 31 2023      -0.07          -0.08          Missed
 Sep. 30 2023      -0.06          -0.03          Beat