REE Automotive Ltd reports results for the quarter ended in December - Earnings Summary

REE Automotive

27/03/2024 13:31

* REE Automotive Ltd  REE.OQ  reported a quarterly adjusted
loss
of $3.15​​ per share for the quarter ended in December, lower
than the same quarter last year, when the company reported EPS
of $-2.10.  The mean expectation of four analysts for the
quarter was for a loss of $2.38 per share. Wall Street expected
results to range from $-2.99 to $-1.96 per share.
    * Revenue was $455.00 thousand​; analysts expected $1.35
million. 
    * REE Automotive Ltd's reported EPS for the quarter was a
loss of
$3.44​.
    * The company reported a quarterly loss of $35.23 million.
    * REE Automotive Ltd shares had risen by 22.2% 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 3 "strong buy" or "buy," no
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the auto, truck &
motorcycle parts peer group is  "hold."

Wall Street's median 12-month price target for REE Automotive
Ltd is $11.00 
This summary was machine generated from LSEG data March 27 at
01:31 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      -2.38          -3.15          Missed
 Sep. 30 2023      -3.63          -1.99          Beat
 Jun. 30 2023      -2.10          -2.10          Met
 Mar. 31 2023      -2.00          -2.40          Missed