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

REE Automotive

30/05/2024 14:51

* REE Automotive Ltd  REE.OQ  reported a quarterly adjusted
loss
of $1.96​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of
$-2.40.  The mean expectation of four analysts for the quarter
was for a loss of $1.60 per share. Wall Street expected
results to range from $-1.90 to -93 cents per share.
    * Revenue was $160.00 thousand​; analysts expected $550.00
thousand. 
    * REE Automotive Ltd's reported EPS for the quarter was a
loss of
$2.28​.
    * The company reported a quarterly loss of $25.18 million.
    * REE Automotive Ltd shares had fallen by 19.5% this
quarter and
lost 8.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 23.5%
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 "buy"
and
the breakdown of recommendations is 4 "strong buy" or "buy," no
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the auto, truck &
motorcycle parts peer group is also "buy"

Wall Street's median 12-month price target for REE Automotive
Ltd is $14.50 
This summary was machine generated from LSEG data May 30 at
01:51 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
 Mar. 31 2024      -1.60          -1.96          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