REE Automotive Ltd reports results for the quarter ended September 30 - Earnings Summary

REE Automotive

17/12/2024 14:32

* REE Automotive Ltd  REE.OQ  reported a quarterly adjusted
loss
of $1.12​​ per share for the quarter ended September 30, higher
than the same quarter last year, when the company reported EPS
of $-1.99.  The mean expectation of four analysts for the
quarter was for a loss of $1.01 per share. Wall Street expected
results to range from $-1.35 to -70 cents per share.
    * Revenue fell 94.8% to $11.00 thousand from a year ago;
analysts
expected $50.00 thousand. 
    * REE Automotive Ltd's reported EPS for the quarter was a
loss of
$2.56​.
    * The company reported a quarterly loss of $38.49 million.
    * REE Automotive Ltd shares had risen by 55.5% this
quarter and
gained 113.6% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 34.1%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

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 December 17 at
02:31 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
 Sep. 30 2024      -1.01          -1.12          Missed
 Jun. 30 2024      -1.51          -0.97          Beat
 Mar. 31 2024      -1.60          -1.96          Missed
 Dec. 31 2023      -2.38          -3.15          Missed