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

Stem

06/08/2024 23:26

* Stem Inc  STEM.N  reported a quarterly adjusted loss of 22
cents​​ per share for the quarter ended in June, higher than the
same quarter last year, when the company reported EPS of -26
cents.  The mean expectation of eleven analysts for the quarter
was for a loss of 23 cents per share. Wall Street expected
results to range from -25 cents to -19 cents per share.
    * Revenue fell 63.4% to $34.00 million from a year ago;
analysts
expected $64.95 million. 
    * Stem Inc's reported EPS for the quarter was a loss of
$3.59​.
    * The company reported a quarterly loss of $582.27 million.
    * Stem Inc shares had fallen by 10.7% this quarter and
lost 74.4%
so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 4.5%
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 "hold"
and
the breakdown of recommendations is 5 "strong buy" or "buy," 9
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the renewable
energy
equipment & services peer group is also "hold"

Wall Street's median 12-month price target for Stem Inc is $1.95
This summary was machine generated from LSEG data August 6 at
10:26 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      -0.23          -0.22          Beat
 Mar. 31 2024      -0.21          -0.46          Missed
 Dec. 31 2023      -0.14          -0.24          Missed
 Sep. 30 2023      -0.18          -0.49          Missed