Eos Energy Enterprises Inc Down 7.82% To $1.65 After Earnings Beat

Tuesday, November 7, 2023 - Eos Energy Enterprises Inc (EOSE) reported upside earnings and downside revenues.

The consensus among analysts for Eos Energy Enterprises Inc was for an earnings per share (EPS) loss of $0.31 per share. The firm was able to surpass those projections, reporting an EPS loss of $0.05 per share, a positive surprise of $0.26 (84%). Profits rose 96% year-over-year after reporting an EPS loss of $1.12 per share in its year-ago quarter. The positive growth rate signals that the Industrials company is performing well amid recent economic conditions.

Revenues were downbeat at $684 thousand. That represents a 88.72% decrease in revenues from the year-ago report and is 84.35% lower than consensus estimates set at $4.4 million.

The stock is down 7.82% to $1.65 after the report.

Eos Energy Enterprises Inc's profit margins took a hit as earnings fell at a faster pace than revenues.

The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Eos Energy Enterprises Inc a Bearish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 54. Meanwhile, the average Wall Street analyst rated the stock a Buy.

Eos Energy Enterprises Inc designs, manufacture, and markets battery storage solutions for the electric utility industry. The solutions are used in the utility sector, the renewable energy sector, and the industrial sector. Its flagship product Eos Znyth is a stationary battery energy storage system.