Flux Power Holdings Inc Down 13.13% To $4.19 After Earnings Miss

Friday, September 22, 2023 - Flux Power Holdings Inc (FLUX) reported downside earnings and revenues today.

Flux Power Holdings Inc's earnings came in at an EPS loss of $0.09 per share, 80% lower than estimates for an EPS loss of $0.05 per share. The firm's loss per share narrowed by 47% since reporting a loss of $0.17 per share a year ago.

Consensus estimates for Flux Power Holdings Inc revenue averaged out to $16.4 million, with the business missing on those expectations with reported fourth-quarter revenue of $16.3 million. The $90 thousand (1%) negative revenue surprise led to 7% growth year-over-year as the firm reported revenue of $15.2 million in its year-ago quarter. The higher earnings growth compared to revenue points to Flux Power Holdings Inc improving its profit margin.

The stock is down 13.13% to $4.19 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Strong Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Flux Power Holdings Inc a Bullish Sentiment Rank from InvestorsObserver.

Flux Power Holdings Inc has been a strong performer over the past few months, garnering a high Long-Term Technical Rank by InvestorsObserver of 92, putting Flux Power Holdings Inc in the top 25% of stocks. The firm set a 52-week high on February 13, 2023 at $7.5 and set a 52-week low on September 22, 2022 at $2.41.

Flux Power Holdings Inc designs, develops and sells rechargeable advanced lithium-ion batteries for industrial uses, including UL 2771 listed lithium-ion LiFT Pack forklift batteries. It offers a high power battery cell management system(BMS). The company's BMS provides three functions to its battery systems which include Cell Balancing, Monitoring and Error Reporting.