Eos Energy Enterprises Non-GAAP EPS of -$0.44 misses by $0.28, revenue of $0.9M misses by $5.79M
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Contributor since / Followers
Contributor since / Followers
2 months ago
- Eos Energy Enterprises press release (NASDAQ:EOSE): Q3 Non-GAAP EPS of -$0.44 misses by $0.28.
- Revenue of $0.9M (+28.6% Y/Y) misses by $5.79M.
- 2024 Outlook: The Company continues to forecast positive contribution margin by year-end. Contribution margin is defined as sales price less direct labor and direct materials and includes the benefit of the production tax credits.
- As a result of the enclosure supply chain bottleneck and its impact on Eos’ second half 2024 shipments, the Company expects to recognize approximately $15 million in revenue for the full year 2024. The difference between Eos’ prior and current guidance is expected to be shipped and recognized in the first half of 2025. The Company has secured a no fee waiver on the September 30 revenue covenant under the credit and guaranty agreement with its strategic partner, Cerberus. The Company anticipates a similar waiver or amendment for its December 31 revenue covenant.
- Shares -8.18%.