REE Automotive Shares Fall After Missing Estimates, Widening 3Q Loss

Dow Jones2024-12-18

By Connor Hart

Shares of REE Automotive tumbled after the company widened its net loss and posted lower revenue in the third quarter.

The stock slid 13% to $9.51 in midday trading Tuesday. Shares are up about 75% since the beginning of the year.

The electric-vehicle maker earlier in the day reported a loss of $38.5 million, or $2.56 a share, compared with a loss of $24.1 million, or $2.39 a share, a year earlier.

On an adjusted basis, the company reported a loss of $1.12 a share. Analysts surveyed by FactSet were expecting an adjusted per-share loss of 99 cents.

Revenue fell 95% to $11,000.

Chief Executive Daniel Barel said there is strong and growing demand for the company's technology and products, citing reservations which have more than doubled quarter-over-quarter to $137 million. "We feel very optimistic about what 2025 will bring," he added.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

December 17, 2024 11:51 ET (16:51 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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Shares are up about 75% since the beginning of the year. \n</p>\n<p>\n  The electric-vehicle maker earlier in the day reported a loss of $38.5 million, or $2.56 a share, compared with a loss of $24.1 million, or $2.39 a share, a year earlier. \n</p>\n<p>\n  On an adjusted basis, the company reported a loss of $1.12 a share. Analysts surveyed by FactSet were expecting an adjusted per-share loss of 99 cents. \n</p>\n<p>\n  Revenue fell 95% to $11,000. \n</p>\n<p>\n  Chief Executive Daniel Barel said there is strong and growing demand for the company's technology and products, citing reservations which have more than doubled quarter-over-quarter to $137 million. \"We feel very optimistic about what 2025 will bring,\" he added. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Connor Hart at connor.hart@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  December 17, 2024 11:51 ET (16:51 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>REE Automotive Shares Fall After Missing Estimates, Widening 3Q Loss</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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