REE Automotive Ltd reports results for the quarter ended September 30 - Earnings Summary

• REE Automotive Ltd REE.OQ reported a quarterly adjusted loss of $1.12​​ per share for the quarter ended September 30, higher than the same quarter last year, when the company reported EPS of $-1.99. The mean expectation of four analysts for the quarter was for a loss of $1.01 per share. Wall Street expected results to range from $-1.35 to -70 cents per share.

• Revenue fell 94.8% to $11.00 thousand from a year ago; analysts expected $50.00 thousand.

• REE Automotive Ltd's reported EPS for the quarter was a loss of $2.56​.

• The company reported a quarterly loss of $38.49 million.

• REE Automotive Ltd shares had risen by 55.5% this quarter and gained 113.6% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 34.1% 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 "buy" and the breakdown of recommendations is 4 "strong buy" or "buy," no "hold" and no "sell" or "strong sell."

• The average consensus recommendation for the auto, truck & motorcycle parts peer group is also "buy"

Wall Street's median 12-month price target for REE Automotive Ltd is $14.50

This summary was machine generated from LSEG data December 17 at 02:31 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)