ESS Tech Inc reports results for the quarter ended December 31 - Earnings Summary

• ESS Tech Inc GWH.N reported a quarterly adjusted loss of $1.97​​ per share for the quarter ended December 31, lower than the same quarter last year, when the company reported EPS of $-1.35. The mean expectation of five analysts for the quarter was for a loss of $1.37 per share. Wall Street expected results to range from $-1.67 to $-1.02 per share.

• Revenue rose 1.9% to $2.85 million from a year ago; analysts expected $5.79 million.

• ESS Tech Inc's reported EPS for the quarter was a loss of $1.97​.

• The company reported a quarterly loss of $23.48 million.

• ESS Tech Inc shares had fallen by 43.0% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 2.4% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electrical components & equipment peer group is also "hold"

• Wall Street's median 12-month price target for ESS Tech Inc is $8.50

This summary was machine generated from LSEG data March 31 at 09:00 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)