Enovix Corp reports results for the quarter ended March 31 - Earnings Summary

• Enovix Corp ENVX.OQ reported a quarterly adjusted loss of 15 cents​​ per share for the quarter ended March 31, higher than the same quarter last year, when the company reported EPS of -31 cents. The mean expectation of eleven analysts for the quarter was for a loss of 19 cents per share. Wall Street expected results to range from -21 cents to -17 cents per share.

• Revenue fell 3.3% to $5.10 million from a year ago; analysts expected $4.61 million.

• Enovix Corp's reported EPS for the quarter was a loss of 12 cents​.

• The company reported a quarterly loss of $23.51 million.

• Enovix Corp shares had fallen by 7.8% this quarter and lost 37.7% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 5.5% 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 10 "strong buy" or "buy," 2 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electrical components & equipment peer group is also "buy"

• Wall Street's median 12-month price target for Enovix Corp is $19.00

This summary was machine generated from LSEG data April 30 at 09:02 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)