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

• ESS Tech Inc GWH.N reported a quarterly adjusted loss of $1.50​​ per share for the quarter ended March 31, identical to the same quarter last year. The mean expectation of three analysts for the quarter was for a loss of $1.24 per share. Wall Street expected results to range from $-1.66 to -75 cents per share.

• Revenue fell 78.1% to $599.00 thousand from a year ago; analysts expected $3.45 million.

• ESS Tech Inc's reported EPS for the quarter was a loss of $1.50​.

• The company reported a quarterly loss of $18.03 million.

• ESS Tech Inc shares had fallen by 16.0% this quarter and lost 53.4% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 14.2% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy," 4 "hold" and no "sell" or "strong sell." The average consensus recommendation for the electrical components & equipment peer group is "buy."

• Wall Street's median 12-month price target for ESS Tech Inc is $3.00

This summary was machine generated from LSEG data May 15 at 09:01 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)