GWH Reports Q2 Loss, Misses Revenue Estimates

Quarterly Performance

GWH (NYSE: GWH) reported a net loss of $0.12 per share for the second quarter of 2024, missing the Zacks Consensus Estimate of a loss of $0.11. Revenue for the quarter was $362 million, falling short of the analyst estimate of $362 million.

Financial Highlights

• Q2 EPS: $0.12, missing the analyst estimate of $0.10
• Revenue: $362 million, below the analyst estimate of $362 million
• Quarterly loss: $0.12 per share, 9.039% worse than the analyst estimate

Conference Call

ESS will hold a conference call on Wednesday, August 14, 2024, at 5:00 pm EDT to discuss the financial results for its second quarter.

Analyst Commentary

Analysts note that GWH's quarterly performance reflects ongoing challenges in the industry. Despite the disappointing results, the company remains optimistic about its long-term prospects. GWH's management team cited several factors contributing to the loss, including increased competition and rising costs.

Conclusion

GWH's second-quarter results fell short of expectations, as the company reported a net loss and missed revenue estimates. Analysts remain cautious about the company's near-term prospects but acknowledge its long-term potential. Investors are advised to closely monitor GWH's progress and evaluate its long-term strategy.