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Acorn Energy (ACFN)
OTHER OTC:ACFN
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Earnings Data
Report Date
Mar 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
―Last Year’s EPS
$0.03Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 07, 2024
|% Change Since: 27.57%
|Next Earnings Date:Mar 26, 2025
Earnings Call Sentiment|Positive
The earnings call presented a strong performance with record revenue and EPS growth, driven by a significant new contract and high renewal rates. However, there were some concerns over gross margin declines and challenges in the cathodic protection segment. Overall, the company's financial health and future prospects appear robust.Company Guidance
During the Acorn Energy Q3 2024 earnings call, the company's guidance highlighted significant growth and operational achievements. Acorn reported a 46.1% increase in Q3 revenue to $3.05 million and a 28.4% rise to $7.46 million for the first nine months of 2024. Earnings per share (EPS) for Q3 2024 soared to $0.29 from $0.01 in the same quarter last year. The company's strategic focus on high-margin, recurring revenue streams from remote monitoring services, alongside its proprietary hardware sales, has driven profitability and operational leverage. Notably, a substantial $5 million contract for monitoring hardware and services with a major telecom provider contributed $724,000 to the quarter's hardware revenue. Despite the strong results, the company anticipates further growth opportunities, particularly through expanding its customer base and enhancing its technological offerings. Looking ahead, Acorn aims to maintain its momentum by leveraging its competitive advantages and exploring new market opportunities, while also managing a cash position of $2.1 million and no debt.Record Revenue Growth
Revenue rose 46.1% to $3.05 million in Q3 and 28.4% to $7.46 million for the first 9 months of 2024.
Significant EPS Increase
Q3 2024 EPS increased to $0.29 from $0.01 in Q3 2023; first 9 months EPS rose to $0.42 from $0.01 in the prior year.
Large New Contract
Executed a 2-year, approximately $5 million contract to provide remote monitoring hardware and services for cell tower generators.
Strong Renewal Rates
Maintained a 90-plus percent renewal rate on monitoring services.
Cash Position and Debt Status
Cash position improved to $2.2 million at quarter end with no debt.
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ACFN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ACFN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $14.11 | $15.81 | +12.05% |
| Aug 08, 2024 | $9.25 | $9.50 | +2.70% |
| May 09, 2024 | $10.25 | $10.25 | 0.00% |
| Mar 07, 2024 | $6.20 | $7.00 | +12.90% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Acorn Energy (ACFN) report earnings?
Acorn Energy (ACFN) is schdueled to report earning on Mar 26, 2025, TBA Not Confirmed.
What is Acorn Energy (ACFN) earnings time?
Acorn Energy (ACFN) earnings time is at Mar 26, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ACFN EPS forecast?
Currently, no data Available
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