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CBAK Energy Technology Inc (CBAT)
NASDAQ:CBAT
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Earnings Data
Report Date
Apr 09, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.01Last Year’s EPS
$0.11Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -23.15%
|Next Earnings Date:Apr 09, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed view with strong performance in the first three quarters, profitability achievements, and significant growth in the light electric vehicles market. However, challenges included a decline in Q3 net revenue and specific segment revenue decreases due to production suspensions.Company Guidance
During the third quarter of 2024, CBAK Energy Technology provided guidance that highlighted several key metrics regarding its battery business. The company reported a net revenue of $33.5 million for the third quarter, with an overall revenue of $114 million for the first nine months, marking an 18.4% year-on-year growth despite a challenging market environment. The gross profit margin reached 34.3% for the first three quarters, a 15.2 percentage point increase from the previous year. The energy storage sector's revenue decreased by 25% to $33.46 million, while EV battery revenue dropped by 17% to $333,000. In contrast, revenue from batteries for light electric vehicles surged by 341% to $4.9 million. The company also reported a net profit of $2.04 million in the third quarter, contributing to a cumulative net profit of approximately $21.6 million across the first three quarters. Additionally, CBAK Energy has received significant orders, including approximately $233 million from Viessmann Group and $45.12 million from Anker. The Nanjing factory, initially expected to incur losses for three years, achieved profitability sooner than anticipated, prompting plans for capacity expansion. The company also announced upcoming production capabilities for new battery models, such as the 40135 and 26650 cylindrical batteries, to meet growing market demands.Year-on-Year Revenue Growth
Overall revenue for the first three quarters reached $114 million, marking an 18.4% year-on-year growth despite industry downturn.
High Gross Profit Margin
The battery business maintained a high gross profit margin of 34.3% in the first three quarters, a 15.2 percentage point increase from the previous year.
Profitability Achievement
The Nanjing factory achieved profitability ahead of schedule, contributing to three consecutive quarters of net profit totaling approximately $21.6 million.
Expansion and Demand in LEV Market
Light electric vehicles market revenue increased by 341% year-on-year, driven by demand from Indian and Vietnamese customers.
R&D and Product Development
Advancements in R&D include the development and upcoming mass production of the model 40135 large cylindrical battery and the tablet model 26650 cylindrical battery.
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CBAT 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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CBAT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $1.02 | $0.98 | -3.92% |
| Aug 09, 2024 | $1.05 | $1.01 | -3.81% |
| May 10, 2024 | $1.11 | $1.14 | +2.70% |
| Mar 15, 2024 | $1.17 | $1.06 | -9.40% |
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 CBAK Energy Technology Inc (CBAT) report earnings?
CBAK Energy Technology Inc (CBAT) is schdueled to report earning on Apr 09, 2025, TBA Not Confirmed.
What is CBAK Energy Technology Inc (CBAT) earnings time?
CBAK Energy Technology Inc (CBAT) earnings time is at Apr 09, 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 CBAT EPS forecast?
CBAT EPS forecast for the fiscal quarter 2024 (Q4) is $0.01.
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