Stocks
ETFs
Options
Commodities
Crypto
Currency
Pro Newsletters
Research Tools
Daily Feeds
Calendars
Economic Indicators
Class Actions
Calculators
Education
About Us
Working with TipRanks
Follow Us
ESS Tech (GWH)
NYSE:GWH
Holding GWH?
Track your performance easily
Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$1.35Last Year’s EPS
-$1.35Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
---
Earnings Call Summary
Earnings Call Date:Nov 13, 2024
|% Change Since: -47.64%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted significant advancements in technology and funding that position ESS for future growth, yet current financial challenges and revenue delays weigh heavily on the short-term outlook.Company Guidance
During the GWH Q3 2024 earnings call, the company provided guidance for its annual revenue, projecting it to be between $9 million and $11 million, reflecting meaningful year-on-year growth. The company plans to ship 6 EC systems in Q4, with expected revenue recognition upon their arrival at customer sites. Notably, the EC product offers more than double the capacity of the company's energy warehouse product within the same footprint. In terms of financial performance, GWH reported Q3 revenue of $359,000 with associated costs of $12.7 million, alongside a non-GAAP operating expense of $9.2 million, leading to an adjusted EBITDA of negative $18.9 million. The company ended the quarter with $55.1 million in cash and short-term investments. Additionally, GWH secured a credit agreement with the Export-Import Bank of the United States for a $50 million financing package, aimed at supporting manufacturing capacity expansion.Public and Private Funding Secured
ESS secured AUD 65 million in funding for long-duration storage projects in Queensland, indicating strong financial backing and future revenue recognition in Q4.
Introduction of EC Product
ESS plans to ship 6 EC systems in Q4, which have more than double the capacity of previous products, indicating technological advancement and readiness for large-scale deployment.
Cost Reductions Achieved
ESS achieved a 28% reduction in unit costs for EC production through Q3 and expects nearly 50% reduction for the full year 2024.
Monetization of Production Tax Credits
ESS successfully monetized all 2023 production tax credits and is reviewing bids for 2024, providing a positive impact on P&L and liquidity.
Credit Agreement with EXIM Bank
ESS signed a credit agreement with the Export-Import Bank of the United States for a $50 million financing package, enhancing financial stability.
---
GWH 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
---
GWH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 13, 2024 | $8.90 | $7.33 | -17.64% |
| Aug 14, 2024 | $10.02 | $8.71 | -13.07% |
| May 07, 2024 | $13.84 | $11.77 | -14.96% |
| Mar 13, 2024 | $12.20 | $11.59 | -5.00% |
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.
---
FAQ
When does ESS Tech (GWH) report earnings?
ESS Tech (GWH) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is ESS Tech (GWH) earnings time?
ESS Tech (GWH) earnings time is at Feb 20, 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 GWH EPS forecast?
GWH EPS forecast for the fiscal quarter 2024 (Q4) is -$1.35.
---