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Microvast Holdings (MVST)
NASDAQ:MVST
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Earnings Data
Report Date
Apr 01, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.02Last Year’s EPS
-$0.04Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: 733.33%
|Next Earnings Date:Apr 01, 2025
Earnings Call Sentiment|Positive
The earnings call highlights significant achievements in profitability, revenue growth, and product innovation, particularly in the EMEA region. However, challenges remain due to global policy uncertainties and future revenue expectations. The accomplishments in operational efficiency and market expansion outweigh the challenges.Company Guidance
In the third quarter of 2024, Microvast achieved significant milestones, including a net profit of $13.2 million and an adjusted EBITDA of $29 million, marking a historic milestone for the company. Revenue reached $101.4 million, reflecting a 27% year-over-year growth, with EMEA sales experiencing a staggering 212% increase, accounting for 59% of the quarterly revenue. The gross margin improved to 33.2%, a 10.9 percentage point increase from the previous year. Operating expenses were reduced by 38% to $27.5 million, primarily due to cost control measures. For the fourth quarter, Microvast anticipates revenue between $90 million and $95 million, with full-year revenue growth projected at 15% to 18%. The company remains focused on operational efficiencies, maintaining a gross margin of at least 25%, and expanding its commercial vehicle footprint in the Americas while targeting 80% revenue growth in EMEA.Achieving Profitability
Microvast achieved a net profit of $13.2 million and adjusted EBITDA of $29 million in Q3 2024, marking a historical milestone for the company.
Record Third Quarter Revenue
The company posted a record third quarter revenue of $101.4 million, a 27% increase year-over-year, driven largely by sales increases in EMEA.
Substantial Gross Margin Improvement
Gross margin improved to 33.2%, a 10.9 percentage point increase year-over-year, with adjusted gross margin at 33.9%.
EMEA Business Growth
EMEA revenue grew by 212% year-over-year, now accounting for 59% of quarterly revenue, up from 24% a year ago.
Reduction in Operating Expenses
Operating expenses reduced by 38% to $27.5 million in Q3 2024 compared to $44.7 million in Q3 2023.
Innovative Product Development
Unveiled new silicon-based cell technology and ME6 LFP ESS containers, reflecting ongoing innovation.
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MVST 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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MVST Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $0.18 | $0.80 | +344.44% |
| Aug 09, 2024 | $0.34 | $0.34 | 0.00% |
| May 09, 2024 | $0.44 | $0.43 | -2.27% |
| Apr 01, 2024 | $0.90 | $0.59 | -34.44% |
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 Microvast Holdings (MVST) report earnings?
Microvast Holdings (MVST) is schdueled to report earning on Apr 01, 2025, TBA Not Confirmed.
What is Microvast Holdings (MVST) earnings time?
Microvast Holdings (MVST) earnings time is at Apr 01, 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 MVST EPS forecast?
MVST EPS forecast for the fiscal quarter 2024 (Q4) is -$0.02.
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