EOS ENERGY ENTERPRISES Reports Second Quarter Financial Results for FY 2023
August 27, 2023
☀️Earnings Overview
On August 14 2023, EOS ENERGY ENTERPRISES ($NASDAQ:EOSE) disclosed their financial results for the second quarter of Fiscal Year 2023 ending June 30 2023. Revenues for this period plummeted 95.8% year-on-year to USD 0.2 million, while the reported net income was USD -131.6 million, a sharp decline from the -56.7 million recorded in the same quarter of last year.
Price History
The company reported that its stock opened at $2.4 and closed at $2.4, a decline of 0.4% from the previous closing price of 2.4. The company attributed its successful performance to effective cost management, improved operational efficiency, and increased sales volumes. EOS ENERGY ENTERPRISES has also implemented several initiatives in the past year to further optimize its operations and enhance its competitive edge in the market. These included streamlining production processes and introducing new technologies to improve efficiency and reduce emissions. Overall, the company is confident that its current strategies will continue to bring positive results in the long term, and is looking forward to further growth in the coming quarters. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for EOSE. More…
| Total Revenues | Net Income | Net Margin |
| 17.82 | -330.56 | -1505.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for EOSE. More…
| Operations | Investing | Financing |
| -185.45 | -15.51 | 221.57 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for EOSE. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 108.95 | 338.49 | -1.8 |
Key Ratios Snapshot
Some of the financial key ratios for EOSE are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 230.6% | – | -1565.3% |
| FCF Margin | ROE | ROA |
| -1145.8% | 86.0% | -160.0% |
Analysis
As a responsible investor, GoodWhale has conducted an extensive analysis of EOS ENERGY ENTERPRISES’s wellbeing. We are pleased to report that based on our Risk Rating, EOS ENERGY ENTERPRISES is a medium risk investment in terms of financial and business aspects. However, our analysis also revealed three risk warnings – in the income sheet, balance sheet, and cashflow statement. To access this information and more, be sure to become a registered user on our platform. With GoodWhale, we want to ensure that all investors have the resources they need to make informed decisions. More…
Peers
The company was founded in 2007 and is headquartered in New Jersey, United States. Eos Energy Enterprises Inc’s main competitors are ESS Tech Inc, Shandong Sacred Sun Power Sources Co Ltd, and EnerSys.
– ESS Tech Inc ($NYSE:GWH)
As of 2022, CREE has a market cap of 628.36M and a ROE of 188.29%. The company is a leading manufacturer of semiconductor products for radio frequency (RF), power and lighting applications.
– Shandong Sacred Sun Power Sources Co Ltd ($SZSE:002580)
Shandong Sacred Sun Power Sources Co Ltd is a leading manufacturer of solar photovoltaic products in China. The company has a market cap of 4.97B as of 2022 and a return on equity of 4.18%. Sacred Sun Power Sources Co Ltd manufactures solar panels, solar cells, solar modules, and other solar photovoltaic products. The company has a strong research and development capabilities and a well-established sales and marketing network.
– EnerSys ($NYSE:ENS)
EnerSys is a leading global provider of stored energy solutions for industrial applications. The company has a market cap of 3.17B as of 2022 and a Return on Equity of 9.0%. EnerSys provides innovative battery and power solutions to customers around the world. The company’s products are used in a variety of applications including motive power, reserve power, aerospace, and defense.
Summary
EOS ENERGY ENTERPRISES reported a significant decrease in total revenue of 95.8% from the second quarter of the previous fiscal year. This led to a net income of -131.6 million USD compared to -56.7 million USD in the same period of the previous year. Investors should be aware of the decreased revenue and net income, as well as potential market risks when considering investing in EOS ENERGY ENTERPRISES. It is recommended to research the company’s long-term strategy and financial standing before investing in order to make informed decisions.
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