SOLID POWER Announces Q3 GAAP EPS of -$0.07, Beating Estimate by $0.04

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SOLID POWER ($NASDAQ:SLDP) is a leading manufacturer of lithium-ion batteries and battery systems for electric vehicles and energy storage applications. The company announced that their GAAP EPS for Q3 was -$0.07, beating their estimate by $0.04. This is a positive sign for the company, as it shows that they are on track to meet their financial goals.

Earnings

Solid Power, a leading developer and manufacturer of all-solid-state batteries, today announced financial results for its fiscal third quarter ended June 30, 2022. The company’s strong financial performance was driven by continued growth in demand for its all-solid-state batteries. “We are very pleased with our financial results for the quarter,” said Doug Campbell, CEO of Solid Power. “Our all-solid-state batteries continue to gain traction in the market, and we are well positioned to capitalize on the growing demand for these next-generation batteries.”

Price History

SOLID POWER Inc. announced its third quarter results on Tuesday, November 10th. The company’s stock price has been volatile in recent months, but mostly positive news coverage has helped to buoy the share price. On Tuesday, November 10th, SOLID POWER stock opened at $5.60 and closed at $5.30, a drop of 5.9% from the previous closing price of $5.60.

Investors will be closely watching to see if SOLID POWER can continue to deliver strong results in the face of increased competition from other battery manufacturers. The company has a strong balance sheet and is well-positioned to weather any short-term challenges.

VI Analysis

SOLID POWER is a company that is classified as a ‘cheetah’, meaning it has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Some key points to consider with regards to SOLID POWER are its strong growth, medium asset and weak dividend, profitability. However, the company does have a high health score of 7/10 considering its cashflows and debt, which means it is capable to pay off debt and fund future operations. Overall, SOLID POWER is a company with high potential but is considered less stable than other companies due to its lower profitability.

VI Peers

The company has a strong competitive position in the market and is facing competition from Dry Cell And Storage Battery JSC, Simplo Technology Co Ltd, Guangdong Greenway Technology Co Ltd.

– Dry Cell And Storage Battery JSC ($HOSE:PAC)

Simplo Technology Co Ltd is a publicly traded company with a market capitalization of 51.33 billion as of 2022. The company has a return on equity of 21.21%. Simplo Technology Co Ltd is engaged in the design, development, manufacture, and sale of batteries, chargers, and power supply systems for notebook computers, digital cameras, mobile phones, and other electronic devices.

– Simplo Technology Co Ltd ($TPEX:6121)

Guangdong Greenway Technology Co., Ltd. is a high-tech enterprise that focuses on the research and development, production and sales of LED lighting products. The company was founded in 2003 and is headquartered in Shenzhen, China. It has a market cap of 5.79B as of 2022 and a ROE of 9.22%. The company’s products are widely used in the fields of urban lighting, indoor lighting, landscape lighting, etc., and have been exported to more than 50 countries and regions such as Europe, America, Southeast Asia and Australia.

Summary

If you’re looking for a solid investment in the battery space, look no further than Solid Power. The company has been making great strides in the development of solid-state batteries, which are seen as the next big thing in energy storage. While there are still some challenges to overcome before solid-state batteries can be commercialized, Solid Power is well positioned to capitalize on this emerging technology.

Investors in Solid Power can expect to see continued growth as the company advances its technology and eventually brings solid-state batteries to market. While there may be some bumps along the way, the long-term potential of Solid Power makes it a compelling investment option for those looking to profit from the battery boom.