REE Automotive Reports Loss of $2.39 Per Share, Revenues of $0.21M
December 1, 2023
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REE ($NASDAQ:REE) Automotive, a leading automotive industry player, recently reported its quarterly financial results, which fell short of the expectations of analysts. For the quarter, the company reported a net loss of $2.39 per share and revenues of $0.21M, a figure which was narrowly above projections. The company’s GAAP EPS of -$2.39 was $0.20 lower than analysts had anticipated, while its revenue of $0.21M beat expectations by $0.02. Despite the earnings miss, the company’s share price remains relatively stable as investors remain optimistic about its prospects in the industry. In the past quarter, REE Automotive has made several strategic moves to improve its performance.
It has invested heavily in research and development to stay ahead of the curve and has implemented cost-saving measures to reduce its expenses. The company has also invested in new technologies such as electric and autonomous vehicles, which will likely help the company stay competitive in the industry. Overall, despite the recent losses reported by REE Automotive, investors remain largely positive about the company’s outlook. With its investments in new technologies and cost-saving measures, investors are hopeful that the company will be able to turn around its fortunes and begin to report profits in the near future.
Earnings
REE AUTOMOTIVE reported a loss of $2.39 per share, along with revenues of $0.21M in its earning report for the third quarter of the FY2023 as of September 30 2021. The total revenue also dropped from last year, decreasing from 0.0M USD to 0.21M USD in the past three years. This resulted in a net income loss of 414.9M USD. Despite this, REE AUTOMOTIVE’s total revenue improved in the past three years, but the company still reported a significant loss in its overall income.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Ree Automotive. More…
| Total Revenues | Net Income | Net Margin |
| 1.15 | -106.23 | -9351.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ree Automotive. More…
| Operations | Investing | Financing |
| -93.96 | 62.26 | 0.82 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Ree Automotive. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 147.91 | 37.99 | 13.16 |
Key Ratios Snapshot
Some of the financial key ratios for Ree Automotive are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | -9586.6% |
| FCF Margin | ROE | ROA |
| -8616.4% | -57.7% | -46.7% |
Price History
This caused their stock to open at $7.3 and close at $5.7, a 15.1% decrease from the prior closing price of $6.8. It was a sharp decline, and investors have reacted negatively to the news. Shares of REE Automotive have been under pressure since the announcement. Live Quote…
Analysis
As GoodWhale, we have conducted an analysis of REE AUTOMOTIVE’s wellbeing. According to the Star Chart, REE AUTOMOTIVE has been classified as a ‘cheetah’, a type of company that has achieved a high revenue or earnings growth, but is considered less stable due to lower profitability. For investors looking for high growth in a short period of time, REE AUTOMOTIVE may be an attractive option. This score indicates that REE AUTOMOTIVE is likely to safely ride out any crisis without the risk of bankruptcy. In addition, it is strong in assets and growth, however it is weak in dividend and profitability. Overall, REE AUTOMOTIVE is a company that offers potential for growth, but investors should be aware of its weaker areas such as dividend returns and profitability. More…
Peers
REE Automotive Ltd is an electric vehicle company based in China. The company has a range of electric vehicles, including cars, vans, and buses. The company’s main competitors are Arrival, Rivian Automotive Inc, and Lordstown Motors Corp.
– Arrival ($NASDAQ:ARVL)
Arrival is a UK-based technology company that designs, manufactures, and operates electric vehicles. The company has a market cap of 485.12M as of 2022 and a Return on Equity of -6.58%. Arrival’s products include electric buses, vans, and cars. The company has partnerships with several major automakers, including Hyundai, Kia, and UPS.
– Rivian Automotive Inc ($NASDAQ:RIVN)
Rivian Automotive Inc is a company that manufactures and sells electric vehicles. As of 2022, the company has a market capitalization of 31.59 billion dollars and a return on equity of -24.65%. The company’s products include electric cars, trucks, and SUVs.
– Lordstown Motors Corp ($NASDAQ:RIDE)
Return on equity is a measure of a company’s profitability that takes into account the company’s overall equity. negative 39.42 means that for every dollar of shareholders’ equity, the company lost 39 cents.
Market cap is short for market capitalization. It is the total value of a company’s shares of stock. 372.07 million is the value of all of the shares of common stock outstanding.
Summary
REE AUTOMOTIVE‘s recently released financials have been a disappointment, with its GAAP EPS coming in at -$2.39, missing the expectations by $0.20. Revenue was also weak at $0.21M. In response, the stock price of REE AUTOMOTIVE moved down the same day. Investors viewing REE AUTOMOTIVE as a potential investment should be wary of the company’s poor performance and lack of profitability.
Instead, they may want to look at other companies within the same industry for better investments. As always, it is important to do thorough research before investing.
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