Beam Global Second Quarter 2024 Earnings: Misses Expectations

Beam Global (NASDAQ:BEEM) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$14.8m (down 17% from 2Q 2023).
• Net loss: US$4.92m (loss widened by 39% from 2Q 2023).
• US$0.34 loss per share (further deteriorated from US$0.32 loss in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Beam Global Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 21%. Earnings per share (EPS) also missed analyst estimates by 52%.

Looking ahead, revenue is forecast to grow 30% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Electrical industry in the US.

Performance of the American Electrical industry.

The company's shares are down 8.2% from a week ago.

Risk Analysis

We should say that we've discovered 4 warning signs for Beam Global that you should be aware of before investing here.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.