Microvast Holdings Third Quarter 2024 Earnings: Beats Expectations

Microvast Holdings (NASDAQ:MVST) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$101.4m (up 27% from 3Q 2023).
• Net income: US$13.2m (up from US$26.1m loss in 3Q 2023).
• Profit margin: 13% (up from net loss in 3Q 2023).
• EPS: US$0.041 (up from US$0.083 loss in 3Q 2023).

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

Microvast Holdings Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) also surpassed analyst estimates.

Looking ahead, revenue is forecast to grow 23% p.a. on average during the next 2 years, compared to a 3.1% growth forecast for the Machinery industry in the US.

Performance of the American Machinery industry.

The company's shares are up 385% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Microvast Holdings has 4 warning signs (and 3 which can't be ignored) we think you should know about.

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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.