Energy Vault Holdings First Quarter 2024 Earnings: Misses Expectations

Energy Vault Holdings (NYSE:NRGV) First Quarter 2024 Results

Key Financial Results

• Revenue: US$7.76m (down 32% from 1Q 2023).
• Net loss: US$21.1m (loss narrowed by 32% from 1Q 2023).
• US$0.14 loss per share (improved from US$0.22 loss in 1Q 2023).

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

Energy Vault Holdings Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 42%. Earnings per share (EPS) also missed analyst estimates by 1.8%.

Looking ahead, revenue is forecast to grow 50% p.a. on average during the next 3 years, compared to a 7.6% growth forecast for the Electrical industry in the US.

Performance of the American Electrical industry.

The company's shares are down 4.8% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 4 warning signs for Energy Vault Holdings that you should be aware of.

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