Energy Vault Holdings Third Quarter 2024 Earnings: Misses Expectations

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

Key Financial Results

• Revenue: US$1.20m (down 99% from 3Q 2023).
• Net loss: US$26.6m (loss widened by 40% from 3Q 2023).
• US$0.18 loss per share (further deteriorated from US$0.13 loss in 3Q 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 91%. Earnings per share (EPS) also missed analyst estimates by 29%.

Looking ahead, revenue is forecast to grow 68% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Electrical industry in the US.

Performance of the American Electrical industry.

The company's shares are down 27% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Energy Vault Holdings (1 is a bit concerning!) that you need to be mindful of.

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