Microvast Holdings Inc. (NASDAQ: MVST) has not confirmed its earnings release date and time so far. However, the estimated earnings date based on the historical earnings date and this quarter's earnings week could be tomorrow.
What to look for
Continued demand for the company will act as a tailwind for revenue growth in the upcoming quarter. However, the ongoing global semiconductor shortage is likely to impact revenue for the quarter. In addition, the company's plans for a 4 GWh manufacturing capacity expansion at the Huzhou, China, and Clarksville, Tennessee are in the course. The company expects new capacity to be online in 2023 because of delays in closing the merger with Tuscan.
Earnings: Stockearning’s Estimated EPS is a loss of $5.35 per share. Historical EPS Performance for the past twelve quarters shows that the company has topped estimates 0 times (0%0 and missed earnings estimates 0 times (0%). In Q2 2020, the company had positive EPS of $0.02, which was a massive improvement from Q1 2020's loss of $0.02 per share.
Revenue: Based on current trends and business conditions, the company issued revenue guidance for the fiscal year ending December 31, 2021, of between $145 million and $155 million, representing a YoY growth of 34.9% to 44.2%. For the year ended December 31, 2020, the company had revenue of $107.5 million. In the second quarter, the company reported revenue of $33 million, a 53.8% QoQ increase. Gross loss was $6.8 million during the quarter affected by inventory write-downs, a high percentage of sales with lower average selling price in china, and low volume orders placed for a certain manufacturing line.
What analysts are saying
Recently Morgan Stanley analyst Adam Jones initiated coverage on the stock with a “Sell” rating and a target price of $6. In a research note to investors titled “Battery Biotech” Mindset, Jones said that the company's vertically integrated strategy carries greater execution, in-sourcing, and competitive risks.
Related News:
Broadcom Inc. (NASDAQ: AVGO) Earnings Expectations, Q3 Revenue To Top Estimates at $6.75 Billion
Veeva Systems Inc. (NYSE: VEEV) Earnings Expectations, Revenue Estimated Between $450M and $452M
Crowdstrike Holdings Inc. (NASDAQ: CRWD) Q2 2022 Earnings Expectation, Revenue Expectation of $318-$324.4 Million to Beat Estimates