Hyliion Holdings reports Q2 EPS (6c) vs. (19c) last year.

The company states: “For 2024, total cash consumed for KARNO development and capital investments is expected to be approximately $55 million, up compared to the prior estimate of $40 to $50 million due to higher capital expenditures that support a more rapid build-out of additive printing capacity in Austin. This estimate excludes cash payments associated with share repurchases that have already been conducted during 2024, and payments and asset sales associated with the wind down of powertrain operations. Hyliion continues to expect it will achieve commercialization of the KARNO generator with capital on hand. Projections for 2025 include growth of KARNO generator deliveries, with proceeds from sales in the low double-digit millions of dollars. The company is also targeting approximately break-even gross margins on a cash basis by late 2025 or early 2026, and cash spending to grow modestly compared to 2024.” “Hyliion remains on track to deliver the first KARNO generator units to early adopter customers later this year,” stated Thomas Healy, Hyliion’s Founder and CEO. “I am also pleased to share that more than half of our anticipated deliveries for next year have already been secured by customers. We are seeing growing interest across use cases and particularly in data center applications where grid constraints are driving the need for additional power generation capacity.”