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ESS Tech (GWH)
NYSE:GWH
Earnings Data
Report Date
May 13, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-1.37Last Year’s EPS
-0.1Same Quarter Last Year
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 31, 2025
|% Change Since: -34.05%
|Next Earnings Date:May 13, 2025
Earnings Call Sentiment|Neutral
While the company achieved significant cost reductions and successfully launched the Energy Base product with promising extended duration capabilities, they faced notable challenges with revenue shortfall, financial losses, and capital raising difficulties. The positive strides in product development and domestic manufacturing positioning are counterbalanced by financial and operational hurdles.Company Guidance
During the fiscal year 2024 conference call, ESS reported a revenue of $6.3 million, falling short of the guidance range of $9 million to $11 million due to a partner's funding issues. The company delivered six Energy Center (EC) systems to a Florida utility, contributing to the year's revenue, and completed commissioning for Portland General Electric. ESS achieved a nearly 50% reduction in battery pack costs and reached non-GAAP gross margin breakeven for its products. ESS's batteries have transacted almost 2.5 gigawatt-hours of energy globally. The company aggressively pursued cost reduction initiatives and plans to focus on its Energy Base product, which promises extended durations beyond 8 to 10 hours. ESS is targeting a capital raise to bolster its balance sheet and aims for transaction closing in the second quarter to support its strategic shift. The company received notice from the NYSE for falling below market cap requirements but is taking action to address this. ESS is actively bidding on projects with its new Energy Base product and plans to execute during 2025 and 2026.Energy Center Deployment Success
Successfully delivered eight Energy Center systems to a Florida utility, significantly contributing to 2024 revenue and providing valuable project-level implementation insights.
Cost Reduction Achievements
Achieved a nearly 50% reduction in battery pack costs and realized break-even on the latest Energy Center design, one year earlier than expected.
Energy Base Product Launch
Launched the Energy Base product, offering extended durations beyond 8-10 hours, aiming for 12-plus hours by 2027, enhancing capacity to meet grid-level demands.
Domestic Manufacturing and Sourcing
98% of components sourced domestically, supporting the U.S. manufacturing initiative and reducing tariff risks.
Production Tax Credit Benefits
Expanded production tax credits by over 30%, improving cost of goods sold and contributing positively to cash flow and liquidity.
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GWH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GWH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 31, 2025 | $3.26 | $2.85 | -12.58% |
| Nov 13, 2024 | $8.90 | $7.33 | -17.64% |
| Aug 14, 2024 | $10.02 | $8.71 | -13.07% |
| May 07, 2024 | $13.84 | $11.77 | -14.96% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does ESS Tech (GWH) report earnings?
ESS Tech (GWH) is schdueled to report earning on May 13, 2025, TBA Not Confirmed.
What is ESS Tech (GWH) earnings time?
ESS Tech (GWH) earnings time is at May 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GWH EPS forecast?
GWH EPS forecast for the fiscal quarter 2025 (Q1) is -1.37.
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