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Vicinity Motor (TSE:VMC)
:VMC
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Earnings Data
Report Date
Mar 26, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.11Last Year’s EPS
-0.27Same Quarter Last Year
Moderate Sell
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 15, 2018
|% Change Since: 0.00%
|Next Earnings Date:Aug 29, 2018
Earnings Call Sentiment|Neutral
The earnings call reflected substantial revenue growth and expansion efforts, including a robust dealership network and strong backlog. However, challenges such as increased net loss, lower gross profit margins, and potential delivery and regulatory delays were noted. The sentiment is balanced with significant achievements tempered by notable challenges.Company Guidance
During the Q1 2024 earnings call for Vicinity Motor Corp., the company reported a 400% increase in revenue, reaching $13.2 million compared to $2.7 million in the same quarter of the previous year. This growth was attributed to the delivery of 44 VMC 1200 electric trucks and 22 Vicinity Classic Transit Buses, in contrast to just five trucks and three buses the year before. Gross profit totaled $1.9 million, representing 14% of revenue, while net loss increased to $3.7 million compared to $2.4 million a year earlier. The company's backlog exceeded $125 million, with a focus on expanding its dealer network and production capacity, particularly for the U.S. market. Cash and cash equivalents as of March 31, 2024, were $4.3 million, up from $2 million at the end of 2023. The guidance highlighted continued strong demand and strategic initiatives aimed at enhancing production and market presence.Significant Revenue Growth
Revenue increased 400% to $13.2 million in the first quarter of 2024 compared to $2.7 million in the first quarter of 2023, driven by higher deliveries of 44 trucks and 22 buses.
Positive Cash Flow from Operations
Cash provided by operating activities totaled $0.5 million in the first quarter of 2024, compared to cash used of $3.6 million in the first quarter of 2023.
Expansion of Dealership Network
The company announced 4 new dealership partners across Canada to meet growing demand for the VMC 1200 electric trucks, expanding sales and service coverage in strategic markets.
Strong Backlog and Production Ramp-Up
The company has a growing backlog exceeding USD 125 million and is ramping up production at the Ferndale, Washington facility to meet demand.
Introduction of Canadian Federal and Provincial Rebates
The VMC 1200 qualifies for a Canadian federal rebate nationwide of CAD 40,000, with additional provincial incentive programs offering up to CAD 92,000.
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TSE:VMC 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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TSE:VMC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 27, 2024 | C$0.07 | C$0.07 | 0.00% |
| Aug 14, 2024 | C$0.25 | C$0.22 | -12.00% |
| May 14, 2024 | C$1.13 | C$1.05 | -7.08% |
| Apr 02, 2024 | C$1.27 | C$0.93 | -26.77% |
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 Vicinity Motor (TSE:VMC) report earnings?
Vicinity Motor (TSE:VMC) is schdueled to report earning on Mar 26, 2025, TBA Not Confirmed.
What is Vicinity Motor (TSE:VMC) earnings time?
Vicinity Motor (TSE:VMC) earnings time is at Mar 26, 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 TSE:VMC EPS forecast?
TSE:VMC EPS forecast for the fiscal quarter 2024 (Q4) is -0.11.
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