GOEV Earnings

GOEV reported its FY2024Q2 earnings on 2024-08-14, showcasing a revenue of 605.00K against an estimate of 1.56M, resulting in a -61.19% surprise. The EPS was -0.09, surpassing the expected -0.77 by 88.31%. The stock experienced a 9.22% price change on the earnings day and a 1.42% change over the next five days, reflecting market reactions to the results.

Following GOEV's FY2024Q2 earnings announcement on 2024-08-14, the stock price moved by 9.22% on the day of the release. Over the subsequent five days, it saw a 1.42% change. Historically, GOEV's stock price tends to shift by an average of 9.97% in the 10 days leading up to earnings and -4.05% in the 10 days following, providing insight into potential market.

For 2024/Q4, analysts estimate GOEV's annual revenue to reach 15.00M, while the EPS is projected at undefined. These estimates reflect recent revisions, with revenue estimates unchanged by 0% and EPS estimates unchanged by 0% over the past three months, indicating analyst expectation in the company's performance.

The correlation between GOEV's stock price and earnings forecast revisions shows that positive revisions in revenue or EPS often strengthen the stock's fundamentals. Over the past three months, revenue estimates for FY2024 were unchanged by 0%, while EPS estimates moved unchanged by 0%. This trend suggests that price dips could present buying opportunities for investors.

Based on historical trends, GOEV's stock price typically moves by 9.97% in the 10 days before its earnings and -4.05% in the 10 days after. For the upcoming 2024/Q4 earnings, analysts expect an EPS of undefined and revenue of 15.00M.

The earnings call reveals several challenges for Canoo, including workforce furloughs, supply chain disruptions, and financial instability due to capital raising difficulties. Despite revenue growth and cost reductions, the company faces significant risks, such as regulatory issues and economic pressures. The Q&A section highlights management's uncertainty about financing and production timelines, further compounding negative sentiment. While there are positive aspects like revenue growth and cost savings, these are overshadowed by the broader concerns, leading to a likely negative stock price reaction in the short term.