NASDAQ$EOSE
Eos Energy Enterprises Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Eos Energy Enterprises reported financial results for Q1 2024 and announced the successful completion of factory acceptance testing.
Eos Energy Enterprises reported Q1 2024 revenue of $6.6 million, a decrease of 25% compared to the prior year period. The company's backlog increased by 13% year-over-year to $602.7 million. They reaffirmed their 2024 revenue outlook of $60 million to $90 million and expect positive contribution margin in Q4 2024.
- Revenue totaled $6.6 million, 25% lower than prior year, due to customer revenue recognition timing.
- Cost of Goods Sold totaled $28.2 million, a 5% increase compared to prior year, on 28% higher manufacturing volume.
- Commercial opportunity pipeline of $13.3 billion, a 56% increase compared to prior year.
- Backlog as of March 31, 2024, was $602.7 million, an increase of 13% compared to March 31, 2023.
Headline financials
Revenue & EPS history
Eos Energy · Revenue · Quarterly
$6.6M
Forward guidance
The Company reaffirmed the following outlook for 2024.
Tailwinds
- The Company expects to recognize $60 million to $90 million in revenue as state-of-the-art (SotA) manufacturing line 1 is expected to complete Site Acceptance Testing (SAT) in Q2 2024.
- The Company then plans to increase manufacturing volume throughout 2024 that aligns production with customer requirements as well as the planned realization of its cost-out roadmap.
- The Company forecasts positive contribution margin in Q4 2024 as multiple cost reduction actions are implemented throughout the year.
- Contribution margin is defined as sales price less direct labor and direct materials and includes the benefit of the production tax credits.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
-3.5%
Avg return
Earnings day
-2.6%
Avg return
5 days after
+1.2%
Avg return
30 days after
48%
12 / 25 earnings
Positive
+31.7%
Q1 2025
Best reaction
-39.3%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.2% | -8.2% | — | |
| Q4 2025 | -39.3% | -45.6% | -56.3% | |
| Q3 2025 | +2.8% | +24.6% | +0.9% | |
| Q1 2025 | +31.7% | +25.6% | -23.8% | |
| Q4 2024 | +26.1% | +0.0% | -3.0% | |
| Q3 2024 | -12.7% | -8.6% | +5.1% | |
| Q2 2024 | -19.0% | -15.1% | +30.2% | |
| Q1 2024 | +0.3% | -0.8% | +30.4% | |
| Q4 2023 | +5.9% | +2.0% | -5.6% | |
| Q3 2023 | -32.0% | -35.0% | -44.2% | |
| Q2 2023 | +16.3% | +25.1% | +5.4% | |
| Q1 2023 | +12.0% | +27.1% | +47.9% | |
| Q4 2022 | -22.8% | -18.4% | +3.1% | |
| Q3 2022 | -17.0% | -21.6% | -24.8% | |
| Q2 2022 | -12.8% | +2.3% | -36.2% | |
| Q1 2022 | -27.7% | -26.7% | +8.9% | |
| Q4 2021 | -7.1% | -16.0% | +39.7% | |
| Q3 2021 | -0.3% | -0.1% | -28.2% | |
| Q2 2021 | -7.3% | -11.6% | -16.7% | |
| Q1 2021 | -8.9% | +3.4% | +70.8% | |
| Q2 2020 | +9.9% | +3.6% | -6.2% | |
| Q4 2020 | +9.9% | +3.6% | -6.2% | |
| Q3 2020 | -2.1% | +30.0% | +35.1% | |
| Q1 2020 | +2.0% | — | — | |
| Q4 2019 | +2.0% | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro