That report starts with diluted earnings per share of -25 cents. That’s below the -19 cents per share that Wall Street was expecting for the quarter. It’s also wider than the -4 cents per share reported in the same period of the year prior.
Also not helping DFLI stock is the company’s revenue of $19.3 million. Yet again, that’s worse than the $20.1 million that analysts were looking for in Q2. It also represents a 10.6% drop year-over-year () compared to $21.6 million.
Denis Phares, CEO of Dragonfly Energy, said the following in the earnings report:
“While the business continues to experience some near-term market headwinds, Dragonfly Energy is executing our plan; growing our market share in our core markets, addressing new growth opportunities, and making significant progress on our cell manufacturing goals.”
Q3 Outlook Hits DFLI Stock
Unfortunately for investors, the next quarter isn’t looking good for Dragonfly Energy, either. The company expects earnings per share to range from -21 cents to -27 cents alongside revenue of between $16 million and $20 million. For comparison, Wall Street is looking for EPS of -7 cents and revenue of $36.35 million for Q3.
DFLI stock is down 20.5% as of Tuesday morning. The stock is also down 84% year-to-date (YTD) as of Monday’s close.
Investors can check out all of the hottest stock market news at the links below!
We have all of the biggest stock market stories that traders need to know about on Tuesday! That includes why shares of Tingo Group (NASDAQ:TIO) stock, G Medical Innovations (NASDAQ:GMVD) stock and Axcella Health (NASDAQ:AXLA) stock are on the move today. All of that news is available at the following links!
More Tuesday Stock Market News
- Why Is Tingo Group (TIO) Stock Down 31% Today?
- Why IS G Medical Innovations (GMVD) Stock Up 34% Today?
- Why Is Axcella Health (AXLA) Stock Up 68% Today?
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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.