Dragonfly Energy (NASDAQ:DFLI) stock is heading higher on Tuesday alongside its earnings report for the fourth quarter of 2023.
In that report, the company posted earnings per share of 5 cents. That’s much better than the -20 cents per share that Wall Street was expecting for the quarter. It’s also a massive improvement over the -76 cents per share from the same period of the year prior.
Unfortunately, its revenue of $10.4 million is less impressive, That missed analysts’ estimate of $12.24 million for the quarter. It’s also a major drop from the $20.2 million reported in Q4 2022.
Here’s what Dragonfly Energy CEO Denis Phares said in the earnings report:
“We are extremely excited about 2024 as the convergence of the new cell manufacturing, the expansion of our customer base and market segments, and the stabilization and return to growth of the RV markets sets the stage for an expected return to growth.”
What’s Next for DFLI Stock?
The company’s guidance for the first quarter of 2024 includes EPS of -13 cents to -17 cents alongside revenue between $12 million and $13 million. For comparison, Wall Street is expecting -15 cents per share on revenue of $14.1 million for the quarter.
DFLI stock is up 55.6% as of Tuesday morning, with more than 6 million shares traded. The company’s daily average trading volume is about 293,000 shares.
Investors will find more of the most recent stock market stories below!
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On the date of publication, William White did not have (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.
