Battery company Microvast (NASDAQ:MVST) will be reporting earnings tomorrow afternoon. Here's what investors should know.
Microvast beat analysts' revenue expectations by 6.5% last quarter, reporting revenues of $81.35 million, up 73.2% year on year. It was a stunning quarter for the company, with an impressive beat of analysts' earnings estimates.
Is Microvast a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Microvast's revenue to grow 16.8% year on year to $87.57 million, in line with the 16.4% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.01 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Microvast has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 5.4% on average.
Looking at Microvast's peers in the heavy transportation equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Cummins delivered year-on-year revenue growth of 1.8%, beating analysts' expectations by 5.3%, and Oshkosh reported revenues up 18%, topping estimates by 2.5%. Cummins's stock price was unchanged after the resultswhile Oshkosh was down 7.9%.
Read our full analysis of Cummins's results here and Oshkosh's results here.
Investors in the heavy transportation equipment segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Microvast is down 4.7% during the same time and is heading into earnings with an average analyst price target of $3.3 (compared to the current share price of $0.38).
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