QuantumScape Corporation QS is slated to release fourth-quarter 2024 results on Feb. 12, after the closing bell. The Zacks Consensus Estimate for QS’ loss is pegged at 23 cents per share for the fourth quarter. The company had incurred a loss of 23 cents in the year-ago period.

The consensus estimate for fourth-quarter 2024 loss per share has remained unchanged over the past 90 days. In the last reported quarter, this solid-state battery maker reported a net loss of 23 cents per share, wider than the Zacks Consensus Estimate of a loss of 21 cents.

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Over the trailing four quarters, the company missed the bottom-line estimate thrice and matched on one occasion, the average negative surprise being 8.06%.

QuantumScape Corporation Price and EPS Surprise

QuantumScape Corporation price-eps-surprise | QuantumScape Corporation Quote

Things to Note

In the third quarter of 2024, QuantumScape successfully began low-volume production of its first B Sample cells and started shipping them to automotive customers for testing. It has launched an industrialization partnership with PowerCo to scale QSE-5 technology to gigawatt-hour production. This collaboration includes knowledge-sharing and a $130 million prepayment for licensing rights, contingent on technical progress. These developments bode well for its upcoming results.

Meanwhile, escalating expenses remain a major challenge for QS, and the trend is likely to have continued in the quarter to be reported. In the last reported quarter, the company’s total operating expenses rose to $130 million from $120.8 million.

For full-year 2024, QuantumScape expects an adjusted EBITDA loss of $280-$300 million due to higher legal fees and settlement accruals, which might weigh on its upcoming results.

Earnings Whispers

Our proven model doesn’t conclusively predict an earnings beat for QuantumScape for the to-be-reported quarter as it does not have the right combination of the two key ingredients. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here.

Earnings ESP: QuantumScape has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate of a loss is in line with the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: QS carries a Zacks Rank #3.

Stocks With the Favorable Combination

Here are a few players from the auto space that have the correct elements to post an earnings beat this time.

Magna International Inc. MGA is set to release fourth-quarter 2024 results on Feb. 14. The company has an Earnings ESP of +1.37% and a Zacks Rank #3 at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for MGA’s to-be-reported quarter’s earnings and revenues is pegged at $1.46 per share and $10.3 billion, respectively. Magna missed earnings estimates in each of the trailing four quarters, the average negative surprise being 11.39%.

Rivian Automotive, Inc. RIVN is set to release fourth-quarter 2024 results on Feb. 20. The company has an Earnings ESP of +6.33% and a Zacks Rank #3 at present.

The Zacks Consensus Estimate for RIVN’s to-be-reported quarter’s loss and revenues is pegged at 66 cents per share and $1.43 billion, respectively. Rivian surpassed earnings estimates in one of the trailing four quarters and missed thrice, the average negative surprise being 7.47%.

LKQ Corporation LKQ is scheduled to release fourth-quarter 2024 results on Feb. 20. The company currently has an Earnings ESP of +1.81% and a Zacks Rank #3.

The Zacks Consensus Estimate for LKQ’s to-be-reported quarter’s earnings and revenues is pegged at 75 cents per share and $3.42 billion, respectively. LKQ surpassed earnings estimates in two of the trailing four quarters and missed twice, the average negative surprise being 1.12%.

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