Shares of Eos Energy Enterprises Inc. (EOSE) plummeted in after-hours trading on Monday, November 5th, 2024, following the company's release of its third-quarter financial results. The stock experienced a significant after-hours plunge of 7.23% as investors reacted to Eos Energy's disappointing earnings report.
The energy storage solution company reported a quarterly adjusted loss per share of $0.44, missing the analyst consensus estimate of $0.18 by a wide margin. Additionally, Eos Energy's quarterly sales of $854,000 fell substantially short of the expected $6.477 million, representing an 86.81% miss compared to analysts' projections.
While the company's sales grew by 24.85% year-over-year, the significant shortfall in both earnings and revenue performance appears to have weighed heavily on investor sentiment, driving the sharp decline in Eos Energy's stock price following the earnings release.
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