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Freyr Battery (FREY) to Post Q4 Earnings: What's in Store?
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Freyr Battery Inc. (FREY - Free Report) is slated to report fourth-quarter and full-year 2023 results on Feb 29, before market open.
In the last reported quarter, the company delivered an earnings surprise of 82.50%. It also delivered a trailing four-quarter average earnings surprise of 38.71%.
Factors to Note
As FREY continues with its development of the Giga America battery manufacturing project in Coweta County, GA, we may expect to receive further information on this once the company releases fourth-quarter results.
During the quarter, Freyr Battery is likely to have secured initial buildings of Giga Arctic as well as continued operational progress at the Customer Qualification Plant in Mo i Rana, Norway.
In December 2023, FREY received its shareholders’ approval to redomicile from Luxembourg to the United States. We may expect the upcoming results to offer more insight in this matter.
Higher general and administrative expenses as well as increased research and development costs might have had an adverse impact on the company’s bottom-line performance in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for FREY’s fourth-quarter earnings is pegged at a loss of 27 cents per share, flat year over year.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Freyr Battery this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: FREY’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Here are three companies from the same sector you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Fuelcell Energy (FCEL - Free Report) has an Earnings ESP of +31.03% and a Zacks Rank #3 at present. It delivered an average earnings surprise of 13.39% in the last four quarters.
The Zacks Consensus Estimate for the company’s first-quarter fiscal 2024 sales is pegged at $21.8 million and the same for earnings is pegged at a loss of 7 cents per share, which improved a penny over the past 60 days.
Kodiak Gas Services (KGS - Free Report) has an Earnings ESP of +20.00% and a Zacks Rank #3 at present. It delivered an earnings surprise of 16.67% in the last quarter.
The consensus estimate for the company’s fourth-quarter 2023 sales is pegged at $224.5 million and the same for earnings is pinned at 23 cents per share.
A Recent Release
Ormat Technologies (ORA - Free Report) reported fourth-quarter 2023 adjusted earnings per share of 67 cents, which outpaced the Zacks Consensus Estimate of 60 cents by 11.7%. The bottom line, however, declined 8.2% on a year-over-year basis.
In the quarter under review, ORA generated revenues of $241.3 million, which surpassed the Zacks Consensus Estimate of $240 million. Moreover, the top line rose 17.4% year over year, driven by higher revenues from electricity and product segments.
Image: Bigstock
Freyr Battery (FREY) to Post Q4 Earnings: What's in Store?
Freyr Battery Inc. (FREY - Free Report) is slated to report fourth-quarter and full-year 2023 results on Feb 29, before market open.
In the last reported quarter, the company delivered an earnings surprise of 82.50%. It also delivered a trailing four-quarter average earnings surprise of 38.71%.
Factors to Note
As FREY continues with its development of the Giga America battery manufacturing project in Coweta County, GA, we may expect to receive further information on this once the company releases fourth-quarter results.
Freyr Battery Inc. Price and EPS Surprise
Freyr Battery Inc. price-eps-surprise | Freyr Battery Inc. Quote
During the quarter, Freyr Battery is likely to have secured initial buildings of Giga Arctic as well as continued operational progress at the Customer Qualification Plant in Mo i Rana, Norway.
In December 2023, FREY received its shareholders’ approval to redomicile from Luxembourg to the United States. We may expect the upcoming results to offer more insight in this matter.
Higher general and administrative expenses as well as increased research and development costs might have had an adverse impact on the company’s bottom-line performance in the soon-to-be-reported quarter.
The Zacks Consensus Estimate for FREY’s fourth-quarter earnings is pegged at a loss of 27 cents per share, flat year over year.
What the Zacks Model Unveils
Our proven model does not conclusively predict an earnings beat for Freyr Battery this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the chances of an earnings beat, which is not the case here.
Earnings ESP: FREY’s Earnings ESP is 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: Freyr Battery currently carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
Stocks to Consider
Here are three companies from the same sector you may want to consider, as these have the right combination of elements to post an earnings beat this reporting cycle.
Fuelcell Energy (FCEL - Free Report) has an Earnings ESP of +31.03% and a Zacks Rank #3 at present. It delivered an average earnings surprise of 13.39% in the last four quarters.
The Zacks Consensus Estimate for the company’s first-quarter fiscal 2024 sales is pegged at $21.8 million and the same for earnings is pegged at a loss of 7 cents per share, which improved a penny over the past 60 days.
Kodiak Gas Services (KGS - Free Report) has an Earnings ESP of +20.00% and a Zacks Rank #3 at present. It delivered an earnings surprise of 16.67% in the last quarter.
The consensus estimate for the company’s fourth-quarter 2023 sales is pegged at $224.5 million and the same for earnings is pinned at 23 cents per share.
A Recent Release
Ormat Technologies (ORA - Free Report) reported fourth-quarter 2023 adjusted earnings per share of 67 cents, which outpaced the Zacks Consensus Estimate of 60 cents by 11.7%. The bottom line, however, declined 8.2% on a year-over-year basis.
In the quarter under review, ORA generated revenues of $241.3 million, which surpassed the Zacks Consensus Estimate of $240 million. Moreover, the top line rose 17.4% year over year, driven by higher revenues from electricity and product segments.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.