Eos Energy Stock Is Moving Higher: What's Going On?

Eos Energy Enterpises, Inc. EOSE shares are trading higher Wednesday after the company reported better-than-expected first-quarter financial results.

What To Know: Eos reported a loss of 17 cents, beating the consensus estimate of a 21 cent-loss. In addition, the company reported sales of $10.46 million, beating the consensus estimate of $10.40 million and representing a 58% year-over-year increase.

The company ended the quarter with $111.7 million in cash. It also reported a commercial opportunity pipeline of $15.6 billion.

“The Eos team delivered solid operating results. We are starting to see the product cost-out benefits combined with higher manufacturing output,” said Joe Mastrangelo, Eos CEO.

“Year-to-date, the team has already surpassed total 2024 shipments, and during Q1 the operations team set production records across all key processes showing the ability to scale operations. We continue to position the Company for long-term profitable growth and believe that American-made long duration energy storage will play a critical role in helping the country achieve energy independence.”

Outlook: The company sees fiscal-year sales from $150 million to $190 million, versus the consensus estimate of $167.08 million.

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EOSE Price Action: At the time of writing, Eos stock is trading 32% higher at $6.64, according to data from Benzinga Pro.

Image: via Shutterstock