Introduction
In the fast-paced world of technology and innovation, QuantumScape Corporation (QS) stands at the forefront of solid-state battery technology. As QS prepares to unveil its fourth-quarter 2023 earnings report on Feb 14, investors and analysts alike are eager to gain insights into the company's financial performance and future prospects.
Key Financial Estimates
The Zacks Consensus Estimate
- Analysts estimate QS’ loss at 23 cents per share for Q4 2023, reflecting an 8% growth from the previous year.
- This estimate has remained unchanged over the past 90 days.
Previous Performance
- In the last reported quarter, QS reported a net loss of 23 cents per share, wider than the Zacks Consensus Estimate of a loss of 21 cents.
- Over the past four quarters, the company surpassed the bottom-line estimate once and missed on three occasions, with an average negative surprise of 4.88%.
Performance Highlights
A0 Prototype Cell Performance
- In Q3 2023, the A0 prototype cell showcased exceptional performance by surpassing 1,000 full cycle equivalents.
- It retained over 95% of its discharge energy under customer-specified test conditions, demonstrating superior energy retention compared to other automotive-format batteries.
Commercial Product Development
- QS' first commercial product, QSE-5, is set to feature higher-loading cathodes and more efficient packaging compared to its A0 prototype cell.
- The company aims to produce QSE-5 cells in large volumes with high quality and reliability, with plans to commence shipping this year.
Financial Challenges
- Escalating expenses, particularly in capital expenditure and cash operating expenses, pose significant challenges for QS.
- In the last reported quarter, capital expenditure amounted to $18 million, while cash operating expenses totaled $64 million.
- For the full year 2023, QS expects capex to range between $75 million and $100 million and cash operating expenses between $225 million and $275 million.
Earnings Whispers
Analytical Predictions
- Despite expectations, QS' earnings report outcome remains uncertain.
- The lack of a positive Earnings ESP and a Zacks Rank #1, 2, or 3 diminishes the likelihood of an earnings beat for QS this quarter.
Potential Market Movers
Stocks With Favorable Combination
- Several players in the auto space have the potential to post an earnings beat, including Lucid Group, Inc. (LCID), Rivian Automotive, Inc. (RIVN), and LKQ Corporation (LKQ).
Conclusion
As QuantumScape Corporation prepares to release its Q4 2023 earnings report, stakeholders are eager to assess the company's financial performance amidst ongoing challenges and promising developments in its product pipeline.
- FAQs
What is QuantumScape Corporation's estimated loss for Q4 2023? Analysts project QS’ loss at 23 cents per share for the fourth quarter, representing an 8% growth from the previous year.
How did QuantumScape perform in the last reported quarter? In the previous quarter, QS reported a net loss of 23 cents per share, wider than the Zacks Consensus Estimate of a loss of 21 cents.
What are some highlights from QuantumScape's performance in Q3 2023? The A0 prototype cell demonstrated exceptional performance, surpassing 1,000 full cycle equivalents and retaining over 95% of its discharge energy.
What are QuantumScape's key financial challenges? QS faces escalating expenses, particularly in capital expenditure and cash operating expenses, which may impact its financial results.
What factors contribute to uncertainty surrounding QuantumScape's earnings report? The lack of a positive Earnings ESP and a Zacks Rank #1, 2, or 3 diminishes the likelihood of an earnings beat for QS in the upcoming quarter.