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QuantumScape (QS) to Report Q2 Earnings: Here's What to Expect
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QuantumScape Corporation (QS - Free Report) is slated to release second-quarter 2023 results on Jul 26, after the closing bell. The Zacks Consensus Estimate is pegged at a loss of 22 cents per share for the quarter, flat with the year-ago period’s reported bottom line.
The estimate for second-quarter 2023 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 per share of 24 cents, wider than the Zacks Consensus Estimate of a loss of 23 cents.
Over the trailing four quarters, the company surpassed the bottom-line estimate once, missed twice and matched on the remaining occasion, the average negative surprise being 8.58%.
As per its pre-established target, QuantumScape started shipping 24-layer A0 cells to customers at the end of 2022. During the first quarter of 2023, the company completed customer testing of 24-layer A0 prototype cells and zero externally applied pressure single-layer prototype cells.
The battery developer is trying to improve its cathode capacity loading to nearly 5 mAh/cm2, up from the current capacity of 3mAh/cm2, to optimize the battery's energy density. It is also trying to improve the efficiency of cell packaging and the quality and consistency of materials and processes. These developments bode well for its upcoming results.
On the other hand, 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 capital expenditure and cash operating expenses were $28 million and $62 million, respectively.
For full-year 2023, the company expects capex to range between $100 million and $150 million and cash operating expenses to range between $225 million and $275 million.
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.
Earnings ESP: QuantumScape has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate of 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.
Let’s take a look at some players from the auto space that, according to our model, have the right combination of elements to post an earnings beat for the quarter to be reported:
Ford Motor Company (F - Free Report) will release second-quarter 2023 results on Jul 27. The company has an Earnings ESP of +3.73% and sports a Zacks Rank #1.
The Zacks Consensus Estimate for Ford’s to-be-reported quarter’s earnings and revenues is pegged at 48 cents per share and $39.45 billion, respectively. F surpassed earnings estimates in two of the trailing four quarters and missed twice, the average surprise being 24.35%.
Oshkosh Corporation (OSK - Free Report) will release second-quarter 2023 results on Jul 27. The company has an Earnings ESP of +21.36% and carries a Zacks Rank #2.
The Zacks Consensus Estimate for Oshkosh’s to-be-reported quarter’s earnings and revenues is pegged at $1.62 per share and $2.24 billion, respectively. OSK surpassed earnings estimates once in the trailing four quarters and missed three times, the average negative surprise being 4.37%.
Lear Corporation (LEA - Free Report) will release second-quarter 2023 results on Aug 1. The company has an Earnings ESP of +3.16% and has a Zacks Rank #2.
The Zacks Consensus Estimate for Lear’s to-be-reported quarter’s earnings and revenues is pegged at $3.05 per share and $5.72 billion, respectively. LEA surpassed earnings estimates in all the trailing four quarters, the average surprise being 15.53%.
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QuantumScape (QS) to Report Q2 Earnings: Here's What to Expect
QuantumScape Corporation (QS - Free Report) is slated to release second-quarter 2023 results on Jul 26, after the closing bell. The Zacks Consensus Estimate is pegged at a loss of 22 cents per share for the quarter, flat with the year-ago period’s reported bottom line.
The estimate for second-quarter 2023 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 per share of 24 cents, wider than the Zacks Consensus Estimate of a loss of 23 cents.
Over the trailing four quarters, the company surpassed the bottom-line estimate once, missed twice and matched on the remaining occasion, the average negative surprise being 8.58%.
QuantumScape Corporation Price and EPS Surprise
QuantumScape Corporation price-eps-surprise | QuantumScape Corporation Quote
Things to Note
As per its pre-established target, QuantumScape started shipping 24-layer A0 cells to customers at the end of 2022. During the first quarter of 2023, the company completed customer testing of 24-layer A0 prototype cells and zero externally applied pressure single-layer prototype cells.
The battery developer is trying to improve its cathode capacity loading to nearly 5 mAh/cm2, up from the current capacity of 3mAh/cm2, to optimize the battery's energy density. It is also trying to improve the efficiency of cell packaging and the quality and consistency of materials and processes. These developments bode well for its upcoming results.
On the other hand, 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 capital expenditure and cash operating expenses were $28 million and $62 million, respectively.
For full-year 2023, the company expects capex to range between $100 million and $150 million and cash operating expenses to range between $225 million and $275 million.
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.
Earnings ESP: QuantumScape has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate of 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: It carries a Zacks Rank #3. You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.
Stocks With the Favorable Combination
Let’s take a look at some players from the auto space that, according to our model, have the right combination of elements to post an earnings beat for the quarter to be reported:
Ford Motor Company (F - Free Report) will release second-quarter 2023 results on Jul 27. The company has an Earnings ESP of +3.73% and sports a Zacks Rank #1.
The Zacks Consensus Estimate for Ford’s to-be-reported quarter’s earnings and revenues is pegged at 48 cents per share and $39.45 billion, respectively. F surpassed earnings estimates in two of the trailing four quarters and missed twice, the average surprise being 24.35%.
Oshkosh Corporation (OSK - Free Report) will release second-quarter 2023 results on Jul 27. The company has an Earnings ESP of +21.36% and carries a Zacks Rank #2.
The Zacks Consensus Estimate for Oshkosh’s to-be-reported quarter’s earnings and revenues is pegged at $1.62 per share and $2.24 billion, respectively. OSK surpassed earnings estimates once in the trailing four quarters and missed three times, the average negative surprise being 4.37%.
Lear Corporation (LEA - Free Report) will release second-quarter 2023 results on Aug 1. The company has an Earnings ESP of +3.16% and has a Zacks Rank #2.
The Zacks Consensus Estimate for Lear’s to-be-reported quarter’s earnings and revenues is pegged at $3.05 per share and $5.72 billion, respectively. LEA surpassed earnings estimates in all the trailing four quarters, the average surprise being 15.53%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.