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Beam's Q4 Loss Wider Than Expected, Revenues Decline Y/Y
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Beam Global (BEEM - Free Report) reported an adjusted loss of 31 cents per share in the fourth quarter of 2024, wider than the Zacks Consensus Estimate of a loss of 23 cents. The company had incurred a loss of 51 cents per share in the year-ago quarter. The company reported net sales of $8 million in the quarter, which missed the Zacks Consensus Estimate of $15 million and fell from the year-ago quarter’s $20 million.
Revenues in the fourth quarter of 2024 decreased from the third quarter’s $11.5 million, primarily due to lower federal sales and order timing issues.
In the fourth quarter of 2024, Beam’s cost of revenues fell to $6.25 million from $19.6 million in the corresponding quarter of 2023. Operating expenses rose to $7.3 million from $5.5 million reported in the corresponding quarter of 2023.
As of Dec. 31, 2024, the company had a total backlog of $5.6 million.
As of Dec. 31, 2024, the company had cash of $4.6 million, down from $10.4 million as of Dec. 31, 2023. The company is debt-free.
In the 12 months ended Dec. 31, 2024, net cash used for operating activities was $2.2 million compared to $13.3 million for the same period in 2023. Capital expenditure totaled $825,000, down from $937,000 in 2023.
The company introduced new products like BeamSpot, BeamBike, BeamWell and BeamPatrol to diversify its revenue sources by targeting specific market segments, including disaster response, urban transportation and law enforcement.
In 2025, the company expects to achieve positive cash flow despite flat revenues compared to 2024. The Trump administration’s unfavorable stance on emerging technologies is expected to hinder the company’s growth in the first quarter of 2025. However, the company expects growth to resume in subsequent quarters, supported by its broader product range and focus on international markets.
The Zacks Consensus Estimate for CYD’s 2025 sales and earnings indicates year-over-year growth of 9.17% and 36.84%, respectively. EPS estimates for 2025 have improved 25 cents in the past 60 days.
The Zacks Consensus Estimate for SMP’s 2025 sales and earnings implies year-over-year growth of 11.04%. EPS estimates for 2025 and 2026 have improved 4 cents and 27 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for SZKMY’s 2025 sales and earnings indicates year-over-year growth of 8.59% and 48.43%, respectively. EPS estimates for 2025 and 2026 have improved 56 cents and 39 cents, respectively, in the past 60 days.
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Beam's Q4 Loss Wider Than Expected, Revenues Decline Y/Y
Beam Global (BEEM - Free Report) reported an adjusted loss of 31 cents per share in the fourth quarter of 2024, wider than the Zacks Consensus Estimate of a loss of 23 cents. The company had incurred a loss of 51 cents per share in the year-ago quarter. The company reported net sales of $8 million in the quarter, which missed the Zacks Consensus Estimate of $15 million and fell from the year-ago quarter’s $20 million.
See the Zacks Earnings Calendar to stay ahead of market-making news.
Revenues in the fourth quarter of 2024 decreased from the third quarter’s $11.5 million, primarily due to lower federal sales and order timing issues.
In the fourth quarter of 2024, Beam’s cost of revenues fell to $6.25 million from $19.6 million in the corresponding quarter of 2023. Operating expenses rose to $7.3 million from $5.5 million reported in the corresponding quarter of 2023.
As of Dec. 31, 2024, the company had a total backlog of $5.6 million.
As of Dec. 31, 2024, the company had cash of $4.6 million, down from $10.4 million as of Dec. 31, 2023. The company is debt-free.
In the 12 months ended Dec. 31, 2024, net cash used for operating activities was $2.2 million compared to $13.3 million for the same period in 2023. Capital expenditure totaled $825,000, down from $937,000 in 2023.
The company introduced new products like BeamSpot, BeamBike, BeamWell and BeamPatrol to diversify its revenue sources by targeting specific market segments, including disaster response, urban transportation and law enforcement.
In 2025, the company expects to achieve positive cash flow despite flat revenues compared to 2024. The Trump administration’s unfavorable stance on emerging technologies is expected to hinder the company’s growth in the first quarter of 2025. However, the company expects growth to resume in subsequent quarters, supported by its broader product range and focus on international markets.
BEEM’s Zacks Rank & Key Picks
Beam carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the auto space are China Yuchai International Limited (CYD - Free Report) , Standard Motor Products, Inc. (SMP - Free Report) and Suzuki Motor Corporation (SZKMY - Free Report) , each sporting a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for CYD’s 2025 sales and earnings indicates year-over-year growth of 9.17% and 36.84%, respectively. EPS estimates for 2025 have improved 25 cents in the past 60 days.
The Zacks Consensus Estimate for SMP’s 2025 sales and earnings implies year-over-year growth of 11.04%. EPS estimates for 2025 and 2026 have improved 4 cents and 27 cents, respectively, in the past 30 days.
The Zacks Consensus Estimate for SZKMY’s 2025 sales and earnings indicates year-over-year growth of 8.59% and 48.43%, respectively. EPS estimates for 2025 and 2026 have improved 56 cents and 39 cents, respectively, in the past 60 days.