Fluence Energy Inc shares surged 26% to $25.45 in early Wednesday trading after the energy storage products and services provider reported its first-ever quarterly profit and better-than-expected sales.
Fluence posted fourth quarter adjusted earnings of $0.10 per share, up from a $0.24 per-share loss a year earlier, on revenue that rose 52% year over year to $673 million.
The analyst consensus forecast was for a loss of $0.07 per share on sales of $511 million.
Fluence also sees its fiscal 2024 revenue coming in at about $2.7 billion to $3.3 billion with expected 2024 adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) guidance of around $50 million to $80 million.
Shares of Fluence Energy have gained 54% year to date.
Contact Sean at sean@proactiveinvestors.com