Overview

* Beam Global ( BEEM ) Q3 revenue fell 50% yr/yr, missing analyst expectations

* Net loss for Q3 missed analyst estimates

* Company expanded into Middle East with new joint venture

Outlook

* Beam Global ( BEEM ) anticipates growth from Middle East expansion due to $1 trillion infrastructure investment, in the next decade

* Company expects revenue growth from increased product portfolio and geographic footprint

* Beam Global ( BEEM ) sees opportunities in autonomous vehicle and drone charging markets

Result Drivers

* BEAMBIKE DEMAND - Successful deployment of BeamBike in the U.S. and Abu Dhabi highlights potential for recurring revenue in the electric bicycle market

* ORDER TIMING IMPACT - Revenue decline attributed to unfavorable order timing, with expectations to execute on delayed orders in the near future

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $5.79 $8.45

Revenue mln mln (5

Analysts

)

Q3 Net Miss -$4.87 -$4.22

Income mln mln (4

Analysts

)

Q3 Basic -$0.28

EPS

Q3 -$4.87

Income mln

From

Operatio

ns

Q3 $4.84

Operatin mln

g

Expenses

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 4 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the renewable energy equipment & services peer group is "buy"

* Wall Street's median 12-month price target for Beam Global ( BEEM ) is $3.50, about 48.3% above its November 13 closing price of $1.81

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)