ESS Tech, Inc. (GWH) Reports Q2 Loss, Misses Revenue Estimates

Group 1 - ESS Tech, Inc. reported a quarterly loss of $0.12 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.11, but an improvement from a loss of $0.15 per share a year ago, resulting in an earnings surprise of -9.09% [1] - The company posted revenues of $0.35 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 89.26%, and a significant decline from year-ago revenues of $2.83 million [2] - ESS Tech shares have decreased by approximately 41.5% since the beginning of the year, contrasting with the S&P 500's gain of 13.9% [3] Group 2 - The earnings outlook for ESS Tech is mixed, with the current consensus EPS estimate for the coming quarter at -$0.12 on revenues of $4.47 million, and -$0.42 on revenues of $23.62 million for the current fiscal year [7] - The Zacks Industry Rank for Electronics - Miscellaneous Products is currently in the top 32% of over 250 Zacks industries, indicating that the industry outlook can significantly impact stock performance [8]