Beam Global reports Q3 EPS (26c), consensus (33c)

Reports Q3 revenue $16.486M, consensus $16.46M. “The Beam team delivered another record-breaking quarter while also continuing to improve our products and sell them to an ever-expanding group of quality customers,” said Desmond Wheatley, CEO of Beam Global. “I am currently in Europe at our new facilities, including six and a half acres, two hundred and twenty thousand square feet of production facilities under roof, all of which we own debt free. We have added a fantastic team of over two hundred employees, over thirty of them advanced engineers who are already working with our American employees as one company. Three weeks after closing the acquisition we are manufacturing the first EV ARC parts in our European facilities. Our European sales team is visiting existing customers across Europe and presenting Beam Global’s clean tech portfolio. The reception has been exceptional. The Beam Team has delivered triple digit percentage growth in the US this year. I am now enthusiastically anticipating Beam Europe’s contribution to the effort. The market is bigger and the reasons for owning Beam Global products even more acute. We are now selling and producing in markets with two thirds of the world’s automobiles where clean and reliable electricity is more important every day. Perfect and fertile ground for Beam Global.”