Energy Vault reports Q2 EPS (18c), consensus (12c)

Reports Q2 revenue $3.8M, consensus $16.7M. “We recently outlined a vision for the next two years during our inaugural Investor & Analyst Day to deliver $500-700 million of revenue addressing the largest energy storage markets, while prioritizing our product mix and business model to deliver larger and more predictable cash flow streams,” said Robert Piconi, Chairman and CEO of Energy Vault. “We are executing on that plan with new announcements this past quarter of a 400MWh battery project in Australia as the first of many to come on the continent, continued traction across the portfolio of gravity-related technologies in Europe and the U.S., and progress on our own portfolio of standalone storage projects in California and Texas that we will own and operate. We remain poised to capture this growth given our energy solutions approach in solving customer problems with the best ‘fit for purpose’ technology, while meeting new energy storage requirements being driven by the massive upticks in power demand from generative AI and data center build-outs.”