Energy Vault reports Q4 EPS (15c), consensus (11c)

Reports Q4 revenue $118.2M, consensus $151.5M. “The Energy Vault team successfully executed on our most important priority that we set at the beginning of 2023 -deployments of our first energy storage projects across multiple customers delivered on time, on budget and at the quality, safety and performance levels that meet or exceed our customer expectations,” said Robert Piconi, Chairman and CEO of Energy Vault. “In addition to commissioning ~1 GWh of battery and hybrid short duration energy storage systems in the second half of 2023 under our new OS-Vault Energy Management System, we also continued to solidify our global leadership position in long duration energy storage with gravity energy territory expansions across the globe in the US with a large public utility and Southern Africa to complement explosive growth in China with total projects now surpassing 3.7 GWh of EVx gravity energy systems. With the innovation in motion with the construction start of the largest green hydrogen energy storage micro-grid in the USA with PG&E in California serving a multi-day, ultra-long duration storage need, we are clearly demonstrating our unmatched capabilities as an energy storage solutions provider. We look forward to sharing more at our upcoming Investor and Analyst Day in May.”