ClearSign Technologies Corporation Down 2.50% To $0.78 After Earnings – InvestorsObserver
Clearsign Technologies Corp (CLIR) missed earnings estimates for Q3 2022 this afternoon.
ClearSign Technologies Corporation’s earnings came in at an EPS loss of $0.03 per share. The firm’s loss per share narrowed by 57% since reporting a loss of $0.07 per share a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.
Consensus analyst estimates were at $400 thousand. The Industrials company missed on those expectations for its third quarter with revenue of $324 thousand, a negative revenue surprise of $76 thousand (19%). The firm managed 71% growth year-over-year due to ClearSign Technologies Corporation reporting quarterly revenue of $190 thousand in its year-ago quarter. ClearSign Technologies Corporation achieved a lower earnings growth rate than revenue, signaling that the business has not been able to improve its profit margin.
The stock is down 2.50% to $0.78 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned ClearSign Technologies Corporation a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 39. Meanwhile, the average Wall Street analyst rated the stock a Strong Buy.
ClearSign Technologies Corp is engaged in the designing and developing of combustion solutions. Its patented ClearSign Core technology enhances the performance of combustion systems in a broad range of markets, including the energy, institutional, commercial and industrial boiler, chemical, and petrochemical industries. It offers ClearSign Core Burner Technology; ClearSign Core Plug & Play; ClearSign Core Boiler Burner Technology; ClearSign Core Flaring Burners; and ClearSign Eye Flame Sensor.
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