Published on 9 May 2024 on Zacks via Yahoo Finance

Canoo (GOEV) to Report Q1 Earnings: What's in the Cards?

Canoo Inc. GOEV is scheduled to release first-quarter 2024 results on May 14, after the closing bell. The Zacks Consensus Estimate for the to-be-reported quarter’s loss per share and revenues is pegged at 86 cents and $1.45 million, respectively.The consensus mark for Canoo’s first-quarter loss per share has narrowed by $1.21 in the past 60 days. The electric vehicle (EV) maker’s bottom-line estimates imply growth of 78.01% from the year-ago reported figure. In the last reported quarter, it posted a net loss of $1.73 per share, narrower than the Zacks Consensus Estimate of a loss of $1.78 and the year-ago loss of $5.98.

Earnings Whispers

Our proven model does not conclusively predict an earnings beat for GOEV. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is not the case here, as elaborated below.Earnings ESP: Canoo has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate is in line with the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.Zacks Rank: GOEV currently sports a Zacks Rank #1.