![]() Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.Įmpirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? What's Next for Flux Power Holdings, Inc. Shares have lost about 11.2% since the beginning of the year versus the S&P 500's decline of -21.4%. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.įlux Power Holdings, Inc. The company has topped consensus revenue estimates three times over the last four quarters. This compares to year-ago revenues of $6.27 million. , which belongs to the Zacks Electronics - Miscellaneous Products industry, posted revenues of $17.84 million for the quarter ended September 2022, surpassing the Zacks Consensus Estimate by 15.47%. Over the last four quarters, the company has surpassed consensus EPS estimates two times.įlux Power Holdings, Inc. A quarter ago, it was expected that this company would post a loss of $0.25 per share when it actually produced a loss of $0.17, delivering a surprise of 32%. This quarterly report represents an earnings surprise of -8.33%. These figures are adjusted for non-recurring items. This compares to loss of $0.30 per share a year ago. (FLUX) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.12. ![]() On March 27, the 17 legacy Silicon Valley Bridge Bank branches began operating as Silicon Valley Bank, a division of First Citizens Bank.įlux Power’s other available financing resources include: (i) a previously disclosed $5 million credit facility agreement, dated May 11, 2022, by and among the registrant and Cleveland Capital and other lenders, which remains unused and (ii) the company’s at-the-market (ATM) facility.Flux Power Holdings, Inc. On March 26, the FDIC entered into a purchase and assumption agreement for all deposits and loans of Silicon Valley Bridge Bank by First Citizens Bank. On March 10, SVB was closed by the California Department of Financial Protection and Innovation, which appointed the FDIC as receiver. “Combined with a recent successful showcase of our full product line at Promat 2023, the material handling and logistics industry’s premier global event, I have never been more confident about the future and long-term shareholder value of Flux Power.” “Our strong purchase orders, improving backlog and expansion of margins through improved sourcing and supply chain management and operational process improvement is leading us toward our near-term goal of profitability,” Ron Dutt, CEO of Flux Power, said. “This renewal, along with our existing cash, is intended to meet our anticipated capital resources to fund planned operations.” “First Citizens Bank is a top-tier financial institution, and we are pleased to now be partnering with them on our revolving line of credit,” Chuck Scheiwe, CFO of Flux Power, said. Flux Power will use the renewed facility to support higher working capital requirements related to increased customer demand. ![]() The original facility was with Silicon Valley Bank, which is now a division of First Citizens Bank after First Citizens purchased SVB out of FDIC receivership following the bank’s collapse in March. Flux Power, a developer of lithium-ion energy storage solutions for the electrification of commercial and industrial equipment, renewed the available credit under its existing $14 million facility with First Citizens Bank.
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