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ReNew Energy Global PLC Reports Break-Even Earnings for Q1
ReNew Energy Global PLC (NASDAQ: RNW) reported break-even quarterly earnings per share versus the Zacks Consensus Estimate of $0.08. This compares to earnings of $0.09 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -100%. A quarter ago, it was expected that this company would post a loss of $0.06 per share when it actually produced earnings of $0.02, delivering a surprise of 133.33%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
ReNew Energy Global, which belongs to the Zacks Alternative Energy - Other industry, posted revenues of $299 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 13.23%. This compares to year-ago revenues of $300 million. The company has topped consensus revenue estimates three times over the last four quarters.
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.
ReNew Energy Global shares have ...