GreenPower Motor Company Inc. (GP) experienced a notable discrepancy between its actual earnings per share (EPS) and the forecasted EPS during the first quarter of 2024. Here's a detailed analysis:
- GP's Q1 2024 Financial Performance:
- GreenPower Motor reported an EPS of -21 cents for Q1 20251.
- The company’s revenue for the quarter was $3.00 million1.
- Comparison with Forecasts:
- The forecasted EPS for Q1 2024 was -22 cents1.
- Thus, GP’s actual EPS exceeded forecasts by 1 cent, indicating a better-than-expected performance.
- Revenue Analysis:
- GreenPower Motor’s revenue of $3.00 million for Q1 2024 was significantly lower than the MRQ total of $7.22 million2.
- This decline in revenue, coupled with the positive EPS surprise, suggests that the company's cost management or operational efficiency improved, leading to better profitability despite lower revenue.
GP Estimate EPS, EPS Surprise
In conclusion, GreenPower Motor's Q1 2024 EPS outperformed forecasts due to effective cost management or operational efficiency improvements, despite a decline in revenue compared to the previous quarter.