ClearSign Technologies Q3 Earnings Surpass Estimates, Revenue Rise Y/Y

ClearSign Technologies Corporation CLIR reported an adjusted loss of 2 cents per share in third-quarter 2024, narrower than the Zacks Consensus Estimate of a loss of 3 cents. CLIR had incurred a loss of 3 cents in the year-ago quarter. ClearSign Technologies registered revenues of $1.86 million in the reported quarter compared with $0.09 million in the year-ago quarter. The top line beat the Zacks Consensus Estimate of $1 million.Find the latest EPS estimates and surprises on Zacks Earnings Calendar.CLIR’s Q3 Operational UpdateThe cost of sales amounted to $1.31 million in the third quarter compared with $0.06 million in the year-ago quarter. The gross profit was $0.55 million, up from the year-ago quarter’s $0.02 million. The gross margin was 29.6% in the reported quarter compared with 28.2% in the third quarter of 2023.ClearSign Technologies Corporation Price, Consensus and EPS Surprise  ClearSign Technologies Corporation price-consensus-eps-surprise-chart | ClearSign Technologies Corporation Quote General and administrative expenses were $1.66 million in the quarter, up 15.9% year over year. The operating loss was $1.4 million in comparison with the prior-year quarter’s $1.5 million.ClearSign Technologies’ Q3 Financial ConditionThe company reported cash and cash equivalents of $14.5 million as of Sept. 30, 2024, in comparison with $5.7 million as of Dec. 31, 2023. The company used $3.96 million in operating activities in the first nine months of 2024 compared with $1.78 million in the first nine months of 2023.CLIR’s Other UpdatesOn Nov. 12, the company announced that it secured a purchase order for a boiler burner, incorporating its ClearSign Core technology, for an asphalt company in California. This sale demonstrates the effectiveness of the rental program partnership with California Boiler, allowing customers to experience the Rogue burner's capabilities firsthand. The order, facilitated by Rogue Combustion, underscores the growing demand for ClearSign Technologies’  industrial combustion solutions that support decarbonization and energy efficiency.The shipment is expected in the second quarter of 2025.ClearSign Technologies’  Price PerformanceThe company’s shares have lost 6.9% in the past year against the industry’s growth of 16.7%. Image Source: Zacks Investment Research CLIR’s Zacks RankThe company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.ClearSign Technologies’ Peer PerformancesMSC Industrial Direct Company, Inc. MSM reported fourth-quarter fiscal 2024 (ended Aug. 31, 2024) adjusted earnings per share (EPS) of $1.03, missing the Zacks Consensus Estimate of $1.08. The bottom line decreased 37% year over year.   MSC Industrial generated revenues of around $952 million, down 8% from the year-ago quarter. The top line missed the Zacks Consensus Estimate of $959 million.SiteOne Landscape Supply, Inc. SITE recorded an adjusted EPS of 97 cents in the third quarter of 2024, missing the Zacks Consensus Estimate of $1.18. The company had posted earnings of $1.25 per share in the third quarter of 2023.SITE registered revenues of $1.21 billion for the September-end quarter of 2024, surpassing the Zacks Consensus Estimate of $1.18 billion. The top line rose 2.4% year over year.Hillenbrand, Inc. HI reported a fourth-quarter fiscal 2024 adjusted EPS of $1.01, beating the Zacks Consensus Estimate of 93 cents. The bottom line decreased 11% year over year. HI generated revenues of around $838 million, up 9.8% from the year-ago quarter. The top line beat the Zacks Consensus Estimate of $797 million.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MSC Industrial Direct Company, Inc. (MSM): Free Stock Analysis Report Hillenbrand Inc (HI): Free Stock Analysis Report SiteOne Landscape Supply, Inc. (SITE): Free Stock Analysis Report ClearSign Technologies Corporation (CLIR): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks