EnSync Inc (NYSEMKT:ESNC) recently announced that it was planning to report its F3Q2016 earnings results after the close of market on May 11. The release of the earnings will be followed by a conference call with analysts and investors at which the management will discuss the results and provide insights into the future.
EnSync Inc (NYSEMKT:ESNC) is one of the renewable energy-themed companies hoping to benefit from the signing of the Paris climate agreement. The company is engaged in developing and commercializing innovative renewable energy management systems. Those systems are sold in utility, industrial and other energy markets.
Paris deal creates demand for clean energy solutions
The Paris climate agreement lays out a framework for countries and corporations to contribute toward proper environment management. Among other things, countries are required to promote the use of clean and renewable energy. As such, EnSync Inc (NYSEMKT:ESNC) stands to benefit from ratification of the Paris climate deal given that it already has a strong portfolio of solutions for efficient energy management.
The threat of global warming and the need to curb the problem is the reason nations assembled in Paris, France, last year to draft a climate change agreement to guide their actions to help the situation. The deal was recently signed at the U.N. headquarters and many nations have promised to accelerate ratification of the agreement.
As EnSync Inc (NYSEMKT:ESNC) prepares to reports F3Q2016, it is important to recap what the company reported in the last quarter. The company reported revenue of $0.38 million in its F2Q2016 and posted EPS loss of $0.10. Revenue improved from $0.30 million in the corresponding quarter a year earlier, but EPS deteriorated from EPS loss of $0.09 in the previous year.
EnSync’s expenses in F2Q2016 ballooned to $4.9 million compared to $3.6 million in the previous quarter. It was the sharp spike in expenses that hurt EnSync’s bottom-line during the quarter.
However, EnSync Inc (NYSEMKT:ESNC) finished the quarter with components backlog of $2.5 million and PPA contracts north of $11.2 million.