Hyliion Holdings Corp. (NYSE:HYLN) shares are trending on Wednesday.
Revenue Beat Overshadows EPS Miss
Shares of the energy technology company soared 17.19% to $4.6172 in pre-market trading on Wednesday after reporting second-quarter revenue of $4.94 million, topping the analyst estimate of $2.38 million by 107.7%.
Earnings per share came in at -$0.08, missing the expected -$0.07 by 14.3%.
Hyliion also announced a $41.7 million contract with the U.S. Navy for its KARNO Power Modules. The company ended the quarter with $132.4 million in cash and investments. It also raised its year-end cash forecast to $115 million to $120 million, up from its previous guidance of $100 million.
