EV charging infrastructure provider Blink Charging (NASDAQ: BLNK) will be announcing earnings results this Monday after market close. Here’s what investors should know.
Blink Charging missed analysts’ revenue expectations last quarter, reporting revenues of $27.04 million, down 3.5% year on year. It was a softer quarter for the company, with a significant miss of analysts’ revenue estimates and a significant miss of analysts’ adjusted operating income estimates.
Is Blink Charging a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Blink Charging’s revenue to grow 4.4% year on year, a reversal from the 44.8% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Blink Charging has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Blink Charging’s peers in the renewable energy segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 130%, beating analysts’ expectations by 42%, and Generac reported revenues up 12.4%, topping estimates by 1.1%. Bloom Energy traded up 27.2% following the results while Generac was also up 19.4%.
Read our full analysis of Bloom Energy’s results here and Generac’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 5% on average over the last month. Blink Charging is up 50.2% during the same time and is heading into earnings with an average analyst price target of $2.25 (compared to the current share price of $0.85).
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