EV charging solutions provider ChargePoint Holdings (NYSE: CHPT) will be reporting earnings tomorrow after market close. Here’s what you need to know.
ChargePoint missed analysts’ revenue expectations by 1.4% last quarter, reporting revenues of $101.9 million, down 12% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ EBITDA estimates.
Is ChargePoint a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting ChargePoint’s revenue to decline 5.8% year on year to $100.8 million, improving from the 17.7% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.06 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. ChargePoint has missed Wall Street’s revenue estimates six times over the last two years.
Looking at ChargePoint’s peers in the renewable energy segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Generac delivered year-on-year revenue growth of 5.9%, beating analysts’ expectations by 2.3%, and American Superconductor reported revenues up 58.6%, topping estimates by 10.6%. Generac’s stock price was unchanged after the results, while American Superconductor was up 4%.
Read our full analysis of Generac’s results here and American Superconductor’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 5.4% on average over the last month. ChargePoint is up 20.7% during the same time and is heading into earnings with an average analyst price target of $1.14 (compared to the current share price of $0.70).
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