EV charging infrastructure provider Blink Charging (NASDAQ: BLNK) will be announcing earnings results tomorrow after the bell. Here’s what to look for.
Blink Charging missed analysts’ revenue expectations by 5.2% last quarter, reporting revenues of $30.18 million, down 29.3% year on year. It was a slower quarter for the company, with 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.
This quarter, analysts are expecting Blink Charging’s revenue to decline 27% year on year to $27.43 million, a reversal from the 73.4% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.12 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. Blink Charging has missed Wall Street’s revenue estimates four 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. Generac delivered year-on-year revenue growth of 5.9%, beating analysts’ expectations by 2.3%, and EVgo reported revenues up 36.5%, topping estimates by 1.4%. Generac’s stock price was unchanged after the resultswhile EVgo was up 32.8%.
Read our full analysis of Generac’s results here and EVgo’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 9.9% on average over the last month. Blink Charging is up 17.3% during the same time and is heading into earnings with an average analyst price target of $2.76 (compared to the current share price of $0.84).
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