Electricity generation and hydrogen production company Bloom Energy (NYSE: BE) will be reporting earnings this Thursday after market hours. Here’s what to expect.
Bloom Energy beat analysts’ revenue expectations by 22.8% last quarter, reporting revenues of $519 million, up 57.1% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Bloom Energy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Bloom Energy’s revenue to grow 14.4% year on year to $655.1 million, slowing from the 60.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.30 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. Bloom Energy has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Bloom Energy’s peers in the electrical equipment segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Enphase’s revenues decreased 10.3% year on year, beating analysts’ expectations by 1.9%, and Nextpower reported revenues up 33.9%, topping estimates by 11.5%. Nextpower traded up 13.3% following the results.
Read our full analysis of Enphase’s results here and Nextpower’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 8.5% on average over the last month. Bloom Energy is up 61.3% during the same time and is heading into earnings with an average analyst price target of $125.17 (compared to the current share price of $167.77).
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