Electricity generation and hydrogen production company Bloom Energy (NYSE:BE) will be reporting earnings this Thursday afternoon. Here’s what investors should know.
Bloom Energy beat analysts’ revenue expectations by 11.9% last quarter, reporting revenues of $326 million, up 38.6% year on year. It was a stunning quarter for the company, with an impressive 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.
This quarter, analysts are expecting Bloom Energy’s revenue to grow 12.2% year on year to $376.6 million, in line with the 11.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.02 per share.
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. Bloom Energy has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Bloom Energy’s peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Nextracker delivered year-on-year revenue growth of 20%, beating analysts’ expectations by 2.3%, and Enphase reported revenues up 19.7%, topping estimates by 1.3%. Enphase traded down 14.2% following the results.
Read our full analysis of Nextracker’s results here and Enphase’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 5.5% on average over the last month. Bloom Energy is up 45.7% during the same time and is heading into earnings with an average analyst price target of $26.42 (compared to the current share price of $34.84).
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