Looking back on renewable energy stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Bloom Energy (NYSE:BE) and its peers.
Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.
The 17 renewable energy stocks we track reported a mixed Q4. As a group, revenues missed analysts’ consensus estimates by 4.6% while next quarter’s revenue guidance was 0.6% above.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 13.7% since the latest earnings results.
Best Q4: Bloom Energy (NYSE:BE)
Working in stealth mode for eight years, Bloom Energy (NYSE:BE) designs, manufactures, and markets solid oxide fuel cell systems for on-site power generation.
Bloom Energy reported revenues of $572.4 million, up 60.4% year on year. This print exceeded analysts’ expectations by 12.8%. Overall, it was an incredible quarter for the company with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
KR Sridhar, Founder, Chairman, and CEO of Bloom Energy said, “We are the solution of choice for powering AI, whether that’s large data centers that need reliable power now, or businesses that are going to use AI for productivity gains. Our proven solution is ready to be deployed at GW scale starting this year.”
Bloom Energy achieved the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise of the whole group. Investor expectations, however, were likely higher than Wall Street’s published projections, leaving some wishing for even better results (analysts’ consensus estimates are those published by big banks and advisory firms, not the investors who make buy and sell decisions). The stock is down 5.3% since reporting and currently trades at $21.80.
American Superconductor (NASDAQ:AMSC)
Founded in 1987, American Superconductor (NASDAQ:AMSC) has shifted from superconductor research to developing power systems, adapting to changing energy grid needs and naval technology requirements.
American Superconductor reported revenues of $61.4 million, up 56% year on year, outperforming analysts’ expectations by 8.4%. The business had an exceptional quarter with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 24.2% since reporting. It currently trades at $19.40.
Is now the time to buy American Superconductor? Access our full analysis of the earnings results here, it’s free.
Weakest Q4: TPI Composites (NASDAQ:TPIC)
Founded in 1968, TPI Composites (NASDAQ:TPIC) manufactures composite wind turbine blades and provides related precision molding and assembly systems.
TPI Composites reported revenues of $346.5 million, up 16.7% year on year, falling short of analysts’ expectations by 5%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations.
As expected, the stock is down 42.6% since the results and currently trades at $0.83.
Read our full analysis of TPI Composites’s results here.
EnerSys (NYSE:ENS)
Supplying batteries that power equipment as big as mining rigs, EnerSys (NYSE:ENS) manufactures various kinds of batteries for a range of industries.
EnerSys reported revenues of $906.2 million, up 5.2% year on year. This result lagged analysts' expectations by 2.8%. More broadly, it was a mixed quarter as it also produced EPS guidance for next quarter exceeding analysts’ expectations but a significant miss of analysts’ sales volume estimates.
The stock is flat since reporting and currently trades at $94.03.
Read our full, actionable report on EnerSys here, it’s free.
ChargePoint (NYSE:CHPT)
The most prominent EV charging company during the COVID bull market, ChargePoint (NYSE:CHPT) is a provider of electric vehicle charging technology solutions in North America and Europe.
ChargePoint reported revenues of $101.9 million, down 12% year on year. This number missed analysts’ expectations by 1.4%. More broadly, it was actually a strong quarter as it put up an impressive beat of analysts’ EBITDA estimates.
The stock is up 1.2% since reporting and currently trades at $0.67.
Read our full, actionable report on ChargePoint here, it’s free.
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