Electricity generation and hydrogen production company Bloom Energy (NYSE:BE) will be announcing earnings results tomorrow afternoon. Here’s what to expect.
Bloom Energy beat analysts’ revenue expectations by 12.8% last quarter, reporting revenues of $572.4 million, up 60.4% year on year. It was an incredible quarter for the company, with a solid beat of analysts’ EPS estimates and an impressive 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 24% year on year to $291.7 million, a reversal from the 14.5% 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. Bloom Energy has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Bloom Energy’s peers in the electrical equipment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Enphase delivered year-on-year revenue growth of 35.2%, missing analysts’ expectations by 1.6%, and Bel Fuse reported revenues up 18.9%, topping estimates by 1.6%. Enphase traded down 15.8% following the results while Bel Fuse was up 3.4%.
Read our full analysis of Enphase’s results here and Bel Fuse’s results here.
Investors in the electrical equipment segment have had fairly steady hands going into earnings, with share prices down 1.3% on average over the last month. Bloom Energy is down 1.3% during the same time and is heading into earnings with an average analyst price target of $24.06 (compared to the current share price of $19.40).
Unless you’ve been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story.