EV charging infrastructure provider Blink Charging (NASDAQ:BLNK) will be reporting results tomorrow afternoon. Here's what to look for.
Blink Charging beat analysts' revenue expectations by 25.4% last quarter, reporting revenues of $42.71 million, up 88.9% year on year. It was a mixed quarter for the company, with a miss of analysts' earnings 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 grow 73.4% year on year to $34.61 million, slowing from the 121% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.20 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. Blink Charging has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 23.8% on average.
Looking at Blink Charging's peers in the electrical equipment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Benchmark Electronics's revenues decreased 2.8% year on year, beating analysts' expectations by 4.7%, and Methode Electronics reported a revenue decline of 7.9%, topping estimates by 3.9%. Benchmark Electronics traded up 17.7% following the results while Methode Electronics was also up 46.1%.
Read our full analysis of Benchmark Electronics's results here and Methode Electronics's results here.
Investors in the electrical equipment segment have had steady hands going into earnings, with share prices flat over the last month. Blink Charging is down 3.4% during the same time and is heading into earnings with an average analyst price target of $5.8 (compared to the current share price of $2.82).
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