Electricity generation and hydrogen production company Bloom Energy (NYSE:BE) will be reporting results tomorrow afternoon. Here's what investors should know.
Bloom Energy missed analysts' revenue expectations by 5.6% last quarter, reporting revenues of $235.3 million, down 14.5% year on year. It was a slower quarter for the company, with a miss of analysts' revenue and earnings 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 1.8% year on year to $306.4 million, slowing from the 23.8% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.05 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 renewable energy segment, some have already reported their Q2 results, giving us a hint as to what we can expect. American Superconductor delivered year-on-year revenue growth of 33.2%, beating analysts' expectations by 2.4%, and Sunrun reported a revenue decline of 11.2%, topping estimates by 1.2%.
Read our full analysis of American Superconductor's results here and Sunrun's results here.
Investors in the renewable energy segment have had steady hands going into earnings, with share prices up 1.6% on average over the last month. Bloom Energy is down 13.4% during the same time and is heading into earnings with an average analyst price target of $16.1 (compared to the current share price of $10.6).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.