Electricity generation and hydrogen production company Bloom Energy (NYSE:BE) will be reporting earnings tomorrow after the bell. Here’s what investors should know.
Bloom Energy missed analysts’ revenue expectations by 13.3% last quarter, reporting revenues of $330.4 million, down 17.5% year on year. It was a mixed quarter for the company, with full-year revenue guidance exceeding analysts’ expectations but a significant miss 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 42.1% year on year to $507.3 million, a reversal from the 22.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.31 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 renewable energy segment, some have already reported their Q4 results, giving us a hint as to what we can expect. American Superconductor delivered year-on-year revenue growth of 56%, beating analysts’ expectations by 8.4%, and Nextracker reported a revenue decline of 4.4%, topping estimates by 3.6%. American Superconductor traded up 33.9% following the results while Nextracker was also up 24.3%.
Read our full analysis of American Superconductor’s results here and Nextracker’s results here.
Inflation has progressed towards the Fed’s 2% goal as of late, leading to strong stock market performance. Recent rate cuts and the 2024 Presidential election's conclusion added further sparks to the market, and while some of the renewable energy stocks have shown solid performance, the group has generally underperformed, with share prices down 5.6% on average over the last month. Bloom Energy is up 10.6% during the same time and is heading into earnings with an average analyst price target of $24.43 (compared to the current share price of $22.63).
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