Electricity generation and hydrogen production company Bloom Energy (NYSE:BE) will be announcing earnings results this Tuesday after market close. Here’s what investors should know.
Bloom Energy beat analysts’ revenue expectations by 6.5% last quarter, reporting revenues of $401.2 million, up 19.5% year on year. It was an exceptional quarter for the company, with a 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 for active Edge members.
This quarter, analysts are expecting Bloom Energy’s revenue to grow 27.4% year on year to $420.9 million, a reversal from the 17.5% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.10 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 electrical equipment segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Nextracker delivered year-on-year revenue growth of 42.4%, beating analysts’ expectations by 8.6%, and Vicor reported revenues up 18.5%, topping estimates by 15.7%. Nextracker traded up 8.8% following the results while Vicor was also up 30.1%.
Read our full analysis of Nextracker’s results here and Vicor’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 3.7% on average over the last month. Bloom Energy is up 50.1% during the same time and is heading into earnings with an average analyst price target of $80.83 (compared to the current share price of $110.49).
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