Electricity generation and hydrogen production company Bloom Energy (NYSE:BE) will be reporting earnings tomorrow after market close. Here’s what to look for.
Bloom Energy beat analysts’ revenue expectations by 9.6% last quarter, reporting revenues of $335.8 million, up 11.5% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ operating margin estimates and full-year revenue guidance exceeding analysts’ expectations.
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 decline 4.3% year on year to $383.2 million, a reversal from the 36.9% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.09 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. 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 Q3 results, giving us a hint as to what we can expect. American Superconductor delivered year-on-year revenue growth of 60.2%, beating analysts’ expectations by 6.1%, and Generac reported revenues up 9.6%, topping estimates by 1%. American Superconductor traded up 4.3% following the results while Generac was also up 2.3%.
Read our full analysis of American Superconductor’s results here and Generac’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 2.7% on average over the last month. Bloom Energy is up 10.8% during the same time and is heading into earnings with an average analyst price target of $15.95 (compared to the current share price of $11.36).
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