Electricity generation and hydrogen production company Bloom Energy (NYSE: BE) will be reporting results this Tuesday after market hours. Here’s what you need to know.
Bloom Energy beat analysts’ revenue expectations last quarter, reporting revenues of $777.7 million, up 35.9% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS and 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, the market is expecting Bloom Energy’s revenue to grow 62.3% year on year, improving from the 38.6% increase it recorded in the same quarter last year.
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 multiple times over the last two years.
Looking at Bloom Energy’s peers in the electrical equipment segment, some have already reported their Q1 results, giving us a hint as to what we can expect. GE Vernova delivered year-on-year revenue growth of 16.3%, beating analysts’ expectations by 0.8%, and Teledyne reported revenues up 7.6%, topping estimates by 3%. GE Vernova traded up 16.2% following the results while Teledyne was also up 1.4%.
Read our full analysis of GE Vernova’s results here and Teledyne’s results here.
There has been positive sentiment among investors in the electrical equipment segment, with share prices up 15% on average over the last month. Bloom Energy is up 94.7% during the same time and is heading into earnings with an average analyst price target of $165.96 (compared to the current share price of $232.72).
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