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Factors to Note Ahead of Blink Charging's (BLNK) Q3 Earnings
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Blink Charging Co. (BLNK - Free Report) is set to report third-quarter 2020 results on Nov 12.
The Zacks Consensus Estimate for third-quarter loss per share has been steady at 9 cents in the past 30 days. The company had reported loss per share of 10 cents in the year-ago quarter.
The Zacks Consensus Estimate for revenues is pegged at $2.26 million, which indicates a surge of 197.4% from the year-ago quarter’s reported figure.
In second-quarter 2020, the company reported revenues of $1.57 million, up 120% from the year-ago quarter’s reported figure and 21.1% sequentially.
Loss during the quarter was reported at 11 cents per share compared with loss of 9 cents per share reported in the second quarter of 2019 and loss per share of 11 cents reported in the first quarter of 2020.
Let’s see how things have shaped up prior to this announcement.
Factors to Note
Blink Charging’s third-quarter performance is expected to reflect gains from improving demand across automotive sector and ongoing momentum in the electric vehicles (EV) industry. Blink Charging operates EV charging stations and provides EV services to residential and commercial properties, along with airports, colleges, shopping malls, schools among others.
The demand for EVs is rising due on growing awareness about lowering carbon footprint to fight global warming. EVs help reduce emissions and restrict ecological damage. In second-quarter conference call, management cited a report from Research And Markets and noted that EV charging infrastructure market will witness a CAGR of 31% between 2020 and 2030 and hit $140 billion by 2030. Also, uptick in demand across automotive domain, as economies reopened and lockdowns eased out, is likely to have acted as a tailwind.
Increase in number of EVs requires more charging stations and this bodes well for Blink Charging. The demand for company’s hardware including DC fast chargers as well as Gen 2 chargers remain steady and is anticipated to have had a positive impact on third-quarter top line.
Further, the partnership with Envoy Technologies is likely to have contributed to the top line in the to-be-reported quarter. In the second quarter, the company collaborated with Envoy to set up Blink Charging stations at all Envoy locations. Envoy is a well-known provider of electric vehicles on demand and on shared basis.
Moreover, the addition of EV charging route on Apple’s (AAPL - Free Report) iOS14 Maps that also features Blink Charging stations is expected to have enhanced the visibility of the company’s charging stations and may have contributed to the top line in the third quarter.
In the second quarter, the company expanded its footprint through strategic alliances into Israel, Greece and Dominican Republic. The international expansion is also anticipated to add to the top line in the reported quarter.
Nonetheless, increasing expenses (on account of higher network costs along with escalating compensation as well as general and administrative expenditures) amid stiff competition from the likes of ChargePoint, Evercharge, and SemaConnect might have limited margin expansion in the third quarter.
Noteworthy Developments in Q3
In September 2020, Blink Charging announced the buyout of Los Angeles-based BlueLA Carsharing. The acquisition provided Blink Charging with over 200 EV charging stations and a fleet of 100 electric cars that will help it expand its presence in Los Angeles.
In August, the company entered into an alliance with SemaConnect, to offer customers of both the companies to use EV charging stations seamlessly without any requirement of new accounts beginning in 2021. Like Blink Charging, SemaConnect also operates EV charging stations and provides EV charging services
The company also inked an alliance with real estate giant, Cushman & Wakefield (CWK - Free Report) . Under the agreement, Cushman & Wakefield will market Blink Charging’s hardware and services across commercial property locations represented by them.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Blink Charging this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Blink Charging has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Bigstock
Factors to Note Ahead of Blink Charging's (BLNK) Q3 Earnings
Blink Charging Co. (BLNK - Free Report) is set to report third-quarter 2020 results on Nov 12.
The Zacks Consensus Estimate for third-quarter loss per share has been steady at 9 cents in the past 30 days. The company had reported loss per share of 10 cents in the year-ago quarter.
The Zacks Consensus Estimate for revenues is pegged at $2.26 million, which indicates a surge of 197.4% from the year-ago quarter’s reported figure.
Blink Charging Co. Price and EPS Surprise
Blink Charging Co. price-eps-surprise | Blink Charging Co. Quote
Q2 At a Glance
In second-quarter 2020, the company reported revenues of $1.57 million, up 120% from the year-ago quarter’s reported figure and 21.1% sequentially.
Loss during the quarter was reported at 11 cents per share compared with loss of 9 cents per share reported in the second quarter of 2019 and loss per share of 11 cents reported in the first quarter of 2020.
Let’s see how things have shaped up prior to this announcement.
Factors to Note
Blink Charging’s third-quarter performance is expected to reflect gains from improving demand across automotive sector and ongoing momentum in the electric vehicles (EV) industry. Blink Charging operates EV charging stations and provides EV services to residential and commercial properties, along with airports, colleges, shopping malls, schools among others.
The demand for EVs is rising due on growing awareness about lowering carbon footprint to fight global warming. EVs help reduce emissions and restrict ecological damage. In second-quarter conference call, management cited a report from Research And Markets and noted that EV charging infrastructure market will witness a CAGR of 31% between 2020 and 2030 and hit $140 billion by 2030. Also, uptick in demand across automotive domain, as economies reopened and lockdowns eased out, is likely to have acted as a tailwind.
Increase in number of EVs requires more charging stations and this bodes well for Blink Charging. The demand for company’s hardware including DC fast chargers as well as Gen 2 chargers remain steady and is anticipated to have had a positive impact on third-quarter top line.
Further, the partnership with Envoy Technologies is likely to have contributed to the top line in the to-be-reported quarter. In the second quarter, the company collaborated with Envoy to set up Blink Charging stations at all Envoy locations. Envoy is a well-known provider of electric vehicles on demand and on shared basis.
Moreover, the addition of EV charging route on Apple’s (AAPL - Free Report) iOS14 Maps that also features Blink Charging stations is expected to have enhanced the visibility of the company’s charging stations and may have contributed to the top line in the third quarter.
In the second quarter, the company expanded its footprint through strategic alliances into Israel, Greece and Dominican Republic. The international expansion is also anticipated to add to the top line in the reported quarter.
Nonetheless, increasing expenses (on account of higher network costs along with escalating compensation as well as general and administrative expenditures) amid stiff competition from the likes of ChargePoint, Evercharge, and SemaConnect might have limited margin expansion in the third quarter.
Noteworthy Developments in Q3
In September 2020, Blink Charging announced the buyout of Los Angeles-based BlueLA Carsharing. The acquisition provided Blink Charging with over 200 EV charging stations and a fleet of 100 electric cars that will help it expand its presence in Los Angeles.
In August, the company entered into an alliance with SemaConnect, to offer customers of both the companies to use EV charging stations seamlessly without any requirement of new accounts beginning in 2021. Like Blink Charging, SemaConnect also operates EV charging stations and provides EV charging services
The company also inked an alliance with real estate giant, Cushman & Wakefield (CWK - Free Report) . Under the agreement, Cushman & Wakefield will market Blink Charging’s hardware and services across commercial property locations represented by them.
What the Zacks Model Unveils
Our proven model doesn’t conclusively predict an earnings beat for Blink Charging this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that’s not the case here.
Blink Charging has an Earnings ESP of 0.00% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Stock That Warrants a Look
NVIDIA (NVDA - Free Report) has an Earnings ESP of +1.75% and it currently sports a Zacks Rank of 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>