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What's in Store for Blink Charging (BLNK) in Q2 Earnings?
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Blink Charging (BLNK - Free Report) is set to release second-quarter 2021 results on Aug 11.
The Zacks Consensus Estimate for the top line is currently pegged at $2.65 million, indicating 69% growth from the figure reported in the year-ago quarter.
The consensus mark for loss has been unchanged at 18 cents per share, but wider than 11 cents Blink reported in the year-ago quarter.
Q1 At a Glance
In first-quarter 2021, Blink reported revenues of $2.2 million, up 72% year over year. Loss was reported at 18 cents per share compared with loss of 11 cents per share reported in the year-ago quarter.
Blink contracted, sold or deployed 1,597 commercial and residential EV charging stations in the reported quarter. The number of Blink’s own charging stations contractor deployed grew more than 370%.
Let’s see how things have shaped up for Blink prior to this announcement.
Factors to Note
Blink’s second-quarter performance is expected to reflect gains from improving demand for electric vehicles (EV) on growing awareness about lowering carbon footprint to fight global warming. Also, uptick in demand across the automotive domain as economies reopened and lockdowns eased out, is likely to have acted as a tailwind.
Increase in the number of EVs requires more charging stations and this bodes well for Blink. The company is tapping into every available infrastructure grant, incentives, and programs across the United States.
Strong demand for the company’s IQ 200 charging stations is expected to have driven top-line growth in the second quarter. Blink’s IQ 200 units are among the fastest level 2 AC charging stations available in the market, with a maximum output of 80 amps.
Blink’s expanding partner base has been a key catalyst. The company inked an agreement with ev Transportation Services to distribute Blink’s EV charging equipment to fleet customers along with its FireFly ESV essential services vehicle. In the to-be-reported quarter, Blink inked a partnership with General Motors (GM - Free Report) , which made public charging more convenient for GM vehicle owners.
Blink’s expanding international footprint is likely to have driven top-line growth in the to-be-reported quarter.
Nonetheless, increasing expenses amid stiff competition from the likes of ChargePoint, Evercharge, and SemaConnect might have limited margin expansion in the second quarter.
Noteworthy Developments in Q2
In April, Blink announced the deployment of IQ 200 charging stations at the Native American Youth & Family Center in Portland, OR, funded by the Portland General Electric Drive Change Fund.
In May, Blink announced the acquisition of Blue Corner, a well-known European EV charging operator. Blue Corner’s chargers are located at 3,813 locations across Belgium, Luxembourg, the Netherlands and France. The buyout is expected to help Blink expand its international footprint, particularly in Europe.
Blink deployed its HQ 100 chargers in Santiago, Chile in the to-be-reported quarter. The company also announced that it has signed a long-term contract to deploy its EV charging stations at Fattal Hotels across Israel.
In June, Blink announced deployment of IQ 200 Level 2 EV charging stations at three locations of AtlantiCare Integrated Healthcare System, the largest healthcare organization in Southern New Jersey.
Insight into Upcoming Earnings Announcements
Blink has underperformed the Zacks Computer and Technology sector on a year-to-date basis. While this EV charging stock has declined 20.8%, the sector gained 22.4%.
Investors interested in the sector are eagerly awaiting earnings releases from players like Avnet (AVT - Free Report) and CyberArk Software (CYBR - Free Report) .
Avnet is set to release its fourth quarter fiscal 2021 results on Aug 11. The Zacks Consensus Estimate for earnings is pegged at 88 cents per share, up 15.8% over the past 30 days. Avnet sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CyberArk, a Zacks Rank #2 (Buy), is scheduled to release second-quarter 2021 results on Aug 12. The Zacks Consensus Estimate for earnings stands at 3 cents per share, up a penny over the past 30 days.
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What's in Store for Blink Charging (BLNK) in Q2 Earnings?
Blink Charging (BLNK - Free Report) is set to release second-quarter 2021 results on Aug 11.
The Zacks Consensus Estimate for the top line is currently pegged at $2.65 million, indicating 69% growth from the figure reported in the year-ago quarter.
The consensus mark for loss has been unchanged at 18 cents per share, but wider than 11 cents Blink reported in the year-ago quarter.
Q1 At a Glance
In first-quarter 2021, Blink reported revenues of $2.2 million, up 72% year over year. Loss was reported at 18 cents per share compared with loss of 11 cents per share reported in the year-ago quarter.
Blink Charging Co. Price and EPS Surprise
Blink Charging Co. price-eps-surprise | Blink Charging Co. Quote
Blink contracted, sold or deployed 1,597 commercial and residential EV charging stations in the reported quarter. The number of Blink’s own charging stations contractor deployed grew more than 370%.
Let’s see how things have shaped up for Blink prior to this announcement.
Factors to Note
Blink’s second-quarter performance is expected to reflect gains from improving demand for electric vehicles (EV) on growing awareness about lowering carbon footprint to fight global warming. Also, uptick in demand across the automotive domain as economies reopened and lockdowns eased out, is likely to have acted as a tailwind.
Increase in the number of EVs requires more charging stations and this bodes well for Blink. The company is tapping into every available infrastructure grant, incentives, and programs across the United States.
Strong demand for the company’s IQ 200 charging stations is expected to have driven top-line growth in the second quarter. Blink’s IQ 200 units are among the fastest level 2 AC charging stations available in the market, with a maximum output of 80 amps.
Blink’s expanding partner base has been a key catalyst. The company inked an agreement with ev Transportation Services to distribute Blink’s EV charging equipment to fleet customers along with its FireFly ESV essential services vehicle. In the to-be-reported quarter, Blink inked a partnership with General Motors (GM - Free Report) , which made public charging more convenient for GM vehicle owners.
Blink’s expanding international footprint is likely to have driven top-line growth in the to-be-reported quarter.
Nonetheless, increasing expenses amid stiff competition from the likes of ChargePoint, Evercharge, and SemaConnect might have limited margin expansion in the second quarter.
Noteworthy Developments in Q2
In April, Blink announced the deployment of IQ 200 charging stations at the Native American Youth & Family Center in Portland, OR, funded by the Portland General Electric Drive Change Fund.
In May, Blink announced the acquisition of Blue Corner, a well-known European EV charging operator. Blue Corner’s chargers are located at 3,813 locations across Belgium, Luxembourg, the Netherlands and France. The buyout is expected to help Blink expand its international footprint, particularly in Europe.
Blink deployed its HQ 100 chargers in Santiago, Chile in the to-be-reported quarter. The company also announced that it has signed a long-term contract to deploy its EV charging stations at Fattal Hotels across Israel.
In June, Blink announced deployment of IQ 200 Level 2 EV charging stations at three locations of AtlantiCare Integrated Healthcare System, the largest healthcare organization in Southern New Jersey.
Insight into Upcoming Earnings Announcements
Blink has underperformed the Zacks Computer and Technology sector on a year-to-date basis. While this EV charging stock has declined 20.8%, the sector gained 22.4%.
Investors interested in the sector are eagerly awaiting earnings releases from players like Avnet (AVT - Free Report) and CyberArk Software (CYBR - Free Report) .
Avnet is set to release its fourth quarter fiscal 2021 results on Aug 11. The Zacks Consensus Estimate for earnings is pegged at 88 cents per share, up 15.8% over the past 30 days. Avnet sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
CyberArk, a Zacks Rank #2 (Buy), is scheduled to release second-quarter 2021 results on Aug 12. The Zacks Consensus Estimate for earnings stands at 3 cents per share, up a penny over the past 30 days.