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ChargePoint (CHPT) to Report Q4 Earnings: What's in Store?
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ChargePoint Holdings, Inc. (CHPT - Free Report) is slated to release fourth-quarter fiscal 2024 results on Mar 5, after the closing bell. The Zacks Consensus Estimate for the to-be-reported loss per share and revenues is pegged at 12 cents and $126.48 million, respectively.
For the fiscal fourth quarter, the consensus estimate for the electric vehicle (EV) charging company’s loss per share has widened by 2 cents in the past 90 days. Its bottom-line estimates imply an increase of 7.69% from the year-ago reported number.
The Zacks Consensus Estimate for ChargePoint’s quarterly revenues suggests a 17.24% year-over-year decline. Over the trailing four quarters, it surpassed earnings estimates on two occasions and missed twice, the average negative surprise being 19.56%. This is depicted in the graph below:
In third-quarter fiscal 2024, ChargePoint’s loss per share of 29 cents was wider than the Zacks Consensus Estimate of a loss of 22 cents. The company had incurred a loss of 17 cents per share in the year-ago quarter. CHPT reported net sales of $110.3 million, lagging the Zacks Consensus Estimate of $117 million. The top line decreased 12% year over year.
Factors at Play
High prices of many new EV models and consumer reluctance to switch to battery power due to concerns about refueling infrastructure have slowed down e-mobility adoption. Also, commercial charter demand has decreased due to elevated interest rates and economic uncertainty. Increased waiting time and decreasing demand are likely to have hurt the company’s results in the to-be-reported quarter.
In the fiscal third quarter of 2024, ChargePoint’s cost of revenues increased 30.7% to $134.2 million. Also, research and development and general and administrative expenses went up 17.5% and 49%, respectively. Rising expenses are likely to have weighed on the company’s margin in the fiscal fourth quarter. The company’s capital expenditure in the first nine months of fiscal 2024 rose to $14.6 million, up from $14.1 million reported in the year-ago period. While high capital expenditure supports the company’s long-term vision, it might limit its near-term cash inflows.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for the ChargePoint for the quarter to be reported, as it does not have the right combination of the two key ingredients. A positive Earnings ESP, combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), increases the odds of an earnings beat.
Earnings ESP: ChargePoint has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate is pegged on par with the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: It currently carries a Zacks Rank #4 (Sell).
Earning Whispers for Peers
EVgo, Inc. (EVGO - Free Report) has an Earnings ESP of -42.53% and is slated to release fourth-quarter fiscal 2023 results on Mar 6. The Zacks Consensus Estimate for EVGO’s loss per share for the to-be-reported quarter is pegged at 22 cents. It currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Evgo surpassed earnings estimates in each of the trailing four quarters, with the average surprise being 57.88%.
Blink Charging Co. (BLNK - Free Report) has an Earnings ESP of 0.00% and is slated to release fourth-quarter fiscal 2023 results on Mar 14. The Zacks Consensus Estimate for BLNK’s loss per share for the to-be-reported quarter is pegged at 34 cents. It currently carries a Zacks Rank #2.
Blink surpassed earnings estimates in three of the trailing four quarters and missed once, with the average surprise being 20.84%.
Image: Bigstock
ChargePoint (CHPT) to Report Q4 Earnings: What's in Store?
ChargePoint Holdings, Inc. (CHPT - Free Report) is slated to release fourth-quarter fiscal 2024 results on Mar 5, after the closing bell. The Zacks Consensus Estimate for the to-be-reported loss per share and revenues is pegged at 12 cents and $126.48 million, respectively.
For the fiscal fourth quarter, the consensus estimate for the electric vehicle (EV) charging company’s loss per share has widened by 2 cents in the past 90 days. Its bottom-line estimates imply an increase of 7.69% from the year-ago reported number.
The Zacks Consensus Estimate for ChargePoint’s quarterly revenues suggests a 17.24% year-over-year decline. Over the trailing four quarters, it surpassed earnings estimates on two occasions and missed twice, the average negative surprise being 19.56%. This is depicted in the graph below:
ChargePoint Holdings, Inc. Price and EPS Surprise
ChargePoint Holdings, Inc. price-eps-surprise | ChargePoint Holdings, Inc. Quote
Q3 Highlights
In third-quarter fiscal 2024, ChargePoint’s loss per share of 29 cents was wider than the Zacks Consensus Estimate of a loss of 22 cents. The company had incurred a loss of 17 cents per share in the year-ago quarter. CHPT reported net sales of $110.3 million, lagging the Zacks Consensus Estimate of $117 million. The top line decreased 12% year over year.
Factors at Play
High prices of many new EV models and consumer reluctance to switch to battery power due to concerns about refueling infrastructure have slowed down e-mobility adoption. Also, commercial charter demand has decreased due to elevated interest rates and economic uncertainty. Increased waiting time and decreasing demand are likely to have hurt the company’s results in the to-be-reported quarter.
In the fiscal third quarter of 2024, ChargePoint’s cost of revenues increased 30.7% to $134.2 million. Also, research and development and general and administrative expenses went up 17.5% and 49%, respectively. Rising expenses are likely to have weighed on the company’s margin in the fiscal fourth quarter. The company’s capital expenditure in the first nine months of fiscal 2024 rose to $14.6 million, up from $14.1 million reported in the year-ago period. While high capital expenditure supports the company’s long-term vision, it might limit its near-term cash inflows.
Earnings Whispers
Our proven model does not conclusively predict an earnings beat for the ChargePoint for the quarter to be reported, as it does not have the right combination of the two key ingredients. A positive Earnings ESP, combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold), increases the odds of an earnings beat.
Earnings ESP: ChargePoint has an Earnings ESP of 0.00%. This is because the Most Accurate Estimate is pegged on par with the Zacks Consensus Estimate. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Zacks Rank: It currently carries a Zacks Rank #4 (Sell).
Earning Whispers for Peers
EVgo, Inc. (EVGO - Free Report) has an Earnings ESP of -42.53% and is slated to release fourth-quarter fiscal 2023 results on Mar 6. The Zacks Consensus Estimate for EVGO’s loss per share for the to-be-reported quarter is pegged at 22 cents. It currently sports a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Evgo surpassed earnings estimates in each of the trailing four quarters, with the average surprise being 57.88%.
Blink Charging Co. (BLNK - Free Report) has an Earnings ESP of 0.00% and is slated to release fourth-quarter fiscal 2023 results on Mar 14. The Zacks Consensus Estimate for BLNK’s loss per share for the to-be-reported quarter is pegged at 34 cents. It currently carries a Zacks Rank #2.
Blink surpassed earnings estimates in three of the trailing four quarters and missed once, with the average surprise being 20.84%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.