Q4 Rundown: Blink Charging (NASDAQ:BLNK) Vs Other Renewable Energy Stocks

Q4 Rundown: Blink Charging (NASDAQ:BLNK) Vs Other Renewable Energy Stocks

As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the renewable energy industry, including Blink Charging (NASDAQ:BLNK) and its peers.

Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.

The 17 renewable energy stocks we track reported a mixed Q4. As a group, revenues missed analysts’ consensus estimates by 4.6% while next quarter’s revenue guidance was 0.6% above.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 16.3% since the latest earnings results.

Blink Charging (NASDAQ:BLNK)

One of the first EV charging companies to go public, Blink Charging (NASDAQ:BLNK) is a manufacturer, owner, operator, and provider of electric vehicle charging equipment and networked EV charging services.

Blink Charging reported revenues of $30.18 million, down 29.3% year on year. This print fell short of analysts’ expectations by 5.2%. Overall, it was a slower quarter for the company with a significant miss of analysts’ adjusted operating income estimates.

“We are focused on achieving profitability and expanding our charging network globally. Our flexible business models, advanced software and network, and portfolio of diverse charging solutions position us as a charging infrastructure leader,” commented Mike Battaglia, President and Chief Executive Officer of Blink Charging.

Q4 Rundown: Blink Charging (NASDAQ:BLNK) Vs Other Renewable Energy Stocks

The stock is up 1.1% since reporting and currently trades at $0.91.

Is now the time to buy Blink Charging? Access our full analysis of the earnings results here, it’s free .

Best Q4: Bloom Energy (NYSE:BE)

Working in stealth mode for eight years, Bloom Energy (NYSE:BE) designs, manufactures, and markets solid oxide fuel cell systems for on-site power generation.

Bloom Energy reported revenues of $572.4 million, up 60.4% year on year, outperforming analysts’ expectations by 12.8%. The business had an incredible quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.

Q4 Rundown: Blink Charging (NASDAQ:BLNK) Vs Other Renewable Energy Stocks

Bloom Energy scored the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. Although it had a fine quarter compared to its peers, the market seems unhappy with the results as the stock is down 8.5% since reporting. It currently trades at $21.06.

OK