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What's in the Cards for Blink Charging's (BLNK) Q1 Earnings?

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Blink Charging (BLNK - Free Report) is scheduled to release first-quarter 2022 results on May 9.

The Zacks Consensus Estimate for the top line is currently pegged at $6.42 million, indicating a whopping growth of 187.76% from the year-ago quarter.

The consensus mark for loss has been unchanged at 40 cents per share but is wider than 18 cents reported in the prior-year quarter.

The company’s earnings missed the Zacks Consensus Estimate in three of the trailing four quarters and matched once, the average negative surprise being 35.79%.

Blink Charging Co. Price and EPS Surprise

Factors to Note

Blink Charging's first-quarter performance is likely to have benefited from improving demands for electronic vehicles (EV). The International Energy Agency has projected that global EV sales are expected to go from 3 million vehicles in 2020 to about 25 million vehicles in 2030, courtesy of growing awareness about lowering one's carbon footprint to counter global warming.

The U.S Department of Energy stated that the 100,000th EV charger was installed in 2021 in sync with the plan to reduce carbon footprint. A favorable legislative environment to adopt zero-emission EVs, both nationally and globally, might have favored the company’s to-be-reported quarter’s top line.

In order to address rising global demand, Blink Charging opened a new office in Noida to develop and innovate new products. This is expected to aid the company tap into the Asia Pacific and Middle Eastern regions and gaining new customers.

An uptick in demand across the automotive domain for EVs as economies reopened and lockdowns were lifted may have acted as a tailwind. An increase in sales of EV transportation will lead to a rise in the need for additional charging infrastructure. This may have contributed to Blink Charging’s top line in the quarter to be reported.

Nonetheless, increasing expenses due to record high inflation and stiff competition might have weighed on margin expansion in the first quarter.

What Our Model Indicates

Our proven model doesn’t conclusively predict earnings beat for Blink Charging this time around. Per the Zacks model, 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. However, that is not the case here.

BLNK has a Zacks Rank #4 (Sell) and an Earnings ESP of 0.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Stocks to Consider

Here are some companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:

BWX Technologies (BWXT - Free Report) has an Earnings ESP of +2.29% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.

BWX’s shares have returned 5.7% in the year-to-date period against the Zacks Computer and Technology sector’s decline of 22.9%.

Cisco Systems (CSCO - Free Report) has an Earnings ESP of +0.84% and a Zacks Rank of 2.

Cisco’s shares have fallen 22% year to date.

Analog Devices (ADI - Free Report) has an Earnings ESP of +2.17% and a Zacks Rank #2.

Analog Devices’ shares have declined 10.7% in the year-to-date period.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.