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The Zacks Consensus Estimate for the top line is currently pegged at $14.55 million, indicating a whopping growth of 127.38% from the year-ago quarter.
The consensus mark for loss has been unchanged at 49 cents per share for the past 30 days and represents a 36.11% year-over-year decline in the bottom line.
The company’s earnings missed the Zacks Consensus Estimate in three of the trailing four quarters and matched once, the average negative surprise being 17.32%.
Blink Charging's third-quarter performance is likely to have benefited from improving demands for electronic vehicles (EVs). Per the International Energy Agency, 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 carbon footprint to counter global warming.
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. The Biden government recently approved the first-round funding of $900 million for the nationwide development of EV charging infrastructure through its Inflation Reduction act. Also positively impacting the EV industry is the CHIPS and Science Act, which is helping to solve the U.S. semiconductor supply chain issue and boosting EV production and sales. While this might not be reflected in the third-quarter results, it indicates the positive social and economic environment the company is operating in amidst such an economic crisis globally.
An uptick in demand across the automotive domain for EVs as economies reopened and lockdowns were lifted might 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 is likely to 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 third quarter.
What Our Model Indicates
Our proven model doesn’t conclusively predict an 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 #3 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 a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
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What's in the Cards for Blink Charging's (BLNK) Q3 Earnings?
Blink Charging (BLNK - Free Report) is scheduled to release third-quarter 2022 results on Nov 8.
The Zacks Consensus Estimate for the top line is currently pegged at $14.55 million, indicating a whopping growth of 127.38% from the year-ago quarter.
The consensus mark for loss has been unchanged at 49 cents per share for the past 30 days and represents a 36.11% year-over-year decline in the bottom line.
The company’s earnings missed the Zacks Consensus Estimate in three of the trailing four quarters and matched once, the average negative surprise being 17.32%.
Blink Charging Co. Price and EPS Surprise
Blink Charging Co. price-eps-surprise | Blink Charging Co. Quote
Factors to Note
Blink Charging's third-quarter performance is likely to have benefited from improving demands for electronic vehicles (EVs). Per the International Energy Agency, 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 carbon footprint to counter global warming.
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. The Biden government recently approved the first-round funding of $900 million for the nationwide development of EV charging infrastructure through its Inflation Reduction act. Also positively impacting the EV industry is the CHIPS and Science Act, which is helping to solve the U.S. semiconductor supply chain issue and boosting EV production and sales. While this might not be reflected in the third-quarter results, it indicates the positive social and economic environment the company is operating in amidst such an economic crisis globally.
An uptick in demand across the automotive domain for EVs as economies reopened and lockdowns were lifted might 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 is likely to 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 third quarter.
What Our Model Indicates
Our proven model doesn’t conclusively predict an 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 #3 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 a few companies worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases:
Backblaze (BLZE - Free Report) currently has an Earnings ESP of +7.41% and a Zacks Rank #3. You can see the complete list of today’s Zacks #1 Rank stocks here.
BLZE shares have lost 75.1% in the year-to-date period compared with the Zacks Internet - Software industry’s decline of 64.1%.
Tencent Music Entertainment Group (TME - Free Report) has an Earnings ESP of +4.76% and a Zacks Rank #2 at present.
TME shares have lost 42.1% in the year-to-date period compared with the Zacks Internet - Content industry’s decline of 41.8%.
The Trade Desk (TTD - Free Report) has an Earnings ESP of +2.13% and a Zacks Rank #2 at present.
TME shares have lost 49.5% in the year-to-date period compared with the Zacks Internet - Services industry’s decline of 42.1%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.