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STEM Gears Up to Report Q1 Earnings: Here's What to Expect
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Stem (STEM - Free Report) is set to report first-quarter 2023 results on May 4.
The company’s first-quarter revenues are expected between $55 million and $65 million.
For the quarter, the Zacks Consensus Estimate for revenues is pegged at $60.1 million, suggesting growth of 46.26% from the figure reported in the year-ago quarter.
The consensus mark for first-quarter bottom line has declined by 3 cents in the past 30 days. The Zacks Consensus Estimate for first-quarter bottom line is pegged at a loss of 24 cents.
Stem’s first-quarter results are expected to reflect benefits of aligned sales force compensation to the gross margin. The gross margin is expected to have increased in the to-be-reported quarter.
Stem’s diversified revenue sources are expected to have aided the company’s top line against prevailing supply-chain constraints. It expected permitting and interconnection approvals to drive service revenue growth. Storage Opearting revenues are anticipated to have doubled in 2023. Solar asset management is likely to have contributed to the gross market significantly in the to-be-reported quarter.
In the first quarter, Stem partnered with ChargePoint to provide eMobility offerings. The partnership will aim to generate environmental, economic and resilience benefits to developers, operators and owners of EV charging stations. This is expected to have benefited the top line in the to-be-reported quarter.
In the first quarter, the Silicon Valley Bank reported bankruptcy. Stem expects less than 5% of cash and short-term investments to be impacted by the closure of the bank in the to-be-reported quarter.
However, the company incurred significant losses in the past and expects to record net losses throughout 2022. It expects adjusted EBITDA for 2023 between negative $5 million and negative $35 million.
What Our Model Says
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. But that’s not the case here.
STEM currently has an Earnings ESP of -2.13% and a Zacks Rank #3. 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 the upcoming releases:
PYCR is scheduled to release its first-quarter fiscal 2023 results on May 10. Shares of PYCR have lost 2% in the year-to-date period against the Zacks Internet - Software industry’s rise of 28.4%.
Blink Charging (BLNK - Free Report) has an Earnings ESP of +26.67% and a Zacks Rank #2 at present.
BLNK is scheduled to release its first-quarter fiscal 2023 results on May 9. Shares of BLNK have lost 36.1% in the year-to-date period compared with the Zacks Electronics-Miscellaneous Services industry’s decline of 14.9%.
DigitalOcean (DOCN - Free Report) has an Earnings ESP of +2.30% and a Zacks Rank #2 at present.
DOCN is scheduled to release its first-quarter fiscal 2023 results on May 9. DOCN shares have gained 24.6% in the year-to-date period compared with the Zacks Internet - Software industry’s rise of 28.4%.
Image: Bigstock
STEM Gears Up to Report Q1 Earnings: Here's What to Expect
Stem (STEM - Free Report) is set to report first-quarter 2023 results on May 4.
The company’s first-quarter revenues are expected between $55 million and $65 million.
For the quarter, the Zacks Consensus Estimate for revenues is pegged at $60.1 million, suggesting growth of 46.26% from the figure reported in the year-ago quarter.
The consensus mark for first-quarter bottom line has declined by 3 cents in the past 30 days. The Zacks Consensus Estimate for first-quarter bottom line is pegged at a loss of 24 cents.
Stem, Inc. Price and EPS Surprise
Stem, Inc. price-eps-surprise | Stem, Inc. Quote
Factors to Note
Stem’s first-quarter results are expected to reflect benefits of aligned sales force compensation to the gross margin. The gross margin is expected to have increased in the to-be-reported quarter.
Stem’s diversified revenue sources are expected to have aided the company’s top line against prevailing supply-chain constraints. It expected permitting and interconnection approvals to drive service revenue growth. Storage Opearting revenues are anticipated to have doubled in 2023. Solar asset management is likely to have contributed to the gross market significantly in the to-be-reported quarter.
In the first quarter, Stem partnered with ChargePoint to provide eMobility offerings. The partnership will aim to generate environmental, economic and resilience benefits to developers, operators and owners of EV charging stations. This is expected to have benefited the top line in the to-be-reported quarter.
In the first quarter, the Silicon Valley Bank reported bankruptcy. Stem expects less than 5% of cash and short-term investments to be impacted by the closure of the bank in the to-be-reported quarter.
However, the company incurred significant losses in the past and expects to record net losses throughout 2022. It expects adjusted EBITDA for 2023 between negative $5 million and negative $35 million.
What Our Model Says
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. But that’s not the case here.
STEM currently has an Earnings ESP of -2.13% and a Zacks Rank #3. 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 the upcoming releases:
Paycor HCM (PYCR - Free Report) currently has an Earnings ESP of +3.70% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
PYCR is scheduled to release its first-quarter fiscal 2023 results on May 10. Shares of PYCR have lost 2% in the year-to-date period against the Zacks Internet - Software industry’s rise of 28.4%.
Blink Charging (BLNK - Free Report) has an Earnings ESP of +26.67% and a Zacks Rank #2 at present.
BLNK is scheduled to release its first-quarter fiscal 2023 results on May 9. Shares of BLNK have lost 36.1% in the year-to-date period compared with the Zacks Electronics-Miscellaneous Services industry’s decline of 14.9%.
DigitalOcean (DOCN - Free Report) has an Earnings ESP of +2.30% and a Zacks Rank #2 at present.
DOCN is scheduled to release its first-quarter fiscal 2023 results on May 9. DOCN shares have gained 24.6% in the year-to-date period compared with the Zacks Internet - Software industry’s rise of 28.4%.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.