Electricity storage and software provider Fluence (NASDAQ: FLNC) will be reporting earnings this Wednesday after market hours. Here’s what to look for.
Fluence Energy missed analysts’ revenue expectations last quarter, reporting revenues of $475.2 million, up 154% year on year. It was a softer quarter for the company, with a significant miss of analysts’ adjusted operating income estimates and a significant miss of analysts’ EBITDA estimates. It reported 22,800 deployed megawatts for digital contracts, up 21.9% year on year.
Is Fluence Energy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Fluence Energy’s revenue to grow 41.7% year on year, a reversal from the 30.7% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Fluence Energy has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Fluence Energy’s peers in the renewable energy segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Bloom Energy delivered year-on-year revenue growth of 130%, beating analysts’ expectations by 42%, and Generac reported revenues up 12.4%, topping estimates by 1.1%. Bloom Energy traded up 27.2% following the results while Generac was also up 19.4%.
Read our full analysis of Bloom Energy’s results here and Generac’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 7.6% on average over the last month. Fluence Energy is down 7% during the same time and is heading into earnings with an average analyst price target of $15.24 (compared to the current share price of $12.28).
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