Electricity storage and software provider Fluence (NASDAQ: FLNC) will be announcing earnings results tomorrow after market close. Here’s what investors should know.
Fluence Energy missed analysts’ revenue expectations by 50.5% last quarter, reporting revenues of $186.8 million, down 48.7% year on year. It was a disappointing quarter for the company, with full-year revenue guidance missing analysts’ expectations. It reported 18,700 deployed megawatts for digital contracts, up 10% year on year.
Is Fluence Energy a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Fluence Energy’s revenue to decline 44.9% year on year to $343.5 million, a further deceleration from the 10.7% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.21 per share.
Analysts covering the company have generally 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 five 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. Generac delivered year-on-year revenue growth of 5.9%, beating analysts’ expectations by 2.3%, and Bloom Energy reported revenues up 38.6%, topping estimates by 11.9%. Generac’s stock price was unchanged after the results, while Bloom Energy was down 8.2%.
Read our full analysis of Generac’s results here and Bloom Energy’s results here.
There has been positive sentiment among investors in the renewable energy segment, with share prices up 12.3% on average over the last month. Fluence Energy is down 1.7% during the same time and is heading into earnings with an average analyst price target of $7.70 (compared to the current share price of $4.22).
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