Electricity storage and software provider Fluence (NASDAQ: FLNC) will be reporting results this Monday after market hours. Here’s what investors should know.
Fluence Energy beat analysts’ revenue expectations by 29.8% last quarter, reporting revenues of $431.6 million, down 30.7% year on year. It was a slower quarter for the company, with full-year revenue guidance missing analysts’ expectations significantly and full-year EBITDA guidance missing analysts’ expectations significantly. It reported 19,900 deployed megawatts for digital contracts, up 15.7% 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 grow 57.9% year on year to $763.4 million, a reversal from the 9.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.01 per share.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 5 downward revisions over the last 30 days (we track 15 analysts). Fluence Energy has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Fluence Energy’s peers in the renewable energy segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Generac delivered year-on-year revenue growth of 6.3%, beating analysts’ expectations by 3.4%, and Sunrun reported revenues up 8.7%, topping estimates by 4%. Generac traded up 28.9% following the results while Sunrun was also up 16.5%.
Read our full analysis of Generac’s results here and Sunrun’s results here.
Investors in the renewable energy segment have had steady hands going into earnings, with share prices flat over the last month. Fluence Energy is up 1.4% during the same time and is heading into earnings with an average analyst price target of $8.74 (compared to the current share price of $8.29).
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