ChargePoint (CHPT) To Report Earnings Tomorrow: Here Is What To Expect

EV charging solutions provider ChargePoint Holdings (NYSE:CHPT) will be reporting results this Wednesday after the bell. Here’s what to look for.

ChargePoint missed analysts’ revenue expectations by 3.2% last quarter, reporting revenues of $97.64 million, down 8.8% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.

Is ChargePoint a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting ChargePoint’s revenue to decline 12.1% year on year to $95.44 million, improving from the 27.9% decrease it recorded in the same quarter last year. Adjusted loss is expected to come in at -$1.18 per share.

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.

Looking at ChargePoint’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 33.2%.

Read our full analysis of Generac’s results here and Sunrun’s results here.

There has been positive sentiment among investors in the renewable energy segment, with share prices up 5.8% on average over the last month. ChargePoint is up 14.3% during the same time and is heading into earnings with an average analyst price target of $21.06 (compared to the current share price of $11.13).

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