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Wrapping up Q3 earnings, we look at the numbers and key takeaways for the renewable energy stocks, including Bloom Energy (NYSE:BE) and its peers.
Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.
The 16 renewable energy stocks we track reported a satisfactory Q3. As a group, revenues beat analysts’ consensus estimates by 4.5% while next quarter’s revenue guidance was in line.
Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 10.3% since the latest earnings results.
Working in stealth mode for eight years, Bloom Energy (NYSE:BE) designs, manufactures, and markets solid oxide fuel cell systems for on-site power generation.
Bloom Energy reported revenues of $519 million, up 57.1% year on year. This print exceeded analysts’ expectations by 22.8%. Overall, it was an incredible quarter for the company with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Unsurprisingly, the stock is down 22.5% since reporting and currently trades at $87.76.
Supplying batteries that power equipment as big as mining rigs, EnerSys (NYSE:ENS) manufactures various kinds of batteries for a range of industries.
EnerSys reported revenues of $951.3 million, up 7.6% year on year, outperforming analysts’ expectations by 6.9%. The business had an exceptional quarter with an impressive beat of analysts’ sales volume estimates and EPS guidance for next quarter exceeding analysts’ expectations.
The market seems happy with the results as the stock is up 16.2% since reporting. It currently trades at $147.35.
Is now the time to buy EnerSys? Access our full analysis of the earnings results here, it’s free for active Edge members.
With its name deriving from a combination of “generating” and “AC”, Generac (NYSE:GNRC) offers generators and other power products for residential, industrial, and commercial use.
Generac reported revenues of $1.11 billion, down 5% year on year, falling short of analysts’ expectations by 6.6%. It was a disappointing quarter as it posted a miss of analysts’ Residential revenue estimates and a significant miss of analysts’ revenue estimates.
As expected, the stock is down 16.7% since the results and currently trades at $158.39.
Read our full analysis of Generac’s results here.
The first company to successfully commercialize the solar micro-inverter, Enphase (NASDAQ:ENPH) manufactures software-driven home energy products.
Enphase reported revenues of $410.4 million, up 7.8% year on year. This number surpassed analysts’ expectations by 12%. Overall, it was a strong quarter as it also put up a beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.
The stock is down 15% since reporting and currently trades at $31.29.
Read our full, actionable report on Enphase here, it’s free for active Edge members.
One of the first EV charging companies to go public, Blink Charging (NASDAQ:BLNK) is a manufacturer, owner, operator, and provider of electric vehicle charging equipment and networked EV charging services.
Blink Charging reported revenues of $27.03 million, up 7.3% year on year. This print missed analysts’ expectations by 9.6%. Zooming out, it was a satisfactory quarter as it also recorded an impressive beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ revenue estimates.
The stock is down 47% since reporting and currently trades at $0.81.
Read our full, actionable report on Blink Charging here, it’s free for active Edge members.
Thanks to the Fed’s rate hikes in 2022 and 2023, inflation has been on a steady path downward, easing back toward that 2% sweet spot. Fortunately (miraculously to some), all this tightening didn’t send the economy tumbling into a recession, so here we are, cautiously celebrating a soft landing. The cherry on top? Recent rate cuts (half a point in September 2024, a quarter in November) have propped up markets, especially after Trump’s November win lit a fire under major indices and sent them to all-time highs. However, there’s still plenty to ponder — tariffs, corporate tax cuts, and what 2025 might hold for the economy.
Want to invest in winners with rock-solid fundamentals? Check out our Top 5 Quality Compounder Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
StockStory’s analyst team — all seasoned professional investors — uses quantitative analysis and automation to deliver market-beating insights faster and with higher quality.
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