In its upcoming report, Bloom Energy (BE) is predicted by Wall Street analysts to post quarterly earnings of $0.71 per share, reflecting an increase of 373.3% compared to the same period last year. Revenues are forecasted to be $1.07 billion, representing a year-over-year increase of 106.3%.
Over the last 30 days, there has been a downward revision of 3.9% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.
In light of this perspective, let's dive into the average estimates of certain Bloom Energy metrics that are commonly tracked and forecasted by Wall Street analysts.
It is projected by analysts that the 'Revenue- Installation' will reach $67.44 million. The estimate points to a change of +2.5% from the year-ago quarter.
The average prediction of analysts places 'Revenue- Service' at $77.68 million. The estimate indicates a year-over-year change of +32.5%.
Analysts' assessment points toward 'Revenue- Electricity' reaching $13.45 million. The estimate indicates a change of +29.9% from the prior-year quarter.
Analysts forecast 'Revenue- Product' to reach $900.01 million. The estimate suggests a change of +134.2% year over year.
Based on the collective assessment of analysts, 'Gross profit (loss)- Product' should arrive at $360.65 million. Compared to the present estimate, the company reported $134.52 million in the same quarter last year.
Analysts predict that the 'Gross profit (loss)- Electricity' will reach $3.72 million. The estimate is in contrast to the year-ago figure of $4.53 million.
Analysts expect 'Gross profit (loss)- Service' to come in at $10.01 million. The estimate is in contrast to the year-ago figure of $6.77 million.
According to the collective judgment of analysts, 'Gross profit (loss)- Installation' should come in at -$22.80 million. Compared to the current estimate, the company reported $5.85 million in the same quarter of the previous year.
View all Key Company Metrics for Bloom Energy here>>>Over the past month, shares of Bloom Energy have returned -17.1% versus the Zacks S&P 500 composite's +0.7% change. Currently, BE carries a Zacks Rank #3 (Hold), suggesting that its performance may align with the overall market in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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Bloom Energy Corporation (BE): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).