CHPT - ChargePoint earnings look-ahead : All eyes on outlook expenses

2023-09-05 13:10:19 ET

Electric charging equipment maker ChargePoint Holdings ( NYSE: CHPT ) is set to report second quarter results on Wednesday after markets close.

Wall Street expects ChargePoint to post loss per share of $0.13 on revenue of $152.83 million, implying a rise of more than 40% year-over-year.

Along with outlook, investors will focus on the California – based company’s efforts on lowering expenses. Its operating expenses during the previous quarter stood at $110.5 million, compared to $101.9 million, a year ago.

A recent Seeking Alpha analysis pointed out that it's crucial to see tangible financial results and management's delivery of profitability in FY2024.

JPMorgan analyst Bill Peterson also warned that ChargePoint could miss expectations, although investors were advised to look at the long-term upside on the EV battery charging specialist.

Companies like ChargePoint and Blink Charging ( BLNK ) are benefiting as the rapid adoption for electric-vehicles is driving demand for charging stations with research firm Wood Mackenzie noting that the number of EV charging ports in the U.S. is estimated to increase four times from current levels to 18M by 2027.

Seeking Alpha analysts rate the stock a “hold”, Wall Street is rating it a “buy” and Seeking Alpha’s Quant rating considers it a “sell”.  The stock has lost nearly 19% so far this year.

Over the last three months, EPS estimates have seen no upward revisions, compared to four downward revisions, while revenue estimates have seen no upward revisions, versus 10 downward moves.

More on ChargePoint Holdings

• Seeking Alpha’s Quant Rating on ChargePoint Holdings
• Historical earnings data for ChargePoint Holdings
• ChargePoint: Long-Term Growth Potential Clouded By Short-Term Financial Worries
• ChargePoint: On A Good Path, But Stuck In A Lackluster Industry
• ChargePoint Holdings is a top clean tech pick at JPMorgan
• ChargePoint secures new $150M revolving credit facility
• ChargePoint announces availability of Tesla's NACS charging options solutions for new and existing EV charging deployments
• Electric vehicle charging stocks fall with more automakers moving to Tesla charging standard

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