Stock Story -
Electricity storage and software provider Fluence (NASDAQ:FLNC) will be reporting earnings tomorrow after the bell. Here's what investors should know.
Fluence Energy beat analysts' revenue expectations by 10.4% last quarter, reporting revenues of $623.1 million, down 10.7% year on year. It was a mixed quarter for the company, with a miss of analysts' earnings estimates.
Is Fluence Energy a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Fluence Energy's revenue to decline 13.7% year on year to $462.8 million, a reversal from the 124% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.11 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. Fluence Energy has missed Wall Street's revenue estimates three times over the last two years.
Looking at Fluence Energy's peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Nextracker delivered year-on-year revenue growth of 50.1%, beating analysts' expectations by 16.8%, and Generac reported flat revenue, in line with consensus estimates. Nextracker traded down 10.3% following the results while Generac was also down 6.4%.
Read the full analysis of Nextracker's and Generac's results on StockStory.
Investors in the electrical equipment segment have had steady hands going into earnings, with share prices flat over the last month. Fluence Energy is down 15.6% during the same time and is heading into earnings with an average analyst price target of $27.8 (compared to the current share price of $14.5).
