Blink Charging Q4 Earnings Preview: Analyst Estimates, EBITDA Focus, New Manufacturing Expansion

Electric vehicle charging company Blink Charging Co BLNK reports fourth-quarter financial results after market close Thursday, March 14.

Here's a look at the earnings estimates, what analysts are saying and key items to watch.

Earnings Estimates: Analysts expect Blink to report fourth-quarter revenue of $35.6444 million according to data from Benzinga Pro.

The total would be an increase from the $22.61 million reported in the fourth quarter of last year, but down from $43.38 million reported in the most recent third quarter.

Blink Charging has beaten revenue estimates from analysts in four of the last five quarters.

Analysts expect Blink to report a loss of 31 cents per share in the fourth quarter, compared to a loss of 41 cents per share in the prior year's fourth quarter. The company has beaten earnings per share estimates in four of the last five quarters.

Blink announced preliminary results for the fourth quarter previously saying it expected revenue of $42 million or more. For the full fiscal year, the company said revenue should exceed $140 million, which would be ahead of a previous guided range of $128 million to $133 million.

"We are excited about our record-breaking fourth-quarter and full-year 2023 revenue growth. We saw strong demand for both our equipment and services," Blink CEO Brendan Jones said.

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What Analysts Are Saying: EV charger installations lagging electric vehicle adoption is a key item highlighted by Needham analyst Chris Pierce.

The analyst has a Buy rating and $7 price target on Blink Charging.

Pierce also highlighted the leadership team and turnaround efforts of Blink in a January investor note.

"BLNK's revamped leadership team has shown improved execution and crisper investor communication and benefits from low expectations offsetting telegraphed dilution, with a $100M raise in 1H23 marking BLNK's last capital raise in our model," Pierce said.

The analyst said that vertical integration of Blink is helping to drive "industry-leading gross margin."

Key Items to Watch: Analysts and investors will be looking for new guidance for the next fiscal year from Blink Charging.

An update on the company saying it would hit a positive adjusted EBITDA run rate by December 2024 will also be a key item to watch.

Earlier this week the company announced the expansion of its manufacturing facility in Maryland and its global headquarters. The news item will likely be a key piece of the earnings results and any forward guidance.

"We are committed to implementing innovative technology and manufacturing processes to enhance efficiency, capability, and output speed while maintaining quality standards," Jones said.

The new expansion is expected to lead to an annual production capacity of over 50,000 charging units, compared to a current rate of 15,000 units annually.

BLNK Price Action: Blink shares trade at $3.25 versus a 52-week trading range of $2.18 to $8.90. Shares of Blink are down 59% over the last year.

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Photo: Courtesy of Blink