As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q4. Today, we are looking at renewable energy stocks, starting with ChargePoint (NYSE:CHPT).
Wall Street has set ambitious price targets for the stocks in this article.
While this suggests attractive upside potential, it’s important to remain skeptical because analysts face institutional pressures that can sometimes lead to overly optimistic forecasts.
Industrials businesses quietly power the physical things we depend on, from cars and homes to e-commerce infrastructure. But they are at the whim of volatile macroeconomic factors that influence capital spending (like interest rates), and the market seems convinced that demand will slow.
Due to this bearish outlook, the industry has tumbled by 18.6% over the past six months. This drop was worse than the S&P 500’s 11% loss.
As the Q4 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the renewable energy industry, including Blink Charging (NASDAQ:BLNK) and its peers.
Looking back on renewable energy stocks’ Q4 earnings, we examine this quarter’s best and worst performers, including Bloom Energy (NYSE:BE) and its peers.
ChargePoint has opened five ultra-fast EV charging stations across upstate New York, supported by the New York State Energy Research and Development Authority (NYSERDA). These stations, located in cities like Cortland and Niagara Falls, aim to expand EV infrastructure, especially in underserved areas, facilitating greater access to sustainable transportation.
ChargePoint reaffirmed its goal of achieving positive adjusted EBITDA in a quarter of fiscal 2026, while EVgo reiterated its goal of reaching adjusted EBITDA breakeven in 2025
The three major indices were mostly flat in midday trading Wednesday with the S&P 500 and Nasdaq slightly under the flatline and the Dow Jones up 39 points.
EV charging solutions provider ChargePoint Holdings (NYSE:CHPT) missed Wall Street’s revenue expectations in Q4 CY2024, with sales falling 12% year on year to $101.9 million. Next quarter’s revenue guidance of $100 million underwhelmed, coming in 1.3% below analysts’ estimates. Its GAAP loss of $0.14 per share was in line with analysts’ consensus estimates.
