Blink Charging Full Year 2023 Earnings: Revenues Beat Expectations, EPS Lags
Blink Charging (NASDAQ:BLNK) Full Year 2023 Results
Key Financial Results
Revenue: US$140.6m (up 130% from FY 2022).
Net loss: US$203.7m (loss widened by 123% from FY 2022).
US$3.21 loss per share (further deteriorated from US$1.95 loss in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Blink Charging Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 6.5%. Earnings per share (EPS) missed analyst estimates by 16%.
In the last 12 months, the only revenue segment was Sale and Distribution of Electric Vehicle Charging Equipment contributing US$140.6m. Notably, cost of sales worth US$96.1m amounted to 68% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to US$127.8m (52% of total expenses). Explore how BLNK's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 26% p.a. on average during the next 3 years, compared to a 8.2% growth forecast for the Electrical industry in the US.
Performance of the American Electrical industry.
The company's shares are down 6.1% from a week ago.
Risk Analysis
You still need to take note of risks, for example - Blink Charging has 2 warning signs (and 1 which makes us a bit uncomfortable) we think you should know about.
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