Investing

Earnings Previews: Blink, Lordstown Motors, Phunware, Sundial, TMC

The number of companies reporting quarterly earnings this week has swelled to more than 1,000 as more companies confirm their plans. Of the four firms we recently previewed, two (Coinbase and Plug Power) missed both earnings and revenue estimates, while Nio beat the consensus revenue estimate but missed on profits. 23andMe delayed its report to Wednesday afternoon.

After markets close on Wednesday, Affirm, Disney, Progenity and SoFi are also expected to report quarterly results. Two more companies (ArcelorMittal and Hut 8) are on deck for Thursday morning.

Here are previews of five reports due out after markets close on Thursday.

Blink

Shares of electric vehicle charging station maker and distributor Blink Charging Co. (NASDAQ: BLNK) surged in late January to a 12-month gain of more than 500%. That surge has been cut in half, and the stock currently trades up about 250% compared with its year-ago price. The share jumped 24% between last Friday’s and Monday’s close thanks to the now-passed federal infrastructure bill. The bill includes some $7.5 billion to add 500,000 EV charging stations to the country’s charging network.

Investors have liked the stock for the past year, but Tuesday brought some second thoughts, apparently, as shares gave back about half of Monday’s gain.

Analysts remain bullish on the stock. Only seven brokerages cover the company, and four rate the shares a Hold while three more have either a Buy or Strong Buy rating. At a recent price of around $34.00 a share, the stock trades above its median price target of $33.50. At the high target of $40, the potential upside is 19%.

Third-quarter revenue is forecast at $4.72 million, which would be up 8.4% sequentially and nearly 420% higher year over year. On a GAAP basis, the estimated loss per share is $0.27 for the quarter, better than the loss of $0.32 per share in the prior quarter, but more than the year-ago loss of $0.12 per share. For fiscal 2021, analysts expect Blink to post a loss per share of $1.05, compared to last year’s loss of $0.59 per share, on revenue of $16.36 million, up 162%.

Blink is not expected to post a profit in 2021, 2022 or 2023. The enterprise value-to-sales multiple is expected to be 78.4 in 2021. Based on estimated earnings for 2023 and 2024, multiples are 46.4 and 24.5, respectively. The stock’s 52-week range is $9.21 to $64.50. Blink does not pay a dividend.