Bloom Energy
BE
is scheduled to release first-quarter 2021 results on May 5, after market close. This clean energy producer company delivered a negative earnings surprise of 500% in the last reported quarter.
Let’s discuss the factors that are likely to get reflected in the upcoming quarterly results.
Factors to Note
Bloom Energy’s ongoing cost-saving initiatives and elimination of high-cost debt are likely to have boosted earnings in the first quarter.
The company’s high project visibility on account of strong backlog, efforts to reduce product costs, improving service revenues and diversified customer base are also likely to have had a positive impact on the top line in the first quarter.
Expectation
The Zacks Consensus Estimate for quarterly loss is pegged at 8 cents per share, which indicates a 76.5% year-over-year improvement from the year-ago reported quarter.
What Our Quantitative Model Predicts
Our proven model does not conclusively predict an earnings beat for Bloom Energy this time around. The combination of a positive
Earnings ESP
and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. That is the case here as you will see below.
Bloom Energy Corporation Price and EPS Surprise
Bloom Energy Corporation price-eps-surprise
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Bloom Energy Corporation Quote
Earnings ESP
: The company’s Earnings ESP is -8.33%. You can uncover the best stocks to buy or sell before they’re reported with our
Earnings ESP Filter
.
Zacks Rank
: Currently, Bloom Energy carries a Zacks Rank #3. You can see
the complete list of today’s Zacks #1 Rank stocks here
.
Stocks to Consider
Investors can consider the following players from the same
industry
that have the right combination of elements to post an earnings beat in the to-be-reported quarter.
Ameresco, Inc.
AMRC
is likely to come up with a beat when it reports first-quarter results on May 4, 2021. It has an Earnings ESP of +18.52% and a Zacks Rank #3.
Ormat Technologies Inc.
ORA
is set to release first-quarter 2021 results on May 5. It has an Earnings ESP of +12.66% and a Zacks Rank #3.
TC Energy Corporation
TRP
is set to release first-quarter 2021 results on May 7. It has an Earnings ESP of +2.67% and a Zacks Rank #3.
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