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

Before you take the next step you should know about the 2 warning signs for Blink Charging (1 doesn't sit too well with us!) that we have uncovered.

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