Blink Charging Q2 Earnings: Revenue Miss, EPS Miss, Lowered Guidance Following 'Short-Term Softening Of EV Demand' (CORRECTED)
Portfolio Pulse from Adam Eckert
Blink Charging Co (NASDAQ:BLNK) reported disappointing Q2 earnings with revenue and EPS missing analyst estimates. The company also lowered its full-year 2024 revenue guidance due to a short-term softening of EV demand. Despite these setbacks, Blink continues to expand its charging infrastructure.
August 07, 2024 | 8:20 pm
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Blink Charging Co reported Q2 revenue of $33.26 million, missing analyst estimates of $39.06 million, and an adjusted loss of $2 per share, missing estimates for a loss of 15 cents per share. The company lowered its full-year 2024 revenue guidance and updated its timeline to achieve Adjusted EBITDA during 2025.
The significant miss on both revenue and EPS, along with the lowered full-year guidance, indicates a challenging short-term outlook for Blink Charging. The immediate 10.17% drop in share price reflects investor concerns.
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