Chargepoint stock charges higher after sales beat, increased forecast

Dow Jones2021-09-02
Car-charging company tops $56 million in quarterly revenue, beating estimates, and full-year guidance jumps to at least $225 million.

Chargepoint Holdings Inc. disclosed Wednesday that its car-charging stations had produced better sales than expected in the second quarter, and executives increased their sales target for the year, sending shares more than 11% higher in after-hours trading.

Chargepoint $(CHPT)$ reported a second-quarter loss of $84.9 million, or 29 cents a share, after reporting a loss of $35.3 million a year ago. Sales increased to $56.1 million from $35 million a year prior, with more than $40 million credited to its networked charging systems.

Analysts on average expected a loss of 13 cents a share on sales of $49.1 million, according to FactSet. After closing with 0.4% gain at $21.23, shares jumped to more than $23.50 in the extended session following Wednesday's report.

With the sales beat, executives increased their annual guidance to sales of $225 million to $235 million, after previously stating a target of $195 million to $205 million. For the third quarter, the forecast calls for revenue of $60 million to $65 million. Analysts on average were expecting third-quarter sales of $54.7 million and annual revenue of $207.5 million, according to FactSet.

Chargepoint went public last year through a special-purpose acquisition company, or SPAC, and shares have more than doubled since the transaction became official, rising 108.1% as the S&P 500 index has gained 30.2%. The company sported a market capitalization of $6.8 billion as of the end of Wednesday's session, according to FactSet.

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精彩评论

  • GuSen
    2021-09-02
    GuSen
    Welcome to the EV revolution!
  • JoelLee
    2021-09-02
    JoelLee
    Reply and comment pls thx!
  • sugizoi4u
    2021-09-02
    sugizoi4u
    Invest in Chargepoint for exposure to the infrastructure side of the EV revolution.
    • sunshine138
      Maybe
      Battery better?
    • sugizoi4u
      Battery supplier, raw materials for battery, ev maker….they are all parts of the EV revolution
    • GuSen
      Depend….Apple or its parts supplier doing better? Can get squeezed by main contractor sometimes.
  • T2021B
    2021-09-02
    T2021B
    Keep this stock for next 10years
  • 財神發
    2021-09-02
    財神發
    Good 
  • Ahdesfrmsg
    2021-09-02
    Ahdesfrmsg
    Ok
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