CHPT Stock Alert: 13 Takeaways From ChargePoint’s Q3 Earnings
ChargePoint (NYSE:CHPT) stock is on the move Friday as investors react to the electric vehicle (EV) charging company’s earnings report for the third quarter of fiscal 2023.
Let’s go over everything investors in CHPT stock need to know about that earnings report below!
ChargePoint Q3 Highlights
- ChargePoint reported adjusted earnings per share of -25 cents.
- That’s wider than the 19 cents per share loss Wall Street was expecting.
- It’s also wider than the loss of 14 cents per share reported in the third quarter of fiscal 2022.
- That comes alongside a net loss of $84.5 million.
- For comparison, the net loss from the same period of the year prior was $69.4 million.
- Adding to CHPT stock woes is revenue of $125.3 million.
- That falls short of the $131.35 million in revenue analysts were expecting.
- Even so, it was a 93% year-over-year increase from $65 million.
- The latest earnings results also have the company updating its guidance.
- It now expects revenue to range from $160 million to $170 million in Q4 of fiscal 2023.
- Wall Street’s estimate is for revenue of $161.07 million during that period.
- When it comes to the fiscal full year of 2023, ChargePoint is expecting revenue to come in between $475 million to $485 million.
- Analysts’ revenue estimate for the year is sitting at $481.66 million.
CHPT stock is down 4.5% as of Friday morning and is down 41.5% since the start of the year.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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