- Wednesday, October 16, 2024
Published: Feb. 14, 2024 at 7:59 a.m. ET
Shares of Blink Charging Co. (BLNK) received a significant boost in premarket trading on Wednesday, with a surge of 14.9%. The company, known for its electric vehicle charging equipment, provided an optimistic sales outlook and reassured investors about its target to achieve adjusted profitability.
Blink Charging Co. expects its fourth-quarter revenue to surpass $42 million, which is significantly higher than the current FactSet consensus of $34.1 million. The company attributes this growth to the strong demand for both their equipment and services.
Furthermore, Blink Charging Co. maintains its goal of achieving a positive adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) run rate by December 2024. This commitment reflects the company's determination to maintain its upward trajectory.
It is worth noting that despite recent setbacks, with the stock experiencing a decline of 20.9%, Blink Charging Co. remains confident in its ability to continue thriving in this ever-evolving market.
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