Bloom Energy Q3 revenue beats estimates on record product sales; raises FY2026 guidance

Overview

• U.S. fuel cell systems provider's Q3 revenue grew 138% yr/yr, beating analyst expectations

• Adjusted EPS for Q3 rose sharply yr/yr

• Company raised full-year 2026 revenue guidance

Outlook

• Bloom Energy raises 2026 revenue guidance to $4.4 bln-$4.6 bln

• Company expects 2026 non-GAAP gross margin of about 34%

• Bloom Energy forecasts 2026 non-GAAP EPS of $3.10-$3.40

Result Drivers

• PRODUCT SALES - Co said surge in product revenue drove overall revenue growth

• CUSTOMER DEMAND - Co said year-to-date performance and customer demand gave it confidence to raise its 2026 outlook

• MARGIN EXPANSION - Co reported higher gross margin, contributing to improved profitability

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 16 "strong buy" or "buy", 14 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the heavy electrical equipment peer group is "buy"

• Wall Street's median 12-month price target for Bloom Energy Corporation is $298.00, about 24.9% above its October 21 closing price of $238.53

• The stock recently traded at 52 times the next 12-month earnings vs. a P/E of 93 three months ago

Reuters Recommended Reads

• Oct 20 - GE Aerospace raises profit outlook as engine repairs defy fuel shock, Boeing costs loom

• Oct 21 - NextEra Energy tops quarterly profit estimates, says Dominion deal on track

• Oct 20 - 3M tops Q3 adjusted EPS estimates, raises guidance

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)