Bloom Energy shares surge on quarterly results, guidance

Bloom Energy Corp. shares surged 15% in premarket trading on Tuesday after the solid-state fuel cell manufacturer reported quarterly results that exceeded analyst expectations and raised its full-year guidance.

The company posted adjusted earnings of 1 cent per share for the second quarter, beating the 1-cent loss expected by analysts polled by Refinitiv. Revenue totaled $292 million, above the $275 million forecast. Bloom also raised its full-year revenue guidance to a range of $1.25 billion to $1.3 billion, up from its prior forecast of $1.15 billion to $1.25 billion.

Chief Executive KR Sridhar attributed the performance to stronger-than-anticipated demand for Bloom’s energy servers, particularly in North America and Asia, as well as improved operational efficiencies. The company also highlighted progress in expanding its manufacturing capacity to meet growing orders.

Analysts at Jefferies noted that the results and guidance reflect a "clear inflection point" for Bloom, driven by accelerating adoption of its fuel cell technology in commercial and industrial applications. The firm maintained a buy rating on the stock, with a price target of $28, up from $22.

Bloom Energy’s shares have gained roughly 40% year-to-date, outperforming the broader energy sector. The company’s market capitalization now stands at approximately $3.2 billion, up from $2.8 billion at the start of the year.

Investors are closely watching Bloom’s ability to scale production and sustain margins amid rising material costs. The company has been expanding its manufacturing footprint in Delaware and California to support higher volumes.