Bloom Energy Corp (NYSE:BE) posted financial results for the first quarter after the market close on Tuesday. Here’s a look at the key details from the quarter.
- Bloom Energy shares are experiencing increased attention. What’s driving BE shares?
Bloom Energy Q1 Highlights
Bloom Energy reported first-quarter revenue of $751.05 million, beating analyst estimates of $551.56 million, according to Benzinga Pro. The company reported first-quarter adjusted earnings of 44 cents per share, beating estimates of 13 cents per share.
Total revenue grew 130.4% on a year-over-year basis. Product revenue accounted for $653.3 million of the company's quarterly revenue, up 208.4% year-over-year.
Bloom Energy ended the quarter with approximately $2.49 billion in total cash and cash equivalents.
“We at Bloom are ushering in the era of digital power for the digital age. Bloom is rapidly becoming the standard and ‘go-to choice’ for on-site power,” said KR Sridhar, founder, chairman and CEO of Bloom Energy.
Bloom Energy raised its full-year 2026 revenue guidance from a range of $3.10 billion to $3.30 billion to a new range of $3.40 billion to $3.80 billion versus estimates of $3.25 billion.
The company also raised its full-year adjusted earnings outlook from a range of $1.33 to $1.48 per share to a new range of $1.85 to $2.25 per share versus estimates of $1.36 per share.
Bloom Energy executives are set to further discuss the quarter on an earnings call at 5 p.m. ET.
BE Shares Climb After The Close
BE Price Action: Bloom Energy shares were up 9.47% in after-hours Tuesday, trading at $247.80 at publication time. The stock is currently trading at all-time highs, according to Benzinga Pro.
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