Electricity generation and hydrogen production company Bloom Energy (NYSE: BE) reported Q2 CY2026 results beating Wall Street’s revenue expectations, with sales up 166% year on year to $1.07 billion. The company’s full-year revenue guidance of $4.05 billion at the midpoint came in 8.2% above analysts’ estimates. Its non-GAAP profit of $0.78 per share was 91.8% above analysts’ consensus estimates.

Is now the time to buy Bloom Energy? Find out by accessing our full research report, it’s free.

KR Sridhar, Founder, Chairman and Chief Executive Officer of Bloom Energy, said, “The demand for Bloom Energy’s solutions keeps accelerating every quarter as customers who traditionally defaulted to combustion technologies are now proactively choosing Bloom as a superior power solution. Today, all the major US hyperscalers and over a dozen US neoclouds, AI labs, and colocation data center operators have validated and approved our power solutions for their AI factories. Bloom is now a standard for AI onsite power.”

Company Overview

Working in stealth mode for eight years, Bloom Energy (NYSE: BE) designs, manufactures, and markets solid oxide fuel cell systems for on-site power generation.

Revenue Growth

Examining a company’s long-term performance can provide clues about its quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Thankfully, Bloom Energy’s 29% annualized revenue growth over the last five years was incredible. Its growth surpassed the average industrials company and shows its offerings resonate with customers, a great starting point for our analysis.

We at StockStory place the most emphasis on long-term growth, but within industrials, a half-decade historical view may miss cycles, industry trends, or a company capitalizing on catalysts such as a new contract win or a successful product line. Bloom Energy’s annualized revenue growth of 53.1% over the last two years is above its five-year trend, suggesting its demand was strong and recently accelerated.

Bloom Energy also breaks out the revenue for its most important segment, Product. Over the last two years, Bloom Energy’s Product revenue (energy servers and electrolyzers) averaged 98.8% year-on-year growth. This segment has outperformed its total sales during the same period, lifting the company’s performance.

This quarter, Bloom Energy reported magnificent year-on-year revenue growth of 166%, and its $1.07 billion of revenue beat Wall Street’s estimates by 27.7%.

Looking ahead, sell-side analysts expect revenue to grow 63.6% over the next 12 months, an improvement versus the last two years. This projection is eye-popping and implies its newer products and services will spur better top-line performance.

ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.

Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.

Operating Margin

Operating margin is one of the best measures of profitability because it tells us how much money a company takes home after procuring and manufacturing its products, marketing and selling those products, and most importantly, keeping them relevant through research and development.

Although Bloom Energy was profitable this quarter from an operational perspective, it’s generally struggled over a longer time period. Its expensive cost structure has contributed to an average operating margin of negative 2.1% over the last five years. Unprofitable industrials companies require extra attention because they could get caught swimming naked when the tide goes out.

On the plus side, Bloom Energy’s operating margin rose by 33.9 percentage points over the last five years, as its sales growth gave it operating leverage. Still, it will take much more for the company to show consistent profitability.

In Q2, Bloom Energy generated an operating margin profit margin of 17.1%, up 18 percentage points year on year. The increase was solid, and because its operating margin rose more than its gross margin, we can infer it was more efficient with expenses such as marketing, R&D, and administrative overhead.

Earnings Per Share

We track the long-term change in earnings per share (EPS) for the same reason as long-term revenue growth. Compared to revenue, however, EPS highlights whether a company’s growth is profitable.

Bloom Energy’s full-year EPS flipped from negative to positive over the last five years. This is a good sign and shows it’s at an inflection point.

Like with revenue, we analyze EPS over a more recent period because it can provide insight into an emerging theme or development for the business.

For Bloom Energy, its two-year annual EPS growth of 1,256% was higher than its five-year trend. We love it when earnings growth accelerates, especially when it accelerates off an already high base.

In Q2, Bloom Energy reported adjusted EPS of $0.78, up from $0.10 in the same quarter last year. This print easily cleared analysts’ estimates, and shareholders should be content with the results. Over the next 12 months, Wall Street expects Bloom Energy’s full-year EPS to grow 69.9% from $1.82 to $3.09.

Key Takeaways from Bloom Energy’s Q2 Results

It was good to see Bloom Energy beat analysts’ EPS expectations this quarter. We were also excited its EBITDA outperformed Wall Street’s estimates by a wide margin. Zooming out, we think this was a good print with some key areas of upside. The stock traded up 9.5% to $184.63 immediately after reporting.

Indeed, Bloom Energy had a rock-solid quarterly earnings result, but is this stock a good investment here? When making that decision, it’s important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here (it’s free).