Electricity generation and hydrogen production company Bloom Energy (NYSE: BE) will be reporting results this Tuesday after market hours. Here’s what to expect.
Bloom Energy beat analysts’ revenue expectations last quarter, reporting revenues of $751.1 million, up 130% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.
Is Bloom Energy a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Bloom Energy’s revenue to grow 108% year on year, improving from the 19.5% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Bloom Energy rarely misses Wall Street’s revenue estimates.
Looking at Bloom Energy’s peers in the electrical equipment segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Allegion delivered year-on-year revenue growth of 12.7%, beating analysts’ expectations by 3.1%, and Teledyne reported revenues up 9.8%, topping estimates by 5.3%. Allegion traded up 9.6% following the results while Teledyne’s stock price was unchanged.
Read our full analysis of Allegion’s results here and Teledyne’s results here.
Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). While some of the electrical equipment stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.5% on average over the last month. Bloom Energy is down 32.2% during the same time and is heading into earnings with an average analyst price target of $286.20 (compared to the current share price of $186.30).
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