The end of the earnings season is always a good time to take a step back and see who shined (and who didn’t). Let’s take a look at how renewable energy stocks fared in Q2, starting with Array (NASDAQ: ARRY).

Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.

The 15 renewable energy stocks we track reported a satisfactory Q2. As a group, revenues beat analysts’ consensus estimates by 3.1% while next quarter’s revenue guidance was 7.9% below.

Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 11.9% since the latest earnings results.

Array (NASDAQ: ARRY)

Going public in October 2020, Array (NASDAQ: ARRY) is a global manufacturer of ground-mounting tracking systems for utility and distributed generation solar energy projects.

Array reported revenues of $342.1 million, down 5.6% year on year. This print exceeded analysts’ expectations by 9%. Despite the top-line beat, it was still a slower quarter for the company with a significant miss of analysts’ EBITDA estimates and full-year revenue guidance slightly missing analysts’ expectations.

“ARRAY delivered a strong second quarter while achieving a significant company milestone, surpassing 100 gigawatts of cumulative tracker product shipments since our founding. For the third consecutive quarter, we achieved a record orderbook of $2.5 billion, reflecting continued share gains and strong execution. During the quarter, we advanced our innovation strategy with the formal launch of DuraTrack D2S and our next-generation OmniTrack product offerings. We continued to build on that momentum in July with the announcement of our new 60° tracker capabilities and the launch of the ARRAY Atlas™ suite of foundation-to-tracker solutions. Our pending acquisition of Affordable Wire Management (AWM)(2), will further advance our balance of system strategy by adding high-margin cable management and safety products. We remain focused on expanding our ability to provide a more integrated, technically interoperable solution set for utility-scale solar customers,” said Chief Executive Officer, Kevin G. Hostetler.

Array delivered the weakest guidance update among its peers. The market seems disappointed with the results as the stock is down 22.5% since reporting and currently trades at $4.37.

Read our full report on Array here, it’s free.

Best Q2: Bloom Energy (NYSE: BE)

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.

Bloom Energy reported revenues of $1.07 billion, up 166% year on year, outperforming analysts’ expectations by 22.37%. The business had an incredible quarter with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates.

Bloom Energy scored the biggest analyst estimate beat, fastest revenue growth, and highest full-year guidance raise of the whole group. The market seems happy with the results as the stock is up 27.1% since reporting. It currently trades at $212.13.

Is now the time to buy Bloom Energy? Access our full analysis of the earnings results here, it’s free.

Weakest Q2: Fluence Energy (NASDAQ: FLNC)

Pioneering the use of lithium-ion batteries for grid storage, Fluence (NASDAQ: FLNC) helps store renewable energy sources with battery systems.

Fluence Energy reported revenues of $649.8 million, up 7.9% year on year, falling short of analysts’ expectations by 18.8%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations significantly and full-year EBITDA guidance missing analysts’ expectations significantly.

Fluence Energy delivered the weakest performance against analyst estimates and weakest full-year guidance update in the group. As expected, the stock is down 26.6% since the results and currently trades at $10.45.

Read our full analysis of Fluence Energy’s results here.

EnerSys (NYSE: ENS)

Supplying batteries that power equipment as big as mining rigs, EnerSys (NYSE: ENS) manufactures various kinds of batteries for a range of industries.

EnerSys reported revenues of $935.6 million, up 4.8% year on year. This result beat analysts’ expectations by 0.8%. Overall, it was a very strong quarter as it also recorded EPS guidance for next quarter exceeding analysts’ expectations and a beat of analysts’ EPS estimates.

The stock is down 3.3% since reporting and currently trades at $180.47.

Read our full, actionable report on EnerSys here, it’s free.

First Solar (NASDAQ: FSLR)

Headquartered in Arizona, First Solar (NASDAQ: FSLR) specializes in manufacturing solar panels and providing photovoltaic solar energy solutions.

First Solar reported revenues of $1.06 billion, down 3.7% year on year. This print lagged analysts’ expectations by 1%. More broadly, it was a mixed quarter as it also logged a beat of analysts’ EPS estimates but a significant miss of analysts’ EBITDA estimates.

The stock is down 3.1% since reporting and currently trades at $199.58.

Read our full, actionable report on First Solar here, it’s free.

Market Update

Over the past year, investors have been forced to repeatedly answer the same question: what is the market’s biggest risk? The answer has changed several times, and each shift has reshaped market leadership.

Late in 2025 and early 2026, artificial intelligence became the market’s primary uncertainty. Investors questioned whether AI would erode software pricing power and weaken competitive moats as AI made it easier to replicate once-differentiated products.

By the spring, technology took a back seat to geopolitics. The U.S. conflict with Iran briefly became the market’s dominant narrative, raising concerns about oil prices, inflation, and global growth. But as energy markets remained orderly and fears of a prolonged supply disruption faded, investors quickly turned their focus back to fundamentals.

Want to invest in winners with rock-solid fundamentals? Check out our 9 Best Market-Beating Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.