Bloom Energy Shares Rise to $238.53 on Eve of Third-Quarter Results
Key Facts
Bloom Energy shares rose to $238.53 at the close of trading on October 21, 2026, according to EL7 data, on the eve of its third-quarter results. The stock had closed at $222.65 on October 20, as the company prepares to report its financial performance after expanding partnerships to power AI infrastructure. The results follow revenue of $1,065.4 million in the second quarter of 2026, according to Bloom's earnings release. Revenue in the same period a year earlier was $401.2 million, putting year-on-year growth at 165.5%. On profitability, the company reported a GAAP gross margin of 33.4% in the second quarter. It also posted GAAP operating income of $182.2 million for the same period.
Behind Bloom's business expansion, the expanded master agreement with Oracle, announced in April 2026, supports the deployment of up to 2.8 gigawatts of fuel cell systems, according to Bloom's statement. The initial contracted capacity at the time of the announcement was 1.2 gigawatts, with deployment beginning across Oracle projects in the United States. Bloom said at the time that deployments had begun and would continue into the year following the announcement. In an October 13 statement, Oracle confirmed that Project Jupiter would continue to rely on Bloom's systems, saying that "the primary power source for Project Jupiter will remain the Bloom Energy fuel cell microgrid." According to Oracle, the proposed energy service agreement with El Paso Electric includes support for the project's final construction stages and initial commissioning. The proposed agreement also includes emergency backup power and provisions for worker safety needs at Jupiter.
In June 2026, Bloom and Brookfield expanded their partnership to finance power projects dedicated to AI infrastructure, increasing the financing framework to $25 billion from $5 billion previously. The companies attributed the expansion in their statement to "strong and sustained demand from hyperscalers and AI infrastructure developers." Brookfield Infrastructure linked its commitment of significant capital to securing appropriate commercial arrangements and meeting risk-adjusted return targets. It said in its earnings statement: "We will only commit significant capital once appropriate commercial arrangements are secured and our risk-adjusted return targets are met." On the execution of other projects, Nebius announced plans to bring 328 megawatts of installed Bloom system capacity into operation during the year the agreement between the companies was announced. Nebius selected fuel cells to replace combustion-based generation technology that had been planned for the partnership's first deployment in the United States.
In a separate development concerning company disclosures, Bloom announced the withdrawal of a blog post published by a vendor without going through its established approval procedures. It said the post attributed statements to the company concerning its second-quarter 2026 earnings call. It clarified that those statements were not made during the call. The company announced the removal of the post containing the false attribution. It also said: "We have terminated our relationship with the vendor."
For the full year, Bloom had set a 2026 revenue target range of $3.9 billion to $4.2 billion when it announced its second-quarter results. Annual guidance included adjusted earnings per share of $2.55 to $2.85, according to the company's statement. It also targeted adjusted operating income of $800 million to $900 million, with both profitability measures calculated on a non-GAAP basis. Bloom is scheduled to report third-quarter results after the market closes on October 22, 2026. The company scheduled its earnings call with investors for the same day at 5 p.m. U.S. Eastern Time.