Bloom Energy Quarterly Revenue Jumps 138.1%, Company Raises Full-Year Outlook
Key Facts
Bloom Energy reported third-quarter 2026 revenue of $1,235.8 million, up 138.1% from the same period a year earlier, and raised its full-year revenue and earnings forecasts. According to its earnings disclosure, the company posted net income attributable to common stockholders of $250,271 thousand for the quarter alongside the surge in sales. Adjusted diluted earnings per share, calculated by the company on a basis that does not conform to U.S. generally accepted accounting principles, came to $0.94. Consolidated gross margin under those principles was 33.8% in the third quarter. That compares with a consolidated gross margin of 33.4% reported in the company's second-quarter results for the same year. The year-on-year revenue increase was thus accompanied by an improvement in gross margin from the previous quarter.
On liquidity, operating activities recorded a cash outflow of $27,147 thousand in the third quarter, according to the cash flow statement in Bloom's disclosure. That followed a cash inflow from the same activities of $226.4 million in the second quarter of 2026. The company thus shifted from generating cash from operations in the previous quarter to using cash in the third quarter, when it reported a profit attributable to common stockholders. Cash spending on purchases of property, plant and equipment totaled $153,487 thousand in the third quarter, in addition to the funds used in operating activities. In the market, Bloom Energy shares closed at $217.77 in the session on October 22, 2026, according to EL7 data.
Bloom produces solid oxide fuel cell systems to supply electricity at customer sites, with users including data centers and semiconductor factories, according to the company's description of its business. The company describes the systems as providing "highly resilient and highly scalable on-site electricity." Against the backdrop of its business tied to artificial intelligence infrastructure, Bloom and Brookfield announced in June 2026 an expansion of their energy project financing framework. The announced size of the framework rose from $5 billion to $25 billion, according to the companies' joint statement. The collaboration concerns financing energy projects dedicated to artificial intelligence infrastructure. The companies attributed the expanded partnership to "strong and sustained demand from hyperscalers and artificial intelligence infrastructure developers," linking the increase in the financing framework to demand for those projects.
For the remainder of 2026, Bloom's chief financial officer said performance and demand had enabled the company to raise its outlook "for the third time this year." The company now expects annual revenue of between $4.4 billion and $4.6 billion, according to the new range in its third-quarter earnings announcement. Its previous forecast, announced with its second-quarter results, was between $3.9 billion and $4.2 billion for the same year. The revision puts both the lower and upper ends of annual revenue above their levels in the previous forecast. Bloom also raised its target range for 2026 adjusted earnings per share to between $3.10 and $3.40, compared with a previous range of $2.55 to $2.85 when it announced second-quarter results. The update also includes a forecast for full-year adjusted operating income of between $960 million and $1,030 million, according to the company's statement. The earnings per share and operating income forecasts are based on adjusted measures that do not conform to U.S. generally accepted accounting principles.