Bloom Energy Lifts 2026 Revenue Outlook To $4.4 Billion-$4.6 Billion, Its Third Raise This Year
The fuel cell maker posted third-quarter operating income of $225.4 million, against $7.8 million a year earlier.
Bloom Energy, which makes fuel cell systems that generate electricity at customers' own sites, reported record third-quarter revenue of $1,235.8 million, up 138.1% from a year earlier, and raised its 2026 forecast. Chief Financial Officer Simon Edwards said it is the third outlook increase this year, according to an 8-K filed Thursday.
Profit swings from a sliver to $225 million
Product revenue reached $1,073.6 million, up 179.4%. Operating income under standard accounting was $225.4 million, against $7.8 million in the third quarter of 2025, and diluted earnings per share were $0.78 against a loss of $0.10.
Gross margin was 33.8%, up 453 basis points (4.53 percentage points). On an adjusted basis, operating income was $285.7 million, up from $46.2 million, and adjusted earnings per share were $0.94 against $0.15.
From the second quarter, revenue rose from $1,065.4 million and standard operating income from $182.2 million.
A higher bar for the full year
Bloom now expects 2026 revenue of $4.4 billion to $4.6 billion, which it puts at 122% growth at the midpoint. Adjusted operating income is guided to $960 million-$1,030 million, adjusted earnings per share to $3.10-$3.40, and adjusted gross margin to about 34%.
Edwards said year-to-date performance and customer demand gave management confidence to raise the outlook. CEO KR Sridhar said the shift from centralized power to distributed onsite generation "began with hyperscalers" and is spreading across market segments.
The company also said it was added to the S&P 500.
Cash lagged the growth
Cash from operations was negative $27.1 million in the quarter, compared with positive $226.4 million in the second quarter. Purchases of property, plant and equipment rose to $153.5 million from $51.6 million.
Current contract assets, a balance-sheet item, were $792.8 million at September 30, against $178.9 million at the end of 2025. Cash and equivalents stood at $2,486.7 million.
Bloom sells Energy Servers that turn natural gas, biogas or hydrogen into electricity without combustion, to customers including data centers and semiconductor makers. Management hosts its call at 5:00 p.m. Eastern Thursday.
The adjusted operating income guide of $960 million-$1,030 million compares with $221.0 million for 2025, according to the company's investor presentation.
Sources
- 8-K Filing — Bloom Energy Corp (BE) — SEC EDGAR
- Exhibit ex991_q326financialresults.htm — Bloom Energy Corp 8-K exhibit — SEC EDGAR
- Exhibit ex992_q32026supplemental.htm — Bloom Energy Corp 8-K exhibit — SEC EDGAR
- Exploring Analyst Estimates for Bloom Energy (BE) Q3 Earnings, Beyond Revenue and EPS — Yahoo Finance
