Bloom Energy's Next Earnings Report on July 28 Could Send the Stock Soaring. Here's Why.
Key Points
Bloom Energy will report its second-quarter financial results after the market closes on July 28.
The fuel cell maker will likely boost its full-year guidance again.
Its shares have cooled off in recent weeks due to the sell-off in AI-related stocks.
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Bloom Energy (NYSE:BE) expects to release its second-quarter financial results on July 28 after the market closes. That report could be a major catalyst for the hydrogen stock.
Here’s why the advanced fuel cell maker’s next earnings report could send its stock soaring.
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A look back at what happened last quarter
Bloom Energy reported its first-quarter results on April 28. The company delivered exceptional results. Its revenue rocketed 130.4% to $751.1 million, led by a 208.4% surge in product revenue to $653.3 million. That powered a significant increase in its earnings and cash flow. Bloom reported $72.2 million in operating income and $73.6 million in cash flow from operating activities, increases of $91.3 million and $184.3 million, respectively.
Founder and CEO KR Sridhar called out the catalyst driving its robust results in the earnings press release. He stated: “We at Bloom are ushering in the era of digital power for the digital age. Bloom is rapidly becoming the standard and 'go-to choice' for on-site power.”
The company has secured two significant strategic AI power partnerships in the past year. Last July, it collaborated with Oracle to rapidly deliver power to data centers to support AI deployment. That partnership has been so successful that the cloud computing giant recently expanded it to deploy up to 2.8 gigawatts to accelerate its AI infrastructure build-out. Brookfield Asset Management also formed a $5 billion AI infrastructure partnership with Bloom last fall. The global alternative investments manager recently expanded that partnership fivefold to $25 billion.
What to expect in the second quarter
Bloom Energy’s strong first-quarter results and robust outlook led the fuel cell maker to significantly boost its full-year guidance:
| Metric | Initial guidance ranges | Growth at the mid-point | Updated guidance ranges | Growth at the mid-point |
|---|---|---|---|---|
| Revenue | $3.1-$3.3 billion | 60% | $3.4-$3.8 billion | 80% |
| Non-GAAP Operating Income | $425-$475 million | 104% | $600-$750 million | 207% |
| Non-GAAP EPS | $1.33-$1.48 | 85% | $1.85-$2.25 | 170% |
Data source: Bloom Energy.
As that table shows, Bloom now expects to deliver 80% revenue growth this year and a more than 200% increase in profitability. However, it wouldn’t be surprising to see another guidance boost when it reports its second-quarter financial results. One catalyst is the five-fold expansion of its strategic AI partnership with Brookfield. In commenting on the expansion in a press release, Bloom’s Chief Commercial Officer Aman Joshi stated that, “Today’s commitment reflects the momentum we are seeing in the market, as evidenced by recently announced large-scale deals.” More data center developers are turning to on-site power solutions to meet their energy needs amid challenges securing power from the grid. Bloom’s recently updated its annual Data Center Power Report, which confirms this, finding that 61% of developers plan to bring their own power if the grid can’t support their needs. Bloom’s advanced fuel cells are ideally suited to solve this constraint.
Why Bloom Energy’s earnings report could send its stock soaring
Shares of Bloom Energy initially surged more than 20% after it reported its first-quarter financial results in April, and were up as much as 50% by mid-June. However, the stock has cooled off considerably since peaking, and is now down nearly 20% from its trading price right before its first-quarter earnings report. That’s due to the recent sell-off in AI-related stocks amid concerns about capex costs, valuation, and project delays.
While Bloom Energy has gotten caught in the downdraft, its second-quarter results will likely show continued acceleration in its business. That should reinvigorate the stock, which could soar after the earnings report. The sell-off in Bloom’s stock has it trading at a more reasonable valuation of 14x forward sales (down from 26x at the peak). Given this pending catalyst, buying Bloom shares before it reports could be a very timely investment.
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Matt DiLallo has positions in Brookfield Asset Management and has the following options: short August 2026 $150 puts on Bloom Energy. The Motley Fool has positions in and recommends Bloom Energy, Brookfield Asset Management, and Oracle. The Motley Fool has a disclosure policy.
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