Why EOS Energy Soared as Much as 11% Today
Key Points
EOS Energy reported preliminary Q3 2026 financial results.
The company's backlog at the end of September 2026 grew compared to the same period last year.
EOS Energy reports Q3 2026 financial results on Nov.5.
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Starting the week on a bullish note, EOS Energy (NASDAQ:EOSE) stock raced out of the gate at the opening bell. The energy storage company provided preliminary third-quarter 2026 financial results this morning, supercharging the bulls.
As of 1:24 p.m. ET, shares of EOS Energy are down 2.3%, retreating from an earlier 11% rise.
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Management projects year-over-year revenue growth of about 170% in Q3
EOS Energy announced this morning that it anticipates reporting Q3 2026 revenue of $82 million to $83 million, representing a year-over-year top-line increase of 169% to 172%.
Management also expects to report a gross profit margin of negative 55% to negative 53%. Should it achieve the midpoint of this guidance, it will represent an improvement of about 17 percentage points from Q2 2026.
In addition to the growth on the income statement, investors celebrated news of the company's growing backlog. Management reported that September 2026 ended with the company having a backlog of $765 million -- an 18.8% increase over the $644 million in backlog it had at the same time last year.
EOS Energy plans on reporting Q3 2026 financial results before the market opens on Nov. 5.
Should investors power their portfolios with EOS Energy?
While the initial response to EOS Energy's announcement of preliminary Q3 2026 financial results was positive, enthusiasm has since waned. Volatility in growth stocks, such as the kind EOS Energy is demonstrating today, is common, and those with the energy storage stock on their radars should dismiss the noise and focus instead on the company's Q3 2026 earnings report. Should the company report improvements that complement those it anticipates reporting, investors will have good cause to consider clicking the buy button.
Should you buy stock in Eos Energy Enterprises right now?
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Scott Levine has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.
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