Bloom Energy Corp (NYSE:BE) released third-quarter financial results after the market closed on Tuesday. Here’s a rundown of the report.
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Q3 Earnings: Bloom Energy reported third-quarter revenue of $519.05 million, beating analyst estimates of $424.98 million, according to Benzinga Pro. The energy company reported third-quarter adjusted earnings of 15 cents per share, beating estimates of 9 cents per share.
Total revenue climbed 57.1% year-over-year. Product and service revenue accounted for $442.9 million of the company’s quarterly revenue, up 55.7% year-over-year.
“Bloom is at the center of a once-in-a-generation opportunity to redefine how power is generated and delivered,” said KR Sridhar, founder, chairman, and CEO of Bloom Energy.
“Powerful tailwinds — surging demand for electricity driven by AI, nation-state priorities, and our relentless pace of innovation — are converging to accelerate our audacious journey to becoming a standard for onsite power globally.”
Bloom Energy ended the quarter with approximately $595 million in total cash and cash equivalents.
The company’s management team will further discuss the quarter on an earnings call at 5 p.m. ET.
BE Price Action: Bloom Energy shares were up 5% in after-hours, trading at $119 at publication time, according to Benzinga Pro.
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