Bloom Energy (BE) came out with a quarterly loss of $0.01 per share versus the Zacks Consensus Estimate of $0.09. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -111.11%. A quarter ago, it was expected that this developer of fuel cell systems would post a loss of $0.06 per share when it actually produced a loss of $0.06, delivering no surprise.Over the last four quarters, the company has not ...

Revenue Performance - Total revenue for the three months ended September 30, 2024, was $330.4 million, a decrease of 17.4% compared to $400.3 million in the same period of 2023[9]. - Product revenue for the three months ended September 30, 2024, was $233.8 million, down 23.3% from $305.0 million in the same period of 2023[9]. - Total revenue from contracts with customers for the three months ended September 30, 2024, was $321.8 million, a decrease of 16% compared to $383.4 million in 2023[47]. - Total revenue from contracts with customers decreased to $874,435,000 in Q3 2024 from $927,501,000 for the same period in 2023, a decrease of about 5.7%[47]. - The company reported a total of $901,463,000 in revenue for the nine months ended September 30, 2024, compared to $976,554,000 in the same period of 2023, a decline of approximately 7.7%[47]. Financial Losses and Improvements - Net loss attributable to common stockholders for the three months ended September 30, 2024, was $14.7 million, compared to a net loss of $169.0 million in the same period of 2023[9]. - The company reported a loss from operations of $9.7 million for the three months ended September 30, 2024, significantly improved from a loss of $103.7 million in the same period of 2023[9]. - Comprehensive loss attributable to common stockholders for the three months ended September 30, 2024, was $14.2 million, compared to $169.3 million in the same period of 2023[10]. - The net loss for the nine months ended September 30, 2024, was $132.36 million, a significant improvement from a net loss of $312.05 million in the same period of 2023, representing a reduction of approximately 57.6%[18]. Expenses and Cost Management - Research and development expenses for the three months ended September 30, 2024, were $36.3 million, slightly up from $35.1 million in the same period of 2023[9]. - Total operating expenses for the three months ended September 30, 2024, were $88.4 million, down from $98.5 million in the same period of 2023[9]. - The company reported stock-based compensation expense of $55,016 for the nine months ended September 30, 2024, down from $77,160 in 2023, a reduction of approximately 28.7%[18]. Equity and Stockholder Information - Total stockholders' equity as of September 30, 2024, was $455.0 million, down from $520.7 million as of December 31, 2023[6]. - The total stockholders' equity as of September 30, 2024, was $454.99 million, an increase from $446.55 million as of June 30, 2024[12]. - The total equity attributable to common stockholders increased from $430,944,000 at June 30, 2024, to $454,992,000 at September 30, 2024, reflecting a growth of approximately 5.6%[12]. Cash Flow and Liquidity - Cash used in operating activities decreased to $392.23 million for the nine months ended September 30, 2024, compared to $494.36 million in 2023, reflecting a 20.6% improvement[18]. - The company reported a cash balance of $549.15 million at the end of the period, down from $637.70 million at the end of September 2023[18]. - The company anticipates that existing cash and expected operating cash flows will be sufficient to meet operational and capital cash flow requirements for the next 12 months[27]. Debt and Financing Activities - The company issued $402.5 million in 3% Green Convertible Senior Notes due June 2029, with net proceeds of $389.7 million after costs[25]. - As of September 30, 2024, total debt amounted to $1,154,563,000, with recourse debt at $1,150,000,000 and non-recourse debt at $4,563,000[71]. - The repayment schedule indicates a total outstanding loan principal of $1,154.563 million, with $632.5 million due in 2028 and $402.5 million thereafter[96]. Inventory and Asset Management - Inventory increased to $584,484,000 as of September 30, 2024, up from $502,515,000 as of December 31, 2023, with raw materials rising to $339,023,000[60]. - The company’s property, plant, and equipment net value was $484,505,000 as of September 30, 2024, compared to $493,352,000 as of December 31, 2023[63]. - Accounts receivable increased by $250.1 million for the nine months ended September 30, 2024, driven by transaction timing and changes in customer mix[40]. Tax and Regulatory Matters - For the three months ended September 30, 2024, the company recorded a pre-tax loss of $14.5 million, with an income tax provision of $0.1 million, resulting in an effective tax rate of (0.8)%[149]. - The effective tax rate for the three and nine months ended September 30, 2024, is lower than the statutory federal tax rate primarily due to a full valuation allowance against U.S. deferred tax assets[150]. Joint Ventures and Partnerships - The company entered into an amended joint venture agreement with SK ecoplant in September 2023, allowing SK ecoplant to increase its voting rights in the Korean joint venture to 60%[153]. - The total assets of the Korean joint venture reached $42.7 million as of September 30, 2024, up from $36.1 million as of December 31, 2023[156].

Bloomenergy Bloom Energy Reports Third Quarter 2024 Financial Results Reiterating 2024 Financial Guidance Announcing World's Largest Fuel Cell Installation SAN JOSE, Calif., November 7, 2024 — Bloom Energy Corporation (NYSE: BE) reported today its financial results for the third quarter ended September 30, 2024. The company reported revenue of $330.4 million for the third quarter of 2024. Third Quarter Highlights • Revenue of $330.4 million in the third quarter of 2024, a decrease of 17.5% year-over-year. • ...

Industrial Sector Performance - Industrials stocks have surged over the past year, driven by government spending initiatives such as the Inflation Reduction Act and the CHIPS and Science Act, with the Industrial Select Sector SPDR Fund (XLI) up more than 36% [1] Clean Hydrogen Companies' Struggles - Clean hydrogen companies, focused on sustainable energy using hydrogen, have underperformed compared to the broader industrials sector, with many stocks declining over the past year [2] - McKinsey reduced its U.S. green hydrogen forecast for 2030 by 70%, citing the hydrogen market as broadly uninvestable and national production targets as unattainable [2] Plug Power Inc (PLUG) - Plug Power, a hydrogen fuel cell leader, has seen its stock price drop by almost 63% in the last year, forcing the company to halt a $290-million New York project due to a cash crunch [4] - Despite the decline, analysts remain optimistic, with a consensus price target of $5.01, representing a 135% upside from current levels, though still far below its all-time high of nearly $70 [5] FuelCell Energy Inc (FCEL) - FuelCell Energy, another clean hydrogen firm, has seen its stock price plummet by more than 68% in the last year, trading at just 34 cents per share, as the company struggles to turn a profit or scale production [6] - The company recently signed a memorandum of understanding with Korea Hydro & Nuclear Power Co, potentially leveraging Korea Hydro's power plant infrastructure to pivot toward sustainable energy operations in Asia [7] - Analysts assign a consensus price target of 88 cents per share, a 150% upside, but maintain a Hold rating [8] Bloom Energy Corp (BE) - Bloom Energy, which uses solid oxide fuel cell technology, reported $336 million in revenue for the second quarter, an 11% increase year-over-year, while also improving gross margins [9] - The company has secured new contracts with data center users like CoreWeave, positioning itself favorably in the AI and cloud spaces, with analysts seeing 58% upside potential and nine out of 19 analysts rating it a Buy [9] - Bloom Energy's stock has declined by only 8% in the last year, outperforming other clean hydrogen companies [9] Future Outlook for Clean Hydrogen - As businesses increasingly rely on clean energy, hydrogen firms could benefit from a large-scale shift, though many may struggle without a clear path to growing revenue, margins, and profitability [10] - Bloom Energy stands out among clean hydrogen companies due to its strong positioning in the fast-growing AI and cloud sectors [10]

The market expects Bloom Energy (BE) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended September 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released ...

The most recent trading session ended with Bloom Energy (BE) standing at $10.14, reflecting a -0.1% shift from the previouse trading day's closing. This change lagged the S&P 500's 0.16% gain on the day. At the same time, the Dow lost 0.37%, and the tech-heavy Nasdaq gained 0.78%. The developer of fuel cell systems's shares have seen a decrease of 3.88% over the last month, surpassing the Oils-Energy sector's loss of 9.36% and falling behind the S&P 500's gain of 1.67%. The investment community will be payi ...

The most recent trading session ended with Bloom Energy (BE) standing at $9.73, reflecting a -1.42% shift from the previouse trading day's closing. This change lagged the S&P 500's daily loss of 0.05%. Meanwhile, the Dow lost 0.02%, and the Nasdaq, a tech-heavy index, added 0.18%.The the stock of developer of fuel cell systems has fallen by 9.12% in the past month, leading the Oils-Energy sector's loss of 9.67% and undershooting the S&P 500's gain of 2.76%.Investors will be eagerly watching for the performa ...

Bloom Energy (BE) closed the most recent trading day at $10.25, moving -1.06% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.97% for the day. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 1.45%. The the stock of developer of fuel cell systems has risen by 6.26% in the past month, leading the Oils-Energy sector's loss of 1.76% and the S&P 500's gain of 5.41%. Market participants will be closely follow ...

Bloom Energy (BE) closed at $10.56 in the latest trading session, marking a -1.31% move from the prior day. This change lagged the S&P 500's daily gain of 0.42%. Elsewhere, the Dow gained 0.04%, while the techheavy Nasdaq added 0.38%. Coming into today, shares of the developer of fuel cell systems had lost 10.16% in the past month. In that same time, the Oils-Energy sector lost 2.47%, while the S&P 500 gained 2.06%. Market participants will be closely following the financial results of Bloom Energy in its u ...

This green-energy company could multiply the greenbacks for investors. The stock of hydrogen power specialist Bloom Energy (BE -2.95%) has nearly 40% upside potential. Well, it does if you accept the latest evaluation of the company from one of the more bullish analysts tracking its fortunes. On the basis of information he received about Bloom Energy's looming future, he reiterated his quite positive take on its prospects. Still a buy, by the by In a new research note, RBC Capital Markets analyst Chris Dend ...