Bloom Energy Raised Its 2026 Forecast for the Third Time. Is the Stock a Buy More Than a Third Below Its Record?

Bloom Energy Raised Its 2026 Forecast for the Third Time. Is the Stock a Buy More Than a Third Below Its Record?

Bloom Energy reported record third-quarter revenue of one point two four billion dollars, a jump of one hundred thirty-eight percent from a year earlier. The fuel cell maker now expects full-year 2026 revenue between four point four billion and four point six billion dollars, up from a July range of three point nine billion to four point two billion. Adjusted earnings per share climbed more than sixfold to ninety-four cents, and the company lifted its full-year profit forecast to between three dollars ten and three dollars forty per share. Despite the strong results, shares fell about nine percent on October twenty-second and dropped further in after-hours trading, leaving the stock roughly thirty-seven percent below its June record close. The main concern was cash flow, as contract assets more than doubled in one quarter to seven hundred ninety-three million dollars, pushing free cash flow to negative one hundred eighty-one million. Management said billing follows contract milestones and can land in a different quarter, while the company finished September with two point five billion dollars in cash.