BE Stock Alert: Bloom Energy Soars on Q3 Results

  • Bloom Energy (BE) stock is jumping alongside third-quarter results.
  • The company reported record revenue for the quarter.
  • Bloom Energy also reaffirmed its Q4 guidance.
An image of wall-mounted batteries in a garage, solar panels and wind turbines outside; energy storage representing BE stock.

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Bloom Energy (NYSE:BE) stock is shining brightly on Friday after the company released third-quarter earnings.

That’s despite Bloom Energy reporting adjusted earnings per share loss of 20 cents. That figure came in wider than the loss of 9 cents per share that Wall Street had expected. It also matches the EPS loss reported in the prior-year period.

However, the company’s revenue of $292.27 million is a completely different story. This blew past analysts’ revenue estimate of $274.92 million for the period. It’s also a 41% increase compared to the $207.23 million reported in Q3 2021.

Executives Reaffirm BE’s Q4 Outlook

Greg Cameron, Vice President and CFO of Bloom Energy, had the following to say in the earnings report.

“We had a very strong operating quarter, delivering record third quarter revenue and strengthening our liquidity position to fund our growth. We remain confident in our business and are reaffirming our 2022 financial guidance.”

BE stock is seeing strong trading on Friday after posting earnings. As of this writing, more than 3.2 million shares have changed hands. That’s quickly approaching the daily average trading volume of 3.4 million shares.

BE stock is up 5.4% as of Friday morning after seeing greater gains in earlier trading today.

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On the date of publication, William White did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/11/be-stock-alert-bloom-energy-soars-on-q3-results/.

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