Fermi Inc. (FRMI) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Nov 17, 2026

TBA (Not Confirmed)

Period Ending

2026 (Q3)

Consensus EPS Forecast

―

Last Year’s EPS

-0.84

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 4 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:May 14, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call emphasized meaningful operational and commercial progress — regulatory permits, substantial on‑site build and long‑lead equipment acquisitions, renewed tenant engagement, and near‑term financing commitments — while flagging material near‑term risks including a large Q1 net loss driven by equity compensation, high Q1 capital spend relative to cash balances, leadership transition and governance changes, and execution timing risks tied to interconnection and equipment availability. Management articulated a focused 90‑day plan (including securing a binding tenant agreement) and presented multiple financing levers, but successful de‑risking is contingent on closing tenant deals and converting financing commitments into drawn, project‑level capital.

Company Guidance

Management’s near‑term guidance centers on a 90‑day plan with five clear deliverables—secure a binding tenant agreement, maintain capital discipline to preserve liquidity, hire a permanent CEO, deliver power at Project Matador, and explore strategic data‑center/power partnerships—and to match capital deployment to tenant commitments and project‑level non‑recourse financing (including DOE programs). Key metrics cited on the call: Q1 net loss $189M (~70% non‑cash), $243M cash on hand, $441M Q1 CapEx and >$1.4B cumulative invested in the site; financing actions include fully repaying the Macquarie loan and replacing ~ $150M of high‑cost debt, $785M of equipment financing (including a $500M MUFG anchor), >$156M Yorkville facility and nearly $1B of total financing commitments. Operational and permitting milestones highlighted include a 6 GW clean‑air permit (plus a filed incremental 5 GW), ~2.2 GW of natural‑gas generation equipment on site or contracted (1.1 GW combined‑cycle due Q3 and additional SGT‑800 deliveries into 2028), 86 MW of power already delivered from XL, 11 miles of perimeter fencing, ~5 miles of gas pipeline, 7 miles of water lines supplying 2.5M gallons/day and a 2M‑gallon storage tank.

Regulatory and Permitting Milestones

Received a 6 GW clean air permit in February (described as the second largest U.S. permit) and filed for an incremental 5 GW gas permit in late March, providing regulatory certainty for large-scale offtake and enabling commercial progress.

Material Site and Equipment Buildout

Cumulative investment in Project Matador exceeded $1.4 billion. Q1 capex was $441 million. Site works include >11 miles of perimeter fencing, ~5 miles of high‑pressure gas pipeline, ~7 miles of water distribution lines delivering 2.5M gallons/day, a 2M gallon water storage tank, and 86 MW of XL power brought to site.

Natural Gas Generation Equipment Position

Control of roughly 2.2 GW of natural gas generation equipment (including 1.1 GW of combined‑cycle units arriving in Q3 and additional SGT‑800 sets secured and scheduled for delivery in 2028), with foundations poured and long‑lead items on site or in transit, supporting a claimed 1.5 GW speed‑to‑power advantage.

Commercial Momentum and Tenant Engagement

Management reports renewed and accelerating tenant conversations since leadership changes, multiple prospective tenants and partners hosted on site, an expanded pipeline over recent weeks, and active evaluation of strategic partnerships with established data center and infrastructure operators to accelerate deployment.

Strengthened Governance and Leadership Actions

Board expanded from 5 to 7 directors; Chairman assumed a more active role; independent CEO search launched; interim CFO (Rob Masson) with 20+ years of public company financial leadership hired to drive financial discipline.

Financing Progress and Capital Structure Actions

Ended Q1 with $243 million cash; fully repaid the Macquarie term loan and replaced ~ $150 million of high‑cost debt with equipment financing. Secured $785 million of new equipment financing (including $500 million from MUFG), >$156 million facility with Yorkville (undrawn), and nearly $1 billion in financing commitments to support project development.

Fermi Inc. (FRMI) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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FRMI Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Play Transcript
Nov 17, 2026	2026 (Q3)	- / -	-0.84	―	―
May 14, 2026	2026 (Q1)	-0.03 / -0.30	0	―
Mar 30, 2026	2025 (Q4)	-0.01 / -0.26	―	―
Nov 10, 2025	2025 (Q3)	-0.02 / -0.84	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

FRMI Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 14, 2026	$6.00	$7.37	+22.83%
Mar 30, 2026	$6.18	$5.36	-13.27%
Nov 10, 2025	$24.35	$25.31	+3.94%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Fermi Inc. (FRMI) report earnings?

Fermi Inc. (FRMI) is schdueled to report earning on Nov 17, 2026, TBA (Not Confirmed).

What is Fermi Inc. (FRMI) earnings time?

Fermi Inc. (FRMI) earnings time is at Nov 17, 2026, TBA (Not Confirmed).

Where can I see when companies are reporting earnings?

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What is FRMI EPS forecast?

Currently, no data Available