EarningsQ2 2026 Earnings Report
MX:BE Q2 2026 EPS Results
Actual EPS$13.18
Consensus EPS$6.86
Beat/MissBeat by +$6.32
One Year Ago EPS$1.69
MX:BE Q2 2026 Revenue Results
Actual Revenue$18.00B
Expected Revenue$13.96B
Beat/MissBeat by +$4.04B
YoY Revenue Growth+165.52%
Earnings Announcement Details
QuarterQ2 2026
Date07/28/2026
TimeAfter Close
Conference CallTuesday, July 28, 2026
MX:BE Upcoming Earnings
Bloom Energy's next earnings date is estimated for October 29, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
MX:BE Q2 2026 Earnings Call
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Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and financial momentum: record revenue, substantial margin expansion, improved profitability, robust cash generation and sizeable financing commitments that support accelerated deployments. Management emphasized fast time-to-power, broad market validation (hyperscalers and data-center operators), resilient supply chain design and capacity planning that they expect will avoid becoming a bottleneck. Remaining concerns reflected typical scaling risks and disclosure gaps: quarter-to-quarter revenue lumpiness from large campus deliveries, limited granularity on active hyperscaler deployments versus backlog, project-development headline risks and some proprietary supply details (e.g., scandium) left undisclosed. On balance, the positive operational execution, materially upgraded guidance and strong financing support significantly outweigh the noted uncertainties.Company Guidance
Record Quarterly Revenue and Rapid Growth
Revenue of $1.065 billion, the company's first >$1B quarter, up 166% year-over-year and 42% sequentially; product revenue $935 million, up 215% year-over-year and 43% sequentially (≈90% of total revenue).
Margin Expansion and Strong Profitability
Blended gross margin 34.3%, up ~604 basis points year-over-year; product gross margin 37.2% (up 193 bps sequentially and 291 bps YoY); services margin 22.0% (up ~977 bps YoY). Operating income $240 million (up 737% YoY) with operating margin 22.5% (expansion of ~1,536 bps). Adjusted EBITDA $253 million (~24% of revenue); non-GAAP diluted EPS $0.78 (GAAP $0.62).
Raised Full-Year Guidance
Full-year revenue guidance increased to $3.9 billion–$4.2 billion (midpoint implies ~100% growth vs. 2025), full-year non-GAAP operating income raised to $800M–$900M (implies ~21% operating margin at midpoint), and non-GAAP diluted EPS guidance of $2.55–$2.85. Full-year gross margin guidance maintained at ~34%.
Strong Cash Generation and Liquidity
Cash flow from operations $226 million, an increase of $439.5 million year-over-year; free cash flow $175 million for the quarter; cash balance $2.7 billion. Management indicates strong conversion from operating income to cash flow.
Large-Scale Financing Partners and Capital Shelf
Brookfield expanded its financing framework from $5 billion to $25 billion (fivefold increase). Additional financing partnerships (Industrial Development Funding with Oaktree, MUFG Bank and Morgan Stanley) cumulatively totaling $2.6 billion, establishing substantial project capital availability to convert bookings to revenue.
Accelerating Market Adoption, Backlog Dynamics and Speed to Power
Management reports rapid adoption across major U.S. hyperscalers, neoclouds and data-center operators; backlog growing faster than revenue, driven by customers converting and placing longer-term orders. Demonstrated fast time-to-power (example: Oracle delivered power for a data center within 55 days) and emphasis on delivering power in months rather than years.
Resilient Supply Chain and Capacity Readiness
Company emphasizes multi-sourced, geographically diverse suppliers, inventory ahead of ramp and a capacity-planning algorithm; management states capacity is not a current constraint and that factories are being expanded in 'Copy Exact' increments ahead of orders. On scandium, management states they are not dependent on China and have visibility for ~25 GW of deployments.
MX:BE Earnings History
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