Bloom Energy (NYSE:BE) surged more than 18% in premarket trading Wednesday after the clean energy company reported third-quarter results that handily beat analyst estimates, fueled by strong demand for its fuel-cell power systems and expanding AI-related partnerships.
Revenue reached $519 million, well above the $428 million consensus, representing a 57.1% year-over-year increase.
The company also posted adjusted earnings per share of $0.15, topping expectations of $0.10.
Adjusted operating income climbed to $46.2 million, compared to $8.1 million in the same period last year, while gross margin rose to 29.2%, an improvement of 5.4 percentage points. On an adjusted basis, gross margin hit 30.4%, reflecting enhanced cost efficiency and operational leverage.
“Bloom is at the center of a once-in-a-generation opportunity to redefine how power is generated and delivered,” said CEO KR Sridhar. “Powerful tailwinds — surging demand for electricity driven by AI, nation-state priorities, and our relentless pace of innovation — are converging to accelerate our audacious journey to becoming a standard for onsite power globally.”
The company pointed to its recently announced $5 billion partnership with Brookfield Asset Management — aimed at advancing artificial intelligence infrastructure — as a major milestone during the quarter.
Bloom also reported its second consecutive quarter of double-digit adjusted profit margins in its services division.
Analysts at Wolfe Research said Bloom had adopted a “bullish tone” regarding rising demand from AI data centers, which are driving a new wave of energy consumption.
“We now assume Bloom Energy moves ahead with capacity expansion, in line with current stock expectations […]. However, Brookfield is a financing vehicle not just new demand and overall disclosure remains limited,” the analysts added.