Bloom Energy Corporation (NYSE: BE) saw its stock price climb over 30% in after-hours trading today, July 28, 2026, after announcing second-quarter results that significantly surpassed analyst estimates. The company reported adjusted earnings of $0.80 per share, which was double the Zacks Consensus Estimate of $0.39 per share. Revenue for the quarter came in at $805 million, exceeding the preliminary consensus estimate of $766.9 million and representing a substantial 116% increase year-over-year. This strong performance was primarily attributed to the increasing demand for its energy servers to power data centers, particularly given the boom in AI infrastructure.
In addition to the impressive Q2 results, Bloom Energy also raised its full-year 2026 revenue guidance. The company now projects revenue to be between $3.7 billion and $3.9 billion, an increase from its previous forecast of $3.4 billion to $3.8 billion. This revised outlook suggests an even stronger second half of the year, with the midpoint of the new guidance requiring an average quarterly revenue of approximately $1.15 billion for the remaining two quarters, a 42% increase over the Q2 figure. The company's non-GAAP gross margin for Q2 was 32.5%, moving closer to its annual target of around 34%.
The positive earnings report and raised guidance come after a period of significant volatility for Bloom Energy's stock, which had been down 32.2% in the last month despite being up over 80% year-to-date. Investors had expressed concerns about whether the company could translate its high-profile partnerships, such as the expanded $25 billion financing deal with Brookfield Asset Management for AI infrastructure projects, into sustained revenue growth and improved profitability. Today's results appear to address some of those concerns, showcasing strong execution and confirming the company's critical role in providing power solutions for the rapidly expanding AI and data center markets.
Analysts had generally reconfirmed their estimates leading into the earnings call, with an average price target of $286.20 against a pre-earnings share price of $186.30. The company's ability to nearly double its Q2 revenue compared to the same period last year, and its consistent track record of beating revenue estimates, underscore its operational efficiency. The market's immediate reaction suggests renewed investor confidence in Bloom Energy's growth trajectory and its capacity to meet the heightened expectations surrounding its data center-focused strategy.
