Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Bloom Energy (NYSE:BE) and its peers.
Renewable energy companies are buoyed by the secular trend of green energy that is upending traditional power generation. Those who innovate and evolve with this dynamic market can win share while those who continue to rely on legacy technologies can see diminishing demand, which includes headwinds from increasing regulation against “dirty” energy. Additionally, these companies are at the whim of economic cycles, as interest rates can impact the willingness to invest in renewable energy projects.
The 19 renewable energy stocks we track reported a slower Q3. As a group, revenues missed analysts’ consensus estimates by 7% while next quarter’s revenue guidance was 7.2% below.
While some renewable energy stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 1.3% since the latest earnings results.
Bloom Energy (NYSE:BE)
Working in stealth mode for eight years, Bloom Energy (NYSE:BE) designs, manufactures, and markets solid oxide fuel cell systems for on-site power generation.
Bloom Energy reported revenues of $330.4 million, down 17.5% year on year. This print fell short of analysts’ expectations by 13.8%. Overall, it was a mixed quarter for the company with full-year revenue guidance exceeding analysts’ expectations but a significant miss of analysts’ EBITDA estimates.
Bloom Energy achieved the highest full-year guidance raise of the whole group. Unsurprisingly, the stock is up 164% since reporting and currently trades at $28.10.
Is now the time to buy Bloom Energy? Access our full analysis of the earnings results here, it’s free.
Best Q3: American Superconductor (NASDAQ:AMSC)
Founded in 1987, American Superconductor (NASDAQ:AMSC) has shifted from superconductor research to developing power systems, adapting to changing energy grid needs and naval technology requirements.
American Superconductor reported revenues of $54.47 million, up 60.2% year on year, outperforming analysts’ expectations by 6.1%. The business had an exceptional quarter with a solid beat of analysts’ EPS estimates and an impressive beat of analysts’ EBITDA estimates.
The market seems happy with the results as the stock is up 26.3% since reporting. It currently trades at $29.69.
Is now the time to buy American Superconductor? Access our full analysis of the earnings results here, it’s free.
Weakest Q3: Blink Charging (NASDAQ:BLNK)
One of the first EV charging companies to go public, Blink Charging (NASDAQ:BLNK) is a manufacturer, owner, operator, and provider of electric vehicle charging equipment and networked EV charging services.
Blink Charging reported revenues of $25.19 million, down 41.9% year on year, falling short of analysts’ expectations by 28.1%. It was a disappointing quarter as it posted full-year revenue guidance missing analysts’ expectations.
Blink Charging delivered the weakest full-year guidance update in the group. As expected, the stock is down 35.8% since the results and currently trades at $1.29.
Read our full analysis of Blink Charging’s results here.
Array (NASDAQ:ARRY)
Going public in October 2020, Array (NASDAQ:ARRY) is a global manufacturer of ground-mounting tracking systems for utility and distributed generation solar energy projects.
Array reported revenues of $231.4 million, down 34% year on year. This print lagged analysts' expectations by 0.6%. It was a disappointing quarter as it also recorded full-year revenue guidance missing analysts’ expectations.
The stock is up 7.1% since reporting and currently trades at $6.61.
Read our full, actionable report on Array here, it’s free.
Plug Power (NASDAQ:PLUG)
Powering forklifts for Walmart’s distribution centers, Plug Power (NASDAQ:PLUG) provides hydrogen fuel cells used to power electric motors.
Plug Power reported revenues of $173.7 million, down 12.6% year on year. This number came in 17.3% below analysts' expectations. Overall, it was a disappointing quarter as it also logged a miss of analysts’ Power Purchase Agreements revenue estimates and full-year revenue guidance missing analysts’ expectations significantly.
The stock is up 7.8% since reporting and currently trades at $2.14.
Read our full, actionable report on Plug Power here, it’s free.
Market Update
Thanks to the Fed's series of rate hikes in 2022 and 2023, inflation has cooled significantly from its post-pandemic highs, drawing closer to the 2% goal. This disinflation has occurred without severely impacting economic growth, suggesting the success of a soft landing. The stock market thrived in 2024, spurred by recent rate cuts (0.5% in September and 0.25% each in November and December), and a notable surge followed Donald Trump's presidential election win in November, propelling indices to historic highs. Nonetheless, the outlook for 2025 remains clouded by the pace and magnitude of future rate cuts as well as potential changes in trade policy and corporate taxes once the Trump administration takes over. The path forward is marked by uncertainty.
Want to invest in winners with rock-solid fundamentals? Check out our Top 6 Stocks and add them to your watchlist. These companies are poised for growth regardless of the political or macroeconomic climate.
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