Why Bloom Energy Shares Are Rising

Bloom Energy Corp BE shares are trading higher by 8% at $16.73 after the company reported better-than-expected fourth-quarter sales results.

Bloom Energy reported quarterly losses of 5 cents per share which missed the analyst consensus estimate of a loss of 4 cents per share. The company reported quarterly sales of $342.50 million which beat the analyst consensus estimate of $307.99 million by 11%.

Commenting on the fourth quarter and full year earnings, KR Sridhar, founder, chairman, and CEO of Bloom Energy said, “This was a record quarter and year for Bloom Energy. With nearly $1 billion in revenue, we are now at an inflection point. In many ways, as the energy industry transforms, we are in a category of our own with growing revenue, margin expansion, strong backlog and the best, most innovative solutions for customers who want low-carbon and resilient power today and a zero-emissions energy tomorrow. We are poised to capitalize on demand for clean energy, decarbonization, and the growth of the hydrogen and renewable fuels economy.”

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Bloom Energy has a 52-week high of $43.92 and a 52-week low of $12.55.