Bloom Energy’s first-quarter exceeds expectations

Projected first-quarter returns were between USD 140 million and USD 160 million. In the end, Bloom Energy took in USD 156.7 million. However, if I interpret the numbers right, another USD 40 million was shifted to the second quarter. From projects that have not been billed yet, I do believe. The company’s bottom line posts a USD 9.8 million loss, according to GAAP, far less than the predicted USD 15 million to USD 25 million.

Cash on hand remained more or less steady at USD 354 million, although this includes restricted cash and power purchase agreements.

One intriguing management statement tells us Bloom Energy [NYSE: BE] is currently prefabricating to reliably deliver an expected peak demand in the second half of 2020. Not one project was cancelled because of Covid-19; not one customer lost. I am looking forward to this quarter’s results – breakeven? – and especially to the second half year, which should ultimately be a good year for the company. The number of shorts went down from over 22 million to 19.3 million, implying short sellers also expect the price to go up and are closing out their positions.

read more in H2-international August 2020

Risk warning
Share trading can result in a total loss of your investment. Consider spreading the risk as a sensible precaution. The fuel cell companies mentioned in this article are small- and mid-cap businesses, which means their stocks may experience high volatility. The information in this article is based on publicly available sources, and the views and opinions expressed herein are those of the author only. They are not to be taken as a suggestion of what stocks to buy or sell and come without any explicit or implicit guarantee or warranty. The author focuses on mid-term and long-term prospects, not short-term gains, and may own shares in the company or the companies being analyzed.

Author: Sven Jösting, written June 13th, 2020

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