Bloom Energy Q3 Results Top 'Bullish Expectations,' RBC Says

11:35 AM EDT, 10/23/2026 (MT Newswires) -- Bloom Energy (BE) Q3 results were "strong" and came in above "bullish expectations," while a higher 2026 outlook and continued demand support the view that the investment "thesis remains intact," RBC Capital Markets said in a report Friday. Revenue of $1.24 billion topped the firm's $1.09 billion estimate and the $1.07 billion consensus, while adjusted earnings before interest, taxes, depreciation, and amortization of $299.5 million also beat expectations. Adjusted earnings per share of $0.94 surpassed RBC's $0.80 estimate and the $0.66 consensus, according to the report. Bloom Energy raised its 2026 revenue outlook to $4.4 billion to $4.6 billion and adjusted EPS guidance to $3.10 to $3.40, according to the report. RBC said the company's backlog and pipeline growth is "outpacing revenue growth." RBC has an outperform rating on Bloom Energy, with a price target of $335. Price: 193.19, Change: -24.59, Percent Change: -11.29