$11.61 1.58 (15.75%)
Banger - PLUG FCEL and HYZN are next.
The tide is quickly going out and it's easy to see whose wearing trunks.
Got to sort out the 45V verdicts then projects can get financing orders committed and staff not let go.
Today will be ugly.
Earnings will be uglier.
Bloom Energy Corp. has cut 95 workers across two of its facilities, one each in Sunnyvale and Fremont. The San Jose company planned to let go the affected wor...
Next Wednesday's drop won't be with BE.
Need to read the call transcript. As I mention ed their end year forecast seemed hard to substantiate.
Bloom probably suffering from being boring and not trying to do everything hydrogen. Subtle marketing focus to CHP and that’s it. But still executing their bus8ness with better cost controls.
The market seemed to be expecting better so they fell, May see historic price drops next Wednesday !
Banger - Would you like to revise your analysis?
Banger - Wrong Again! If a risky company has mediocre results the share price falls.
It happens nearly every time, and you have seen it happen many times before.
Were you hoping for a different result this time?
Tell me Dave, do we know of another poorly managed, risky company which will be announcing MIXED results soon?
Banger - Not really. Mixed at best. Not enough to move the needle?
pretty good report - steady as they go, nothing spectacular.
Not sure how they get to o 25% GM for. the year and positive operating margin may be for the last month?
Seems their phasing over the year isn't as skewed to second half as others in the industry reflecting their market now.
Press release: Q2 Non-GAAP EPS of -$0.17 (missed by $0.03)
Revenue of $301.1M (+23.8% Y/Y, missed by $10.26M.
For 2023 Outlook:
Revenue:$1.4 - $1.5 billion; Product & Service Revenue: $1.25 - $1.35 billion;
Non-GAAP Gross Margin: ~25%;
Non-GAAP Operating Margin: Positive.
Wow, new interface....
todays announcement of Bloom selling CHP solutions is interesting - haven't they always been CHP so just not marketed as such? Or have they added a module of some sort to capture the steam stream?
In the article they talk about replacing hydrochloride based chillers in datacenters with their technology - cant see how a CCHP can do any chilling apart from providing the electricity to chill using whatever technology you want.
Bloom Energy Corp NYSE: BE
Industrials : Electrical Equipment | Small Cap GrowthCompany profile
Bloom Energy Corporation is a provider of commercially viable solid oxide fuel- cell based power generation platform that provides power to businesses, essential services, critical infrastructure and communities. The Company's technology primarily produces electricity and hydrogen. The Company's fuel-flexible Bloom Energy Server uses biogas, hydrogen, natural gas, or a blend of fuels, to create sustainable power. In addition, the solid oxide platform powers its fuel cells, which is used for creating hydrogen. The Company's Bloom Electrolyzer is designed to produce hydrogen solutions and is ideal for applications across gas, utilities, nuclear, concentrated solar, ammonia and heavy industries. Its Bloom Electrolyzer is designed to require less energy to break up water molecules and produce hydrogen. The Company has also adapted its energy servers to advance the decarbonization of the marine industry through the design and development of fuel cell-powered ships.
Im out, took the gains. Greedy bastards they are, no need to offer more dilution, they are all making money an alot of money. Goverment needs to step in an stop this shi. Going on
It's too bad that BE also announced a Convertible offering as well.
More, New Debt AND Dilution in one deal.
Bloom Energy Reports Record Revenue in First Quarter 2023 Financial Results
Source: Business Wire
Bloom Energy Corporation (NYSE: BE) reported today its total revenue for the first quarter ended March 31, 2023 grew 37% compared with the first quarter of 2022. The record revenue for the quarter was driven by continued growth in Product and Service revenue and supported an improvement in operating margin of over five percentage points.
First Quarter Highlights
Revenue of $275.2 million in the first quarter of 2023, an increase of 36.9% compared to $201.0 million in the first quarter of 2022. Product and Service revenue of $234.4 million in the first quarter of 2023, an increase of 38.9% compared to $168.8 million in the first quarter of 2022.
Gross margin of 19.7% in the first quarter of 2023, an increase of 5.8 percentage points compared to 13.9% in the first quarter of 2022.
Non-GAAP gross margin of 21.2% in the first quarter of 2023, an increase of 5.4 percentage points compared to 15.8% in the first quarter of 2022.
Operating loss of ($63.7) million in the first quarter of 2023, an improvement of $2.0 million compared to ($65.7) million in the first quarter of 2022.
Non-GAAP operating loss of ($34.1) million in the first quarter of 2023, an improvement of $5.3 million compared to ($39.4) million in the first quarter of 2022.
Commenting on first quarter results, KR Sridhar founder, Chairman and CEO of Bloom Energy said, “Bloom Energy is off to a very strong start in 2023. Our company is operating well and delivering on our goals. We are making great strides in developing products that serve the needs of our customers today, will help them to position well for the future and, importantly, create revenue growth for us.”
Greg Cameron, President and CFO of Bloom Energy, added, “We had record first quarter revenue driven by strong domestic acceptances. Our margins improved as we maintained price while reducing our product costs. We are reaffirming our 2023 framework for revenue and profitability.”
Summary of Key Financial Metrics
Hydrogen Energy $BE and $IDEX oversold
The hydrogen revolution accelerates
17 MAR 2023
Hydrogen has both flexibility and a high specific energy per unit mass – two attributes that make it uniquely capable at removing emissions from the harder-to-decarbonize parts of the global economy.
According to Goldman Sachs Research:
Hydrogen can be used as an energy fuel, energy vector and feedstock.
Hydrogen can be used to store energy over the long term, propel heavy vehicles, and heat furnaces for the manufacture of steel among other heavy industrial uses.
Hydrogen can get us closer to net zero.
“Green” hydrogen, which is produced by using renewable energy sources to electrolyze water and split it into hydrogen and oxygen, is one of the most promising alternatives to “gray” hydrogen, which relies on natural gas supplies – and produces carbon dioxide that then needs to be released or stored. According to a new report from Goldman Sachs Research, government incentives are powering major strides in green hydrogen investments, particularly in the United States.
The size of clean hydrogen projects is measured by the gigawatts (GW) used to power the electrolysis used in production. By this measure, the market is still in its infancy: At the end of 2020, only about 0.3 GW of capacity was installed.
However, based on projects that have been announced, GS Research estimates as much as 137 GW will be installed by the end of 2030, about 1.7 times more than last year’s estimate of 80 GW. Given the long lead times in creating clean hydrogen production facilities, GS expects even more projects will be announced in the next few years. “Many of the projects for the second half of this decade still have not yet been announced, and are therefore not captured here, implying further upside,” writes Goldman Sachs equity research analyst Michele Della Vigna.
The clean hydrogen industry is scaling up not just in the number of projects planned, but also in the average size of them. The research team estimates that the average project will increase more than 600 times from the current dimensions.
The effects of U.S. policy changes
The U.S. has historically lagged the rest of the world in clean hydrogen development, but the incentives in the Inflation Reduction Act have spurred a development boom in the U.S., with planned installed capacity jumping to 12 GW from 2 GW by 2030. The increase will help the U.S. narrow the gap with the rest of the world, but likely not close it since projects in Europe, Australia and other parts of Asia are also accelerating. The report estimates that Europe will drive the growth of installed capacity, adding 50 GW of cumulative capacity by 2030, followed by Australia with 34 GW, Africa with 25 GW, and Latin America with 17 GW.
“We expect this [U.S. growth] trend to continue further with the introduction of IRA being a game-changer for the production of hydrogen and bringing significant benefits for companies with current or planned hydrogen projects in the U.S.,” Della Vigna writes. According to the report, the law offers several key incentives:
Production tax credits. These 10-year credits apply to developers who produce clean hydrogen beginning this year or begin construction of new facilities before January 1, 2033.
Investment tax credits for energy storage. The IRA expands the scope of existing credits for energy storage to include hydrogen.
Clean vehicle credits. The credits extend to vehicles that use hydrogen fuel cells as well as electric batteries, and offer significant credits for commercial vehicles, for which hydrogen is particularly well suited.
Alternative fuel credits. The IRA provides property tax credits for expanding alternative fueling stations, which will encourage more hydrogen transportation infrastructure.
By the team’s estimation, a $3 tax credit for every two kilograms of hydrogen produced would lower the cost of clean hydrogen to that of hydrogen currently produced with fossil fuels. “This effectively fully bridges the cost gap between grey hydrogen and green hydrogen from renewable power,” according to the report.
Bloom has a very simple product strategy.
They make their solid oxide energy server convert Nat gas to electricity as a fuel cell (probably can use hydrogen or bio gas as well), can be scaled up easily looks incredible like an air conditioner condensing unit and sold for back up and micro grid stationary applications. Leads the market in this area. and until recently PLUG didnt sell stationary fuel cells to compete. (GenSure for Southern company is stationery but much smaller power)
They also use the same solid oxide technology in reverse now to make hydrogen - electrolyser. I believe you can even run the same equipment in either direction - generate electricity or generate hydrogen. Solid oxide systems will be more efficient than PEM but take longer to warm up and some other considerations.
Most US sales have been direct
They have a $4bn agreement with SK in Korea, and the recently announced dealin Spain mostly for the electrolyser.
They currently have higher revenues than PLUG (Will push over $1Bn for 2022 and much better margins since they are only in the system business not selling hydrogen and other things.
I havebeen in both for some time but PLUG still my favorite as it is in the whole life cycle with the hydrogen generation business their cash cow form 2025 onwards
How does Bloom,s product compare to PLUG,s
No numbers in the PR but I would expect them to be significant.
The only similar deal is the $4Bn deal with SK in Korea.
Bloom must have confidence in meeting the rapid increase in demand for their electrolyser in Europe.
why on earth would there be any connection between Bloom one of the best run clean energy companies and Sun Hydrogen who has a great name but no product and no sign of any commercial system being presented next year either.
All i can come up with. Engineering for the 240 kW demonstration is currently underway, with construction expected to begin in late 2023 and power-on expected in early 2024.
Wind-powered 250 kW electrolyzer for dynamic hydrogen production: A pilot study
Author links open overlay panelChangZhangJinyiWangZhiboRenZhiyongYuPengjieWang
This looks like it may be a buy if it can hold $21
Bloom must have got a lot of attention yesterday
Great to be opening the new factory as the temperatures spike and everyone is talking about potential grid outages.
completely agree! The future is hydrogen...at least Cummins is betting on that! Big ass 15 liters of motor!
A lot to digest in the Q1 report and a nice PR regarding North Carolina installations. I wonder how they are transporting the methane from pig farms - piping or tankers?
Big reduction in gross profit I assume the call will cover the details as to why, plus compensation packages seemt obe the reason for the earnings miss. But over $200m revenue n Q1 is a great achievement.
A good earnings report from currently the number 1 US fuel cell company
Transcript of the call:
it is puzzling that they are only now increasing capacity to meet their demand which with the SK deal is huge.
predicting a flat first half while they tool the new factory may be a drag on any reaction to solid numbers
SOme interesting comments on the carbon capture possibilities and the reason UK store shelves are empty because there is no CO2! I hadn't realized that.
$BE Hydrogen is heating up ‘Why wait until 2040?’
Yeah. I wonder if its true though.
I am still suspicious and skeptical.
must have said something good on the call though....
Bloom Energy Corpora (BE)
$31.4177 down -0.5523 (-1.73%)
Bloom Energy And SK Ecoplant Expand Partnership To Include Purchase Of 500 MW From Bloom Energy, Representing $4.5B Revenue Commitment As Well As Targeting A $500M Equity Investment