Fluence Energy beats Q1 revenue estimates, reaffirms 2026 revenue forecast
Overview
Energy storage firm's Q1 revenue rose 154.4% yr/yr, beating analyst expectations
Adjusted EBITDA for Q1 missed analyst expectations
Company's backlog reached a record $5.5 bln, indicating strong demand
Outlook
Fluence Energy reaffirms fiscal year 2026 revenue guidance of $3.2 bln to $3.6 bln
Company expects fiscal year 2026 adjusted EBITDA of $40 mln to $60 mln
Fluence targets $180 mln annual recurring revenue by end of fiscal year 2026
Result Drivers
REVENUE GROWTH - Revenue increased 154.4% yr/yr, driven by global demand for energy storage
RECORD BACKLOG - Order backlog reached $5.5 bln, highest in co's history, reflecting strong demand
PROJECT COSTS - Additional costs on two projects impacted gross margin, expected to be recovered this year
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | Beat | $475.20 mln | $468.48 mln (15 Analysts) |
Q1 Net Income |
| -$62.60 mln |
|
Q1 Adjusted EBITDA | Miss | -$52.10 mln | -$31.65 mln (14 Analysts) |
Q1 Gross Margin |
| 4.90% |
|
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 13 "hold" and 3 "sell" or "strong sell"
The average consensus recommendation for the electrical components & equipment peer group is "buy."
Wall Street's median 12-month price target for Fluence Energy Inc is $18.50, about 42.6% below its February 3 closing price of $32.23
Press Release: ID:nGNX5JykSr
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