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March 16, 2020, 5:02 p.m. EDT

Bloom Energy stock falls 15% after quarterly results

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By Claudia Assis

BE

Shares of Bloom Energy Corp. /zigman2/quotes/209802424/composite BE +0.41% fell more than 15% in the extended session Monday after the alternative-energy company reported a wider-than-expected GAAP loss in the fourth quarter and sales that missed expectations. Bloom said it lost $67.1 million in the fourth quarter, or 57 cents a share, which includes the impact of adopting a new revenue standard, compared with a loss of $114.2 million, or $1.04 a share, in the year-ago quarter. Sales rose 36% to $213.8 million, the company said. Analysts polled by FactSet had expected a per-share GAAP loss of 25 cents a share on sales of $270 million. Bloom guided for a first-quarter revenue between $140 million and $160 million, and an adjusted loss between $25 million and $15 million. Bloom last month said it had to reinstate some financial information due to accounting errors. On Monday, it said that it had found more adjustments to be done, related to stock-based compensation and other items. "These adjustments are also reflected as adjustments to our consolidated financial statements, and fall within the impact ranges that we provided on February 12," Bloom said. The current GAAP results also reflect the impact of these adjustments, the company said.

/zigman2/quotes/209802424/composite
US : U.S.: NYSE
$ 24.62
+0.10 +0.41%
Volume: 5.60M
Dec. 1, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$4.08 billion
Rev. per Employee
$517,244
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