Bloom Energy Corp. (NYSE:BE) stock rose in premarket trading Friday after the company reported better-than-expected third-quarter earnings and raised its full-year guidance.

Bloom Energy Raises 2026 Guidance for Third Time

Bloom Energy raised its full-year outlook for the third time this year, citing strong third-quarter results and greater visibility into fourth-quarter deliveries.

The company increased its adjusted earnings guidance to $3.10-$3.40 per share from $2.55-$2.85. The revised range exceeds analysts' consensus estimate of $2.73.

Bloom also raised its revenue forecast to $4.4 billion-$4.6 billion from $3.9 billion-$4.2 billion, above Wall Street's estimate of $4.097 billion.

However, management cautioned that the timing of a few year-end deliveries could determine where revenue falls within the updated range.

U.S. Army and Google Projects Expand Growth Opportunities

Bloom Energy partner Indelible received conditional long-term lease awards from the U.S. Army to develop and operate power generation systems at military installations using Bloom Energy Servers.

The initiative aims to strengthen energy security through distributed, on-site electricity generation.

Management sees opportunities to expand the model to other critical facilities, including hospitals, airports and water treatment plants.

Meanwhile, American Electric Power Co. Inc. (NASDAQ:AEP) announced a project involving 700 megawatts of Bloom Energy Servers equipped with carbon capture and sequestration technology.

The project will supply Alphabet Inc. (NASDAQ:GOOG) subsidiary Google with near-net-zero electricity.

Management said the project demonstrates the potential to deploy carbon capture technology at scale. Bloom views the broader opportunity as a potential trillion-dollar market.

Texas Expansion and Utility Demand Support Growth

Bloom Energy is expanding into Texas, with its first units scheduled to ship in the fourth quarter.

Management said its systems are becoming competitive even in states with some of the nation's lowest electricity prices.

Utilities are also showing growing interest in Bloom's technology as a source of reliable, distributed baseload power.

Deploying these systems across distribution networks could help utilities meet rising electricity demand while improving grid stability.

Management sees significant growth opportunities in utility-scale projects that supply power directly to the grid.

Internationally, Bloom reported strong interest in its systems and ongoing discussions with potential local partners. The company highlighted opportunities in Asia and Europe alongside continued U.S. expansion.

AI Data Centers Fuel Demand for On-Site Power

Bloom expects on-site electricity generation to play a larger role as artificial intelligence data centers and other energy-intensive facilities demand reliable power.

During Thursday's earnings call, Bloom Energy CEO K.R. Sridhar warned that America's electricity grid is struggling to keep pace with the AI boom.

He said some data centers consume more electricity than small states, while the grid was designed to serve customers spread across large areas.

"It is overwhelmed by the concentrated and huge power needs of data centers," Sridhar said, arguing that on-site power generation is becoming essential to meeting rapidly growing demand.

Management said existing grid infrastructure is struggling to accommodate concentrated electricity demand at the gigawatt scale.

Bloom's distributed power systems aim to address these challenges through faster deployment, improved reliability, greater energy security and lower local emissions.

The company cited a survey of more than 200 critical infrastructure businesses across 15 sectors.

The survey found that 25% of U.S. commercial and industrial facilities expect to rely entirely on on-site power by 2030. That figure rises to 35% by 2035.

Bloom also referenced the International Energy Agency's projection that global electricity demand will increase 40% by 2035.

The company estimates the global electricity market could double from approximately $3 trillion today to $6 trillion over the next decade.

Manufacturing Expansion Prepares Bloom for Higher Demand

Bloom is expanding its manufacturing operations in Fremont, California, to support demand beyond its previously discussed annual production milestone of 5 gigawatts.

However, management did not provide a timeline for additional capacity or confirm whether annual output could exceed 10 gigawatts.

The company plans to increase production capacity gradually as demand develops. The goal is to prevent manufacturing constraints from delaying customer deliveries.

Capital expenditures reached $153 million in the third quarter and $231 million year to date. The year-to-date spending was approximately four times the company's total capital expenditures in 2025.

BE Price Action: Bloom Energy shares were down 1.06% at $215.46 during premarket trading on Friday, according to market data.