Bloom Energy Corporation (BE - Free Report) reported first-quarter 2020 loss of 34 cents per share, narrower than the Zacks Consensus Estimate of a loss of 42 cents.
The company's total revenues in first-quarter 2020 were $157 million, beating the Zacks Consensus Estimate of $150 million by 4.8%. Total revenues, however, declined 21.9% year over year.
Highlights of the Release
During the reported quarter, the business was strong despite COVID-19 impacts, with first-quarter acceptance improving 8.9% year over year to 256. The improvement was due to orders from the existing customers and the usage of Bloom Energy Server in other industries as well.
Total operating expenses in the first quarter amounted to $66.3 million, decreasing 24.9% from the year-ago period.
Interest expenses in the quarter were $20.7 million, down 5.1% year over year.
Clearway Energy had cash and cash equivalents of $180.3 million as of Mar 31, 2020, down from $202.8 million on Dec 31, 2019.
Total liabilities as of Mar 31, 2020 were $1,571.8 million, reflecting a 5.5% increase from $1,490.4 million on Dec 31, 2019.
The company's net cash used in operating activities during first-quarter 2020 was $27.9 million compared with $9.8 million in the comparable prior-year period.
Bloom Energy currently carries a Zacks Rank #3 (Hold).
You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Covanta Holding Corp. (CVA - Free Report) incurred a loss of 24 cents per share in first-quarter 2020, wider than the Zacks Consensus Estimate of a loss of 22 cents.
Evergy, Inc. (EVRG - Free Report) reported first-quarter 2020 operating earnings of 41 cents per share, beating the Zacks Consensus Estimate by a penny.
Clearway Energy Inc. (CWEN - Free Report) reported first-quarter 2020 loss of 24 cents per share, wider than the Zacks Consensus Estimate of a loss of 4 cents.
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