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Image source: The Motley Fool. Friday, Aug. 7, 2026 at 8:30 a.m. ET Chief Executive Officer - Joseph Mastrangelo Chief Operating Officer - John Mahaz Chief Financial Officer - Alessandro Lagi Head of Investor Relations - Elizabeth Higley Operator: Good morning, and welcome to Eos Energy Enterprises Second Quarter 2026 Conference Call. As a reminder, today's call is being recorded, and your participation implies consent to such recording. [Operator Instructions] With that, I would like to turn the call over to Liz Higley, Head of Investor Relations. Thank you. You may begin. Elizabeth Higley: Good morning, and welcome to Eos's Second Quarter 2026 Conference Call. Today, I'm joined by Eos's CEO, Joe Mastrangelo; COO, John Mahaz and CFO, Alessandro Lagi. Today's call may include forward-looking statements, including our expectations regarding future results and the outlook for our company. These statements are based on our current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. For more information on these risks and uncertainties, please refer to our SEC filings. These forward-looking statements speak only as of today, and we undertake no obligation to update them, except as required by law. Today's remarks will also include references to non-GAAP financial measures. A reconciliation of these measures to the most directly comparable U.S. GAAP measure is included in our earnings release. Non-GAAP measures should be considered supplemental to and not a substitute for financial information prepared in accordance with GAAP. In addition, these measures may not be comparable to similarly titled measures used by other companies. This conference call will be available for replay via webcast through Eos Investor Relations website at investors.eose.com. Joe, John and Alessandro will walk you through our business outlook and financial results before we proceed to Q&A. With that, I'll now turn the call over to Eos's CEO, Joe Mastrangelo. Joseph Mastrangelo: Thanks, Liz. Good morning. Thanks, everyone, for joining us. This quarter comes down to three simple things. We ship more product than we have in any prior quarter. We grew our backlog and we committed to consolidating our manufacturing footprint, a strategic decision that trades near-term revenue to lower our cost base as we exit 2026. Now let me walk you through all three of these. We're tightening our 2026 revenue outlook range to $300 million to $350 million. And this is a business decision, not an operating surprise. Let me address this change directly. We are accelerating the consolidation of operations into our modern Thorn Hill facility because what it has begun to deliver. Line 1 will be down during the move and upgrade it to the operational improvements we've implemented on Line 2. The volume that would have produced is the difference in the upper end of our guidance range. We're doing this so that 2027 is not only a volume growth year, but also a margin expansion year. John and Alessandro will take you through the operational and financial expression decision in a few moments. The low end of this range is roughly 2.5x our 2025 revenue and more than 19x in 2024. We delivered just under $126 million in the first half, which already exceeds all of last year's revenue. Let's frame the range itself. While we are still finalizing the detailed schedule, the shape is very clear. The second half exceeds the first half, the fourth quarter is higher than the third. The bottom of the range takes roughly $50 million of second half growth over the first half. That is just maintaining the run rate that we exited June with on, revenue already secured through backlog in Frontier Power USA. The top end of the range is achievable and it comes down to how quickly we scale Thorn hill operations in a 24/7 production facility like we have today in Turtle Creek. We're planning for that, and we'll report against it every quarter. Moving to Slide 5, our second quarter operating highlights. We achieved record backlog, record revenue, record cube shipments and a significant improvement in adjusted EBITDA margin. We're starting to see the operating leverage we've been talking about. As volume increases, fixed costs are spread across more cubes and that's which drives margin improvement and closes the profitability gap. John and Alessandro will take you through the details behind those numbers and our path forward. But before they do, I'd like to spend a moment on fleet performance and cash. First, discharge energy. The number we're looking at, at the page is up nearly 0.5 gigawatt hour since our last call. The fleet now cumulatively has discharged 6.5 gigawatt hours of energy and the Z3 fleet continues to perform, operating at an average round trip efficiency of 78%. Let me be precise about that number because precision is what matters here. 78% is the average across a 20-100-20 state-of-charge window. It includes units running on DawnOS and the units have not yet been upgraded to DawnOS. So the performance of what we've developed, but we're continuing to count that performance of where we still have to improve to show the true number of what customers are experiencing out in the field. It's a fleet average under real duty cycles, not a laboratory result on a single unit. We're starting to scale here. We have more work to do but there is a clear path to continue to improve performance. Turning to cash. We ended the quarter with $364 million in total cash. What's important is what sits behind that number. Our operational cash use this quarter closely matched our adjusted EBITDA loss. Cash on cash, there was very little gap between the P&L and cash flow. That burn rate needs to continue to come down and term positive. And the initiatives that John and Alessandro will walk you through are designed to drive that improvement. Now let's move on to Slide 6. Let's focus on what wins our next order, reference hours. This page shows the hours the fleet has already delivered and the continued growth ahead with more than 200 additional megawatt hours expected to come online over the next 6 months based on current customer project schedules. Let's start on the top left of the page. The fleet has now run over 3.9 million cycles and discharge 6.5 gigawatt hours I talked about earlier. On Z3 specifically, over 1.1 million cycles. We're moving towards 1 gigawatt hour of discharge energy. Every hour of cycling makes the next project easier to finance because customers can now evaluate a track record, not a promise. Round trip efficiency tells a more interesting story. Note how the performance range is narrowing. The bottom is rising towards the fleet average. That is variation coming out of the system and reducing variation is what makes performance bankable. At the same time, the top of the range has crossed above 90%. In manufacturing terms, that is entitlement. It is what this technology delivers when everything runs designed. It is not a ceiling we hope to reach. It is a level the fleet has already demonstrated, and now our work is to deliver it consistently across every cycle, every cube in the field runs. The duration tile shows the range our systems are operating in the field. From 2.5 hours to 14, 1 product, 1 SKU dispatch, however the market needs it. The photo on the right is a project that was added into our backlog in November of 2024. I want to use it to show you how a pipeline opportunity becomes an asset operating in the field. The units are built and shipped by November 2025. They went on foundations in May of June of this year, and the project is expected to come online by year-end. Ordered operations roughly 2 years and noticed where the time went. The product was ready in 12 months. The second year was everything else from site readiness to third-party equipment delivery outside of our scope and the site construction schedule. That is one of the industry's key bottlenecks and it's exactly why Frontier Power USA was built to simplify the process and streamline the customer experience. The next page highlights how that strategy is translating into results. On Page 7, the U.S. storage market is changing in ways that favors our technology, load growth from data centers and electrification is pulling capacities forward faster than new generation can interconnect. In PJM, the grid operator for 65 million people and the largest power market in the country, prices have hit the ceiling in 3 consecutive capacity auctions. And the way the market now counts a resource towards capacity, favors those that hold output to the system, full system need rather than the first 2 hours of it. Virginia has written the same logic into law this spring. The statute carves out 4.5 gigawatts for resources that run 10 hours or more, inside its total state storage target above 20 gigawatts. At the minimum duration, that carve-out alone is 45 gigawatt hours of energy. Buyers are no longer procuring just a storage system, they're procuring hours. Inside of this, we see 4 customer types. Energy providers and regulated utilities who generate revenue from assets. energy consumers and assurance buyers who carry them as a cost of operations. The largest energy providers are independent power producers who need to deliver multi-hour and multicycles day after day because those capacity payments reward duration and energy margin rewards throughput. Utilities need assets that regulators will allow them to earn a return on over a 20-year life. Think about that for a moment. An energy provider an IPP uses that discharge window I talked about earlier. And when we've always talked about the degradation of our product over time and having a 25-year life, helps you utility with its regulator and its rate base. And if you move over to the largest energy consumer, that's high-speed computing, where power is just the cost of goods sold. Think of a data center as a factory and think of energy storage or energy coming in as an input for them to produce. So storage is judged on delivered costs, how fast the site can energize and how reliably it will operate. The Assurance segment is made up of defense or critical infrastructure customers, where storage is priced against the cost of failure and the rapidness of being able to perform. Two book it as revenue, one book that is cost of goods sold and one book it as insurance, all 4 by hours and all 4 screen for supply chain origin. We manufacture in Pennsylvania with the domestic supply chain. That is a commercial advantage today, not a future one that we're planning on. The pipeline on this slide is built from all 4 of these customer types and the composition is where we are focused. I talked about backlog earlier. But what's important to note is that 6 customers placed orders this quarter, 4 new and 2 repeat. Our pipeline of $24.6 billion, nearly 112 gigawatt hours is up 31% year-over-year. 51% of the pipeline is 8 hours longer. That is the duration band where our economics separate from incumbent technologies. 32% is data center related, which 2 years ago was a de minimis amount. Three commercial developments framed the second half. After the quarter closed, we were awarded a strategic partnership agreement under Golden Dome for America -- for the Golden Dome America program with the U.S. Department Award. During the quarter, we signed a 750-megawatt hour master supply agreement with CAPAC covering Germany, Austria and Switzerland. And Frontier Power USA holds a 2-gigawatt hour capacity reservation agreement. Under that agreement, we are now seeing purchase orders convert into projects, beginning with the Bimergen project and most recently with the $100 million purchase order we announced this morning for Phase 1 of the Blanquilla project in ERCOT originally developed by Stella Energy. I'll highlight the obvious with nearly $25 billion of pipeline against an $807 million backlog. Our job is conversion, not origination. Capital availability is one of the critical opportunity conversion factors. Two slides ago, I mentioned we built something to improve it, and that now brings me to Frontier Power on the next slide. Frontier Power USA, it's working as we intended. We have started execution on our first project because our priority is to get more projects into the field, begin generating returns and begin the operating references that help turn the investment flywheel up Frontier Power and deliver that pipeline conversion I was talking about a moment ago. We saw that strategy beginning to play out in the second quarter. A pre-existing project that will ultimately be part of Frontier Power USA was executed prior to the closing of the joint venture, using financing provided by a service affiliate. That project accounted for roughly 80% of second quarter revenue. It demonstrates how this structure can help us get projects into the field sooner and build the reference hours that support future growth. Adding this project is an asset that we believe will deliver mid-teen returns and accrete the value of the joint venture in which we hold the minority interest. I'm putting that on the table first because I want you to understand it is a strategy rather than just a footnote. Our pipeline has historically experienced delays closing project financing, not technology acceptance. We saw qualified projects with real offtake sitting unbuilt because developers could not close their capital stack. So we've built the vehicle. Frontier Power USA supplies the capital, Eos supplies the technology, and we hold a minority interest in the entity. Walk the left side of the page, $263 million of gross proceeds initially raised, supporting an estimate $1 billion project deployment, the funnel behind it. 16-gigawatt hours of opportunity pipeline, 5 gigawatt hours acquired, selected or under active due diligence and 1.8 gigawatt hours under construction are approaching full notice to proceed. First projects under this vehicle are expected to be online by the third quarter of 2027. That is the project journey I showed you 2 slides ago, running at platform scale with capital waiting for projects instead of projects searching for capital. Now in the middle of the page, because this is a long-term operating asset and it creates value in three ways. Frontier Power USA operates projects for recurring revenue. It can sell projects and recycle the capital with new ones and at scale, the platform itself becomes highly valuable. Eos participates in all 3. We are the long-term service agreement counterparty across the small fleet with up to 25% to 30% of total CapEx over a 20-year life. We hold economic ownership in the platform so we share in the recurring cash flows, the project sale proceeds and any future monetization of the platform. In every project, Frontier Power USA puts into operations, ads, reference hours to the installed base and to that chart I showed earlier, which will accelerate the next order and backlog growth and conversion of pipeline into orders, orders into assets operating in the field. APAC, the U.S. Department Award and the customers who placed orders this quarter growing. Both engines are running, and they compound as we execute our strategy and projects become operational. So we have a strong demand signal. We are building installed base operating hours as a capital partner that unlocks accelerated growth. Strong execution delivers profitable growth. And let me turn it over to the man responsible for all that John for an operational update. John Mahaz: Thanks, Joe, and good morning, everyone. Q2 was about focus, disciplined operation and increased efficiency. Turtle Creek delivered on all 3. Cube output increased 20% sequentially reaching an annualized production rate of approximately 1.5 gigawatt an hour in June. More importantly, we achieved that while keeping labor costs essentially flat. On materials, we're beginning to see the work we've been doing translate into lower cost. Material costs improved by 10% sequentially, with the benefit of tariff free base paid in prior periods on an imported components. Excluding that, material cost per cube improved 1% sequentially. We expect further improvement in the third quarter as inventory balances are worked through production, and we realized the benefits of our cost reduction initiatives. More broadly, there is a continuous learning cycle in our business where we take feedback from the field and incorporate those learnings into the design. While that can add cost in the short term, it ultimately drives meaningful cost reductions over time. When we launched DawnOS in the third quarter of 2025 material costs increased as we noted on our last earnings call. Since then, we have reduced material costs by 12.5% in less than a year. At the same time, we invested in product enhancements throughout 2026 based on the field earnings. Had those enhancements not been incorporated, material costs would have been down 14.5%. We achieved this despite elevated inflation of volatile geopolitical environment and a continually evolving product design, which reflects the strength of our continuous improvement process. Labor productivity also improved during the quarter. Direct labor cost per cube declined 20% sequentially, while production increased, reflecting better execution and increasing efficiency across the factory. Manufacturing overhead per cube improved 4% sequentially. However, if you look at Turtle Creek on a stand-alone basis, overhead for cube improved approximately 16%, reflecting the productivity gains delivered by the team at the Turtle Creek plant. The consolidated result was temporarily impacted by the underutilization of Thorn Hill as we brought Line 2 into commercial production. That's exactly what we would expect at this stage of the ramp. As planned, we have been operating on one partial shift while we validate the line's performance. This phased approach allowed us to add labor incrementally as we ramp up that line. Over the next several months, we'll continue to add shifts and increased utilization. As volumes ramp, we expect utilization to improve, fixed costs to be absorbed across greater production and the operating leverage built into Thorn Hill to become increasingly evident in our results. While we're pleased with the progress that Turtle Creek, our focus is not simply on incremental improvements. Our focus is on achieving the cost structure we've always envisioned for the business. That's where Thorn Hill comes in. The biggest opportunity ahead of us is not just the continuation of what we've already accomplished is the earnings power we unlock as we fully utilize a purpose-built, highly automated manufacturing platform. During the first half of 2026, we produced 17% more cubes than we did in all of 2025, and we matched last year's total production volume in just 164 days. What's most important is that scrap dollars on that same volume were down 63%, validating that our manufacturing platform is scaling as planned. With Line 2 contributing only 1% of second quarter production, we have yet to realize the full benefit of Thorn Hill, leading significant operational upside ahead. Thorn Hill is already delivering the performance we intended. Initial Line 2 battery cycle times are 10% faster and bipolar cycle terms are 11% faster than Line 1, with additional redundancies built in to improve line availability. That drives a near-term increase in overhead per cost cube and an improved as we scale production, and we will continue to improve performance from here. As we move through the third quarter, we're evaluating the timing of consolidating Line 1 in the Thorn Hill. There is never a perfect time to make a move like this. You have to balance execution, customer commitments and operational continuity. That said, after years of operating manufacturing facilities, I've learned that the sooner you pick a path, the sooner you begin realizing the benefits, waiting rarely creates value. Consolidating the footprint will allow us to upgrade Line 1 to the same single piece flow design, while at the same time implementing redundancies to remove a single points of failure. The focus becomes much clearer. One building, multiple production lines, one overhead structure and more volume going through the same footprint. Based on our current analysis, we believe this initiative alone could deliver an additional 10% to 15% reduction in conversion costs on top of the improvements already embedded in our current operating plan. Achieving those savings would require a modest investment to relocate and integrate Line 1 in Thorn Hill. But even after accounting for that investment, we currently estimate a payback period of approximately 9 months. This is what positions us to 2027. It is the foundation for the margin improvement, Alessandro will walk you through on the next page. Thanks, everyone. With that, I'll turn it over to Alessandro. Alessandro Lagi: Thank you, John, and good morning, everyone. Before I start to discuss the quarter, let me say that it's a privilege to be here, and I want to thank the entire U.S. team for the company that they have built and the progress that they've made over the last few years. I followed Eos for several years, first as a shareholder and now for the past 2 months as a CFO. Over the last 25 years, I've led finance organization across global energy and industrial businesses. What brought me here was the combination of a unique vision and differentiated technology, and expanding market and a business at an operational inflection point. Before I joined, I visited our manufacturing facilities. Having spent most of my career around industrial operations, the level of automation stood out. Eos designed this platform for the volume the business is growing into rather than the volume it adds, and that decision is now paying off. I strongly believe that Eos is at a real keeping point. Looking at what the team has built gives me tremendous confidence in the opportunities ahead. I believe I bring an operational mindset that complements the team with a particular focus on execution and margin expansion. I'm excited to be part of the next phase of growth and to help translate the scale we've built into stronger profitability and long-term shareholder value. I want to finally thank Nathan for this partnership through the transition and for the financial foundation he has established. With that, let me turn now to the second quarter. Revenue increased to it's highest of $68.8 million, which is up 351% year-over-year and 21% sequentially. With cube deliveries increasing 207% year-over-year and 20% sequentially. Now turning to margins. Gross loss totaled $48.8 million. Margin improved 132 points year-over-year and 7 points sequentially. Excluding stock-based compensation and depreciation and amortization, adjusted gross loss was $42.9 million, and an adjusted gross margin of negative 62%. This marks our seventh consecutive quarter of gross margin improvement and reflects the operational progress we're making across the business. The second quarter results also reflect the continued scaling of our manufacturing operations with some expected cost pressure as we invest in supporting that growth. In these regards, 2 items impacted the quarter. First, Thorn Hill. As you heard from John, a newly commissioned line operates below its long-term utilization targets, which weighed on fixed asset absorption. As throughput increases and the line matures, absorption improves. Second is field cost. Our installed base expanded, which drove higher deployment and commissioning activity, and we accelerated the DawnOS upgrades across portion of the legacy fleet. The improved field data that Joe discussed earlier is directly related to this work. Both reflect investment in supporting a growing asset base rather than a structural increase in our cost profile. We flagged these pressures last quarter, and we continue to expect in to diminish significantly by the fourth quarter. Operating expenses totaled $35 million, increasing 6% year-over-year while remaining essentially flat compared to the first quarter. While revenue increased 351%, we reduced the SG&A by 4% and increased R&D by 46% to invest strategically in the future software capabilities and product development. This clearly demonstrates the diligence around cost and cash management from the team. Net loss for the quarter was $276 million, with an adjusted EBITDA loss of $71.4 million. A margin of negative 104%, which is improving 235 points year-over-year and 16 points sequentially. Reported net loss continues to be driven primarily by noncash fair value adjustments related to our capital structure. Specifically, changes in our share price results in mark-to-market revaluation of warrants and derivative liabilities. As an example, when our share price increases, the value of certain warrants also increases, which can result in a higher account liability and a corresponding noncash expense. Those adjustments create volatility in reported earnings and do not reflect an operating performance. Now turning to the balance sheet and cash flow. We are encouraged by the continued improvement in how operating cash flow track adjusted EBITDA during the quarter with almost 100% free cash flow conversion from operations. Working capital did not consume incremental cash even as revenue grew 21% sequentially, and we continue to invest in the Line 2 build-out at Thorn Hill. As a result, we ended up the quarter with $364 million in cash. We remain focused on disciplined cash management, and we believe we are well positioned as we continue to improve margin. We are preparing the advanced request for the second year retranche and expect to close it by quarter end, subject to the conditions outlined in the loan agreement. Now let me close today's prepared remarks with the critical drivers to deliver positive adjusted gross margin. When you look at our history, product adjusted gross margin moved from approximately negative 983% in the second quarter of 2024 to negative 40% this quarter. That is more than 940 points of improvement in 2 years. Two years ago, we carried the cost of building a manufacturing platform well ahead of volume. We invested in automation, expanded the footprint, qualified suppliers and build an organization for the business we believe we could become. Over the last year, those investments become translating into performance. We increased production, improved yields, reduced manufacturing costs and benefited from the supplier economics as volume grew. This quarter continued our progress. Some of the manufacturing gains were offset by the project execution investments I described earlier. Those were deliberate, we chose to strengthen our ability to execute as deployments scale, and that choice creates near-term margin pressure. The heavy lifting of building the platform is largely complete and now the work is leveraging it. That is what the right side of this page shows. There are 4 drivers of cost out that we're pushing with detailed plans in place that John just walked us through. First, we anticipate a roughly 25% point reduction in material cost as a percentage of revenue. As backlog conversion becomes more predictable, we move from transactional purchasing to longer-term supply agreements. Additionally, the team is executing against more than 90 active cost reduction initiatives, focused on simplifying design, reducing material content and improving manufacturability. Second is conversion costs, approximately 20 points of reduction from the framework that John just walked us through. The step change comes from running under one cost structure. Supervision, planning, quality, maintenance and production support stay relatively constant, whether we run 1 line or 4. Materials management is one of our largest labor costs today and we move product between floors, buildings and warehouses with label intensive processes using temporary labor. At Thorn Hill, the majority of that movement is automated with conveyance and automated mobile robots. Third is project and field services, contributing another 20 points or so. As we said, we invested in the field this year through DawnOS upgrades while leveraging third-party resources. As that work is completed and we bring execution activities back to internal teams, project productivity improves and our reliance on external support declines. We are applying the same operational discipline, we have established inside our manufacturing facilities. We actually view the field as a factory with our walls and lead principles apply. As both projects become operational, we expect this cost to increase. However, we view this as an attractive opportunity over time and believe it can become a profitable area of the business as we continue to build and scale our internal capabilities. Finally, we expect approximately 8 points from continued yield improvements in our subassembly processes. We have already made solid progress here and as tooling and equipment upgrades are completed at a tighter component tolerance are implemented, we expect to further reduce scrap and improve first-pass yield. So combined, these initiatives provide what we believe is a clear path to over 72 points of adjusted gross margin improvement over the next 12 months, assuming we execute our plan and achieve expected production volumes. We have demonstrated that we can build the capability. The next chapter is converting that capability into earnings, and I believe we have a clear plan to get there. As we continue the base cost control, we expect adjusted EBITDA to improve with increasing operating leverage, with execution and volume growth, determining the pace of our improvement. While there is still work ahead, I'm confident in this team, I'm confident in the road map and excited about the opportunity to drive margin expansion. With that, I'll turn it back to the operator for questions. Operator: [Operator Instructions] Our first question comes from Christopher Souther with Truist. Christopher Souther: So just to kind of unpack the updated revenue guidance. And the path here, the low end is essentially 1.5 gigawatt hours for the rest of the year, just Thorn Hill and the high end? Are we assuming that Line 1 comes back online at Thorn Hill is producing as well? Joseph Mastrangelo: Chris, so lower end is basically continue the run rate of June throughout the rest of the year to get to the 300. The higher end of that is to not so much get Line 1 up and running in Thorn Hill, but to get Thorn Hill the full 24/7 operation by the time we get into the -- at the end of the fourth quarter. Christopher Souther: Got it. Okay. So if Thorn Hill is just 1% of 2Q production, what kind of throughput are we seeing today? And how close are we to kind of ramping that up towards the 1.5 gigawatt hour rate we need for the low end there? Joseph Mastrangelo: So we'll continue to run Line 1 and Line 1 is running really well, and John has actually got Line 1 to its nameplate performance. And the team continues to bring Thorn Hill up into operations. But the Thorn Hill up in operations right now is more of the training and staffing of the people to run the line. So we'll go one -- the way what we've learned and we did Turtle Creek is get one turn up and running, add a second shift, get that up and running and go from there versus trying to do it all at once. But like what John and the team has done with the second line is nothing short of phenomenal when you look at the results you talked about on how the line has been performing initially. Christopher Souther: Got it. Okay. And then I appreciate all the gross margin walk drivers to get to the 10% gross margins by 2Q of next year. Can you provide a bit more detail on some of the material costs and project drivers? I think the conversion in scrap are pretty clear, but would love to get a better sense on what the cost out initiatives are and the DawnOS and third-party labor like what those kind of drivers look like and how those progress over the next year? Joseph Mastrangelo: So Chris, I think, and John and Alessandro can jump in. I think when you look at what the team is doing, having a clear revenue conversion plan now allows us to go out to suppliers and drive down costs, and we're seeing the costs like -- I think we talked about this in the presentation itself where 2Q, there was a little bit of timing, 3Q, we're seeing costs come down as we get into July. John will keep driving that with the team on supplier cost out. Then I think the second piece of this that you laid out is just part simplification, as you move through. It's taking DawnOS making the way the firmware and how we run the hardware that -- how we run DawnOS, simpler, taking cost out on that, scaling up with suppliers or going more from -- as we do this, we start off with a supplier that can move quickly to get us through prototype to initial production. And then John, with his relationships and background with [ Jabil ] and other contract manufacturers allows us to scale into a lower-cost solution to continue to drive that down. And then the third piece of it, which you talked about is as we've gone through and started and started ramping up and installing more megawatts out in the field, we started off just like we did when we did this in Turtle Creek, if you remember, we were talking about bringing in temp labor as we brought up Eos capability and then eventually phasing out that temporary labor and having be all Eos, you see that in the 7 quarters of improved margin that we've delivered. We're doing the same thing out in the field. You started off with people that worked out in the field, you build up your capabilities, we start off with supervision. Now we'll get into labor and we'll selectively use third party but drive down to a lower cost point on a labor input basis by using Eos employees to do insulation and commissioning. Operator: Our next question comes from Stephen Gengaro with Stifel. Stephen Gengaro: Two for me. The first one is, can you talk about the customer concentration that we see in the 2Q rev and the backlog that you mentioned in the press release. And how we should expect and what you expect to see from sort of a diversification of the customer base going forward? Joseph Mastrangelo: Yes. I mean, look, Stephen, I think when you look at 2Q, like we had an opportunity to take a project that had a strong return profile added as an initial asset into Frontier Power, and we capitalized on that working with Cerberus, and it was, I think, a great move for us. When I think about what we're trying to drive with Frontier Power is we're trying to drive returns on the basis of individual project returns, which this does with the project that we're delivering right now. The same time, we create a pool of assets that can be monetized later on to spin the flywheel. And then also, I think owning 36% of an entity and when you look at comps of other developers like Frontier Power, it gives us the opportunity to be able to build the company and build valuation around that. I think inside of this, like, over time, there's going to be a blend of bringing in both Frontier Power as we execute and then also price that are closing out in the market with third parties, and there'll be a blend of that as we move forward. I think the important thing for us is having sure you have a baseline of backlog conversion that allows us to load the factory that allows us to sign longer-term supply agreements because we know what we're going to need to deliver. And it just gives also the commercial team the ability to go out and sell slots in the factory to be able to accrete -- to deliver revenue and accrete margin. Operator: [Operator Instructions] We have question from the line of Stephen Gengaro. Stephen Gengaro: Sorry, Joe, I was muted, but just a follow-up to that in another question. But the follow-up was, I understand the FPSA side. But in your pipeline of opportunities and the customers you're talking to you, how should we expect that now 50% of your backlog is from that single entity. How should we think about that customer diversification evolving? Because that's something that we get a lot of questions on from investors. And I'm just curious, the conversations you're having like if we're sitting here 12 months from now, like how should we think about that from a nonaffiliated entity in the backlog. Joseph Mastrangelo: I mean, Stephen, if we're adding assets that deliver returns in the Frontier Power USA., I think it's great. What I'd like to see is less percentages change and more of the size of the pie grow. And I think that's what we're focused on. I think getting Frontier Power and being able to execute quickly, getting projects referenced down the field, lead to the other half of that pie continuing to grow. We continue to work through that, and we're very selective. We do all the Frontier Power transactions at arm's length. So we're looking at projects that deliver returns and support long-term asset growth into Frontier Power. But at the same time, there's a large pipeline there that needs to convert and convert faster. And I feel really good when you look at things like what we announced in Germany. Germany, Austria and Switzerland, that's now landing real volume into Europe and allows us to expand in Europe. We feel also good about the recent announcement that we have with the Department Award because I think we talked about the specific program where we're in a strategic partnership. But Microgrids, and when you look at -- when you look at energy consumption, the government is one of the largest energy consumers in the United States. So being able to come in and show them that we have a solution that is American made fair compliant, all the things that we've always talked about that can deliver the diversity of cycling and applications, is another area that we're going to be able to grow. None of this moves as fast as you would like it to as we've been experiencing here over the last couple of months. But like when you look at where we are and where we want to go and the performance we're seeing out in the field, it gets stronger and stronger and stronger. So look, having a 50-50 split, I think that would mean that Frontier Power is doing its job, and we're growing a company like you see other project developers doing out in the market -- in the marketplace and having a partner where we can execute through would be great. And keeping that 50% split on the other side and making the pie bigger from the 800 is the goal that the team has. Stephen Gengaro: Great. And when you think about the mobilization of Line 1 over time and consolidating the Thorn Hill, and there's sort of 2 questions behind that. One is, are you doing it now versus waiting because of just the timing of backlog delivering your ability to meet delivery obligations and Mobile line? Or is it because you've seen such higher efficiency out of Thorn Hill, and it's critical to driving margin expansion. Joseph Mastrangelo: Yes, Stephen. Look, I think there was a couple of factors that came into this is -- just as you look at how the backlog conversion was laying out, we want to hit January running. Like when you look at this, like, we've seen the growth of the company, and I want to emphasize everybody that Turtle Creek is and could -- is operating to the nameplate. Just between the nameplate, just between all the movements and things you have to do it just becomes complicated. And this just simplifies. It's a simplification effort to get to scale next year. And I think doing it this year when we know we can execute both of them together, it just also takes the noise out of 2027 for us. And really focuses us on executing around the 2 lines. The other piece of this is John and the team with what they've done on Line 2 and the redundancies that they built in from the lessons learned in 4Q and other things that we've been able to do. And you see it in the results you put on this page, you see it and how it's performing versus Line 1. This is not about "Oh Turtle Creek doesn't work." It's a story of Thorn Hill works better. And why do we wind up where we wound up. Stephen, you and I have talked about this before. We moved into Turtle Creek because at the time we were setting up manufacturing, it's what we could afford. We expanded into areas of what we can afford. The line has laid out the way it's laid out in Turtle Creek as we had to fit it into the building that we can afford. Thorn Hill gives you now the straight shot to be able to do this without forklift, without pallet movers. It just simplifies the entire operation, which 5 years ago, we couldn't afford to do it. So we got Turtle Creek running the best that it could run, we knew we would come to this point. It's why we went out and negotiated to move into Thorn Hill and come up with a flagship factory. But when you go see it, you sit there and you say, "I see the difference." When you look at and you think about -- you've been in the factory, Stephen, when you think about the second floor of the building where we're manufacturing bipolars and you walk that floor and then go to Thorn Hill, you see and feel the difference of the efficiencies that we gain, the material movements and how fast things can flow. And the fact that John's got it running at 9 seconds is a testament to all the hard work that the team has done and the fact that, yes, we may have problems in everybody that scales in manufacturing operations. We'll stub their toe here or there, but we don't stub our toe in the same thing twice. And that's what the results are showing, and that's why we're doing what we're doing. Stephen Gengaro: Great. And then maybe one quick one, and I don't know if you're going to be able to address this yet, but when we think about FP USA and your ownership position in that business, how do we think about the profitability of FP USA like when does that business become profitable? And then those profits kind of you've been obtaining the 1/3 of those profits? Joseph Mastrangelo: Yes. So Steve, remember, this will be below the line profitability. It's not going to be operating profit. But like when you're talking about like initial projects coming online in second half of next year, once those start operating, then you should start seeing the profitability come through and the return on investment occurring as other income. Operator: Our next question comes from Joseph Osha with Guggenheim. Joseph Osha: One of the things you talked about last year, we haven't heard as much about recently is the data center opportunity, and in particular, some of the advantages that you felt like you have in terms of the ability to cycle, the ability to locate close to the building and so forth. I'm just wondering if we might be able to get an update there. And I'm curious to the extent you're doing anything, what kind of durations you're seeing your customers ask for? Joseph Mastrangelo: Yes, Joe, so we did talk about data centers on the -- if you go back to the page on the pipeline, 32% of what's in the pipeline is data center related. And we've always talked about -- and you and I have talked about this in the past, there's 2 things. There's 2 segments within data centers. Segment 1 is co-locating with the data center. Segment 2 is having a storage asset in a generating area where data centers are going to be installed. We feel really good. I think on the second part, that's really what the talent relationship is all about is getting those projects with talent that will be in PJM and in Pennsylvania, and having them supporting the demand load from data centers. So a lot happening there. But obviously, we're at the time lines of how the PJM auction and backstop auction are going to work. So we're working through all those things. But feel really good about the work that we're doing with Mac and his team. On the locating directly on the site, continue to work through that. There's qualification work that you need to do. I mean, like as I talked about, like the more and more that I work with high-speed computing, you realize like we like to talk about, and think about energy storage as this great technological marvel and things that they can do and everything else. But from a data center, it's a cost of goods sold in a factory and their factory is high-speed computing. So they want to make sure that they have the reliability and performance that they need. We can perform on inference and do millisecond response times, we could do, as we've said many times, we do all the things that we talked about before that none of that has changed. It's a matter of working through with the suppliers to get to the point where we're going to be able to announce firm contracts with people building -- with putting and citing energy storage alongside a data center. Joseph Osha: Okay. So it sounds like at this point, it's sort of more the grid level resilience for the near term at least than it is necessarily the on-site power quality, although that's evolving. Is that a correct way to think about it? Joseph Mastrangelo: I don't know that I would term it that way, Joe, and I'm not going to handicap where we are in either one of those things. We'll announce as we come, but they're both moving and I think they're both moving -- they're both moving really well, and I'm proud of the work that the team is doing and the customers that are talking to us about that. That's not how I would characterize it. Joseph Osha: Okay. And just on that other point I made about duration. One of the things we hear a lot is that the data center operators, hyperscalers, colos, whatever, are going to suppliers and saying, "Hey, we want rapid response time and all that." But we want pretty short duration of an hour or 2. I have someone else told me yesterday, they're shipping mostly 2 hours. So are you seeing requests in that part of the market for shorter duration devices? Joseph Mastrangelo: The way I would term it, Joe, is you see multiple cycles and shorter durations that add up to longer duration discharge. And I think the reality of that is that plays into a strength of Eos of being able to cycle the battery multiple times in a day and have it be able to perform. So yes, like I don't know that the total amount is 2 hours because if you're running inference sessions and you have to cycle with our battery, you don't run the risk of the thermal runaway that you see with other technologies. So we feel really good about where that is. And I think -- and I've said this many times before, this is no different than any other segment in the energy industry. There's going to be a diversity of technologies required for use cases. And we have a big segment where our technology can serve a use case. Operator: That concludes today's question-and-answer session. I'd like to turn the call back to Joe Mastrangelo for closing remarks. Joseph Mastrangelo: Thanks, everyone, for listening today. Look, we continue to make progress. I think one comment that came out were very clear on the goal of the company is to become profitable and become EBITDA profitable, gross margin is a signpost and a journey to becoming profitable and generating free cash flow. And that's what we'll keep everybody updated on as we move forward. It's the focus of John and Alessandro, and the team. We continue to see strength on the commercial side, and we'll have to keep working through the opportunities in the pipeline, but are really excited about the ability to create and accrete value for our shareholders through Frontier Power USA through multiple avenues of just building up the potential returns of Frontier Power itself, but also Frontier Power giving us the opportunity to do better planning as we come out of the factory, to get assets out in the field running faster to get more references around the 6.5 gigawatt hours that we've discharged really excited about how DawnOS is evolving and the performance that we've seen. When I look at how we cycle, look, having a technology, we're not a technology that's 50 years old. We're a relatively new technology. And as we cycle, we learn from every cycle, we update our software and we get more performance out of the system. And as we talked about, like when you think about performance of Eos and its technology, you're starting to see the bottom end of our round chip efficiency creep up to the median, which means that the overall distribution is now skewing up to the high side. The next thing now is once you reduce variation as you shift the mean hire. Entitlement, you see it, we're running cycles at entitlement of 91%. We can run those cycles going back to the question that Joe asked like, if you look at the cycles we run, we've gone down to as little as 2.5 hours, 2.5 hours as high as the highest 11 or 14 hours off of the Z3 technology. It's a flexible technology that can meet multiple use cases. We've got to keep our head down and execute and make the company profitable, and that's what we're focused on as a leadership team. We'll keep everybody updated on the progress. Thanks for listening today. Operator: This concludes today's conference call. Thank you for participating. You may now disconnect. 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This article is a transcript of this conference call produced for The Motley Fool. While we strive for our Foolish Best, there may be errors, omissions, or inaccuracies in this transcript. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings. Please see our Terms and Conditions for additional details, including our Obligatory Capitalized Disclaimers of Liability. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. Eos Energy (EOSE) Q2 2026 Earnings Call Transcript was originally published by The Motley Fool

Post quarter end, booked a $100 million purchase order for Phase I of the Blanquilla project under Frontier Power USA’s (FPUSA) 2 GWh Capacity Reservation Agreement Awarded Golden Dome for America contract and entered strategic partnership with the Department of War to deploy American-made long-duration energy storage for critical defense infrastructure Expanded backlog to a record $807 million, up 25% sequentially, driven by orders from four new and two repeat customers Secured $263 million in gross proceeds for FPUSA, exceeding the joint venture's initial equity target and expected to support more than $1 billion of deployable project capital Generated $68.8 million in revenue; combined revenue over the last two quarters exceeded full-year 2025 revenue Launched commercial production on Line 2 at the Thorn Hill facility, realizing an initial 10% improvement in battery cycle time compared to Line 1, with further optimization opportunities expected as production ramps Surpassed 6.5 GWh of cumulative energy discharged by Eos technology, up nearly half a gigawatt-hour over the past three months, with projects totaling more than 200 MWh of incremental energy expected to begin operations by year-end 2026 Tightened full-year 2026 revenue guidance to $300 million to $350 million, from the prior range of $300 million to $400 million, and is evaluating the timing of consolidating manufacturing operations into its Thorn Hill facility to drive efficiencies, enhance margins, and support long-term profitability PITTSBURGH, Aug. 05, 2026 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos” or the “Company”), America’s leading innovator in designing, manufacturing, and providing zinc-based long- duration energy storage (LDES) systems sourced and manufactured in the United States, today announced its financial results for the second quarter ended June 30, 2026. Second Quarter Highlights Revenue totaled $68.8 million, a 351% year-over-year increase, driven by 207% higher cube deliveries. Gross loss was $48.8 million, compared to $31.0 million in the prior-year period. Gross margin was negative 71%, improving 132 percentage points year over year and 7 percentage points sequentially. The improvement reflects increased production volumes and lower conversion costs, partially offset by temporary manufacturing underutilization as operations ramped across two facilities and higher project costs to support a growing installed base. Adjusted gross loss, excluding stock-based compensation and depreciation, was $42.9 million. Net loss attributable to shareholders totaled $275.7 million, primarily driven by mark-to-market fair value adjustments on certain liabilities, reflecting changes in the Company’s end-of-quarter stock price. Adjusted EBITDA loss was $71.4 million, compared to an adjusted EBITDA loss of $51.6 million in the prior-year period. Adjusted EBITDA margin improved by 235 percentage points year over year and 16 percentage points sequentially, reflecting continued operational efficiencies and increased leverage on higher revenue. Total cash of $364.1 million, including restricted cash, as of June 30, 2026. Backlog of $807 million, representing 3.4 GWh, up 25% sequentially, with a commercial opportunity pipeline of $24.6 billion, as of June 30, 2026. “We delivered more revenue in the first half of 2026 than in all of 2025,” said Joe Mastrangelo, Chief Executive Officer of Eos. “The market wants a U.S. supplier of long-duration energy storage that can deliver at scale. Our focus now is converting that demand into profitable growth. The decisions we are making today, including the consolidation of manufacturing into Thorn Hill, are about building a lower-cost operation that can support that demand.” 2026 Revenue Outlook Eos is tightening its full-year 2026 revenue guidance to $300 million to $350 million, from its prior range of $300 million to $400 million. The revised outlook reflects the Company's evaluation of the timing associated with consolidating its production lines into a single manufacturing footprint in Thorn Hill. The consolidation initiative is expected to improve manufacturing efficiency, optimize capacity utilization, enhance margins, and strengthen the Company's long-term operating profile. Recent Business Highlights Frontier Power USA FPUSA exceeded its initial $250 million equity target, with approximately $263 million of gross proceeds raised from Eos, Cerberus Capital Management, and Hudson Bay Capital Management. With Eos’ Rights Offering now complete, the platform has secured the equity needed to advance its next phase of growth. These commitments, including the gross proceeds of the Rights Offering, are dedicated to FPUSA and will be used to fund project development at the joint venture. FPUSA is expected to have access to more than $1 billion of deployable project capital and has established a development pipeline totaling approximately 16 GWh. Approximately 5.0 GWh of projects have been acquired, selected, or are under active diligence, including approximately 1.8 GWh that are under construction or approaching notice to proceed. In anticipation of the formation of FPUSA, Eos generated $55.0 million of revenue in the second quarter from a pre-existing project executed using financing provided by an affiliate of Cerberus prior to the closing of the joint venture. The project contributed approximately 80% of total second quarter revenue and was contributed to FPUSA upon closing, which occurred on August 4, 2026. As of June 30, 2026, this project and FPUSA represented 49% of Eos' backlog volume. Commercial MomentumCommercial momentum remained strong during and after the quarter. Backlog increased to a record $807 million, up 25% sequentially and 20% year over year, driven by orders from four new customers and two repeat customers. During the quarter, Eos received the first purchase order supporting the 100 MW / 400 MWh Redbird project. Upon FPUSA closing on August 4, 2026, this purchase order was transferred to FPUSA, where it became part of the parties’ 2 GWh Capacity Reservation Agreement. Eos also expanded its international presence through a binding Master Supply Agreement with CAPAC Energy, establishing an exclusive distribution partnership across Germany, Austria, and Switzerland with an initial 750 MWh commitment and the potential to scale to 2 GWh through 2031. Subsequent to quarter end, Eos announced a strategic partnership with the Department of War and was awarded a contract supporting the Golden Dome for America initiative to deploy its Eos Z3™ zinc-based long-duration energy storage technology at a critical defense installation. The Company also received a $100 million purchase order from FPUSA for Phase I of the Blanquilla project. These milestones reflect continued commercial execution, expanding market opportunities, and growing demand for Eos' safe, American-made energy storage technology, further strengthening the Company's long-term growth outlook. Launch of Commercial Production at Eos’ New Thorn Hill Facility Eos launched commercial production on Battery Line 2 at its Thorn Hill facility in mid-June, on schedule and in line with prior expectations, expanding manufacturing capacity to support growing customer demand. The Company is currently operating one partial production shift as part of its planned ramp strategy and remains on track to reach full production capacity in the fourth quarter. During the quarter, Eos completed Site Acceptance Testing and commissioning across all sub-assembly operations, bringing the full automation online. Line 2 continues to demonstrate strong initial operational performance, with cycle times running approximately 10% faster on the battery line and 11% faster on the bipolar line compared to Line 1, reflecting continued improvements in manufacturing efficiency and throughput. Earnings Conference Call and Webcast Eos will host a conference call to discuss its second quarter 2026 results on August 5, 2026, at 8:30 a.m. ET. The live webcast of the earnings call will be available on the “Investor Relations” page of the Company’s website at Eos Investors or may be accessed using this link Eos Energy Second Quarter 2026 Earnings Conference Call. To avoid delays, we encourage participants to join the conference call fifteen minutes ahead of the scheduled start time. The conference call replay will be available via webcast through Eos’ investor relations website for twelve months following the live presentation. The webcast replay will be available from approximately 11:30 a.m. ET on August 5, 2026, and can be accessed by visiting Eos Investors. About Eos Energy EnterprisesEos is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. The Company’s BESS features the innovative Znyth™ technology, a proven chemistry with readily available non-precious earth components, that is the pre-eminent safe, non-flammable, secure, stable, and scalable alternative to conventional technology. The Company’s BESS is ideal for utility-scale, microgrid, commercial, and industrial long-duration energy storage applications (i.e., 4 to 16+ hours), and provides customers with significant operational flexibility to effectively address current and future increased grid demand and complexity. For more information about Eos (NASDAQ: EOSE), visit eose.com. Contacts         Investors: [email protected] Media: [email protected] Forward Looking StatementsExcept for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding our expected revenue for the fiscal year ending December 31, 2026, our path to profitability and strategic outlook, statements regarding orders backlog and opportunity pipeline, statements regarding the joint venture, the transactions related thereto, and any anticipated benefits of the joint venture, statements regarding our expectation that we can continue to increase product volume on our state-of-the-art manufacturing lines, statements regarding our future expansion and its impact on our ability to scale up operations and increase margins, statements regarding the expected impact of DawnOSTM on efficiency operating costs, and grid coordination, statements regarding the launch of Indensity™ and our expectations for the architecture and its expected energy density, statements regarding our expectation that we can continue to strengthen our overall supply chain, statements that refer to outlook, projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to generate cash, service indebtedness and incur additional indebtedness; our ability to raise financing in the future; our ability to obtain stockholder approval of an increase to our authorized common stock; risks associated with the joint venture, including the risk that the joint venture will not be completed on the anticipated timeline or terms, or at all, and risks associated with FPUSA’s ability to develop, finance, construct and monetize projects; risks associated with the credit agreement with Cerberus, including risks of default, and dilution of outstanding common stock; our customers’ ability to secure project financing; the amount of final tax credits available to our customers or to Eos pursuant to the Inflation Reduction Act, including potential impacts from any repeal or modifications of the legislation; the timing and availability of future funding under the Department of Energy Loan Facility; risks associated with the successful execution and expected benefits of any manufacturing consolidation initiatives; our ability to continue to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; our ability to convert firm order backlog and pipeline to revenue; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with evolving energy policies in the United States and other countries and the potential costs of regulatory compliance; risks associated with changes to the U.S. trade environment; our ability to maintain the listing of our shares of common stock on NASDAQ; our ability to grow our business and manage growth profitably, maintain relationships with customers and suppliers and retain our management and key employees; risks related to adverse changes in general economic conditions, including inflationary pressures and increased interest rates; risk from supply chain disruptions and other impacts of geopolitical conflict; changes in applicable laws or regulations; the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; other factors beyond our control; and other risks and uncertainties indicated. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in the Company’s most recent filings with the Securities and Exchange Commission (the “SEC”), including the Company’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Moreover, the Company operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Should one or more of these risks or uncertainties materialize or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Key Metrics Backlog. Our backlog represents the amount of revenue that we expect to realize from existing agreements with our customers for the sale of our battery energy storage systems and performance of services. The backlog is calculated by adding new orders in the current fiscal period to the backlog as of the end of the prior fiscal period and then subtracting the shipments in the current fiscal period. If the amount of an order is modified or cancelled, we adjust orders in the current period and our backlog accordingly, but do not retroactively adjust previously published backlogs. There is no comparable U.S. GAAP financial measure to backlog. We believe that the backlog is a useful indicator regarding the future revenue of our Company. Pipeline. Our pipeline represents projects for which we have submitted technical proposals or non-binding quotes plus letters of intent (“LOI”) or firm commitments from customers. Pipeline does not include lead generation projects. Booked Orders. Booked orders are orders where we have legally binding agreements with a Purchase Order (“PO”) or Master Supply Agreement (“MSA”) executed by both parties. Non-GAAP Financial MeasuresTo provide investors with additional information regarding our financial results, we have disclosed in this earnings release non-GAAP financial measures, including adjusted EBITDA and adjusted gross profit (loss), which are non-GAAP financial measures as defined under the rules of the SEC. These non-GAAP financial measures should be considered supplemental to, and not a substitute for or superior to, the financial measures of the Company’s calculated in accordance with U.S. generally accepted accounting principles (“GAAP”). The Company believes adjusted EBITDA and adjusted gross profit (loss) are useful measures in evaluating its financial and operational performance distinct and apart from financing costs, certain non-cash expenses and non-operational expenses. We believe that non-GAAP financial information, when taken collectively, may be helpful to our investors in assessing our operating performance. There are a number of limitations related to the use of these non-GAAP financial measures and their nearest GAAP equivalents. For example, the Company’s definitions of non-GAAP financial measures may differ from non-GAAP financial measures used by other companies. Below is a description of the non-GAAP financial information included herein as well as reconciliations to its most directly comparable GAAP measure. You should review the reconciliations below but not rely on any single financial measure to evaluate our business. Adjusted EBITDA is defined as earnings (net loss) attributable to Eos adjusted for interest expense, income tax, depreciation and amortization, non-cash stock-based compensation expense, change in fair value of debt and derivatives, debt extinguishment, and other non-cash or non-recurring items as determined by management which it does not believe to be indicative of its underlying business trends. Adjusted gross profit (loss) is defined as gross profit (loss) adjusted to exclude stock-based compensation, depreciation and amortization.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management is accelerating the consolidation of manufacturing into the modern Thorn Hill facility, prioritizing long-term cost reduction over near-term revenue maximization. The revenue outlook was tightened to $300 million to $350 million to account for downtime during the Line 1 relocation and upgrade to the more efficient Line 2 design. Performance attribution for the quarter was driven by record cube shipments and a 20% sequential increase in output at the Turtle Creek facility while maintaining flat labor costs. Strategic positioning is focused on 'buying hours' rather than just storage systems, with 51% of the pipeline targeting durations of 8 hours or longer where Eos economics are most competitive. The Frontier Power USA joint venture is functioning as a strategic vehicle to bypass project financing bottlenecks, converting pipeline opportunities into operational reference assets. Management emphasizes that the 78% average round-trip efficiency includes legacy units not yet upgraded, while top-tier performance has already demonstrated an 'entitlement' level of 90%. The company expects a 72-point improvement in adjusted gross margin over the next 12 months, driven by material cost reductions and manufacturing efficiencies. Revenue guidance for the second half of 2026 assumes the fourth quarter will be the highest, with the low end requiring only the maintenance of the June exit run rate. Consolidation into Thorn Hill is expected to deliver a 10% to 15% reduction in conversion costs with an estimated payback period of approximately 9 months. Management anticipates the second year tranche of the advanced request loan to close by the end of the third quarter, subject to standard conditions. Future growth assumes a shift from transactional purchasing to long-term supply agreements as backlog conversion becomes more predictable. Reported net loss of $276 million was primarily driven by non-cash fair value adjustments of warrants and derivatives linked to share price volatility. Field costs and project execution investments created near-term margin pressure as the company accelerated DawnOS upgrades across the legacy fleet. The transition to Thorn Hill involves a phased approach to adding shifts to manage labor costs incrementally while validating line performance. A single project accounted for roughly 80% of second quarter revenue, highlighting current customer concentration as the Frontier Power vehicle ramps up. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. The high end of revenue guidance depends on scaling Thorn Hill to a 24/7 operation by the end of the fourth quarter, rather than just bringing Line 1 back online. Line 1 is currently operating at nameplate performance, but Thorn Hill offers a 'straight shot' layout that eliminates inefficient material movements found in the legacy facility. Management aims for a 50/50 split between Frontier Power and third-party customers, focusing on growing the total 'pie' rather than reducing the affiliate's percentage. New strategic partnerships, such as the agreement with CAPAC in Europe and U.S. Department awards, are expected to drive future diversification. Data centers now represent 32% of the pipeline, with demand split between on-site power quality and grid-level resilience near generation hubs. Eos technology is being positioned for 'inference' sessions requiring millisecond response times and multiple daily cycles without thermal runaway risks.

Interested in Eos Energy Enterprises, Inc.? Here are five stocks we like better. Record Q2 performance: Revenue surged 351% year over year to $68.8 million, while deliveries rose 207%. Eos ended the quarter with an $807 million backlog and $364 million in cash, but continued to report substantial losses. Manufacturing consolidation: Eos is moving production from Turtle Creek to Thorn Hill and upgrading Line 1, a transition expected to temporarily reduce capacity but potentially lower conversion costs by 10%–15% and support more than 72 percentage points of gross-margin improvement over the next year. Outlook narrowed: The company reduced its 2026 revenue forecast to $300 million–$350 million, citing planned downtime during the Line 1 relocation rather than weaker operations. Eos also highlighted expanding international orders, data-center demand and its Frontier Power venture, with initial projects expected online by Q3 2027. 3 Small AI Stocks Ready to Explode (All Under $20) Eos Energy Enterprises (NASDAQ:EOSE) reported record second-quarter revenue and backlog while narrowing its 2026 revenue outlook as it accelerates the consolidation of manufacturing operations at its Thorn Hill facility. Chief Executive Officer Joe Mastrangelo said the company shipped more product than in any prior quarter, expanded its backlog and made a strategic decision to move production from Turtle Creek to Thorn Hill. The move is expected to reduce near-term revenue capacity but lower the company’s cost base as it exits 2026. → SpaceX’s First Earnings Report Could Decide Whether Shorts or Bulls Have Control Eos narrowed its 2026 revenue outlook to between $300 million and $350 million. Mastrangelo said the reduction at the upper end reflects planned downtime for Line 1 during its relocation and upgrade, rather than an operating shortfall. The company reported nearly $126 million in revenue during the first half, exceeding its full-year 2025 revenue. Revenue rose to a record $68.8 million in the second quarter, an increase of 351% from a year earlier and 21% sequentially. Cube deliveries increased 207% year over year and 20% from the first quarter. → 3 Drone Stocks That Should Soar After the Summer Slump The company recorded a gross loss of $48.8 million, although its gross margin improved by 132 percentage points year over year and seven points sequentially. Adjusted gross loss, excluding stock-based compensation and depreciation and amortization, was $42.9 million, for an adjusted gross margin of negative 62%. Chief Financial Officer Alessandro Lagi said this was Eos’ seventh consecutive quarter of gross-margin improvement. He attributed some remaining pressure to underutilization at the newly commissioned Thorn Hill line and increased field deployment, commissioning and DawnOS upgrade work. → The Bitcoin Comeback May Already Be Underway—2 ETFs for Exposure Operating expenses totaled $35 million, up 6% year over year and essentially flat sequentially. Eos said SG&A expenses declined 4% while research and development spending increased 46% as it invested in software and product development. Net loss was $276 million, while adjusted EBITDA loss was $71.4 million, representing an adjusted EBITDA margin of negative 104%. Lagi said the reported net loss was primarily affected by non-cash fair-value adjustments associated with warrants and derivative liabilities. Eos ended the quarter with $364 million in total cash. The company said operational cash use closely tracked its adjusted EBITDA loss, with working capital not consuming incremental cash despite revenue growth and continued investment in the Thorn Hill buildout. Eos also said it expects to close the second tranche of its Department of Energy loan by the end of the quarter, subject to loan-agreement conditions. Chief Operating Officer John Mahaz said Turtle Creek increased cube output by 20% sequentially and reached an annualized production rate of about 1.5 gigawatt-hours in June. Direct labor cost per cube declined 20% sequentially, while material cost per cube improved 1% excluding the effects of tariff-free imported-component base rates in prior periods. Thorn Hill’s Line 2 accounted for only 1% of second-quarter production as the company operated it on a partial shift while validating performance and training staff. Mahaz said initial battery cycle times on Line 2 were 10% faster than Line 1, while bipolar cycle times were 11% faster. The company plans to consolidate Line 1 at Thorn Hill, where it will be upgraded to a single-piece-flow design and incorporate redundancies intended to reduce operational bottlenecks. Mahaz said Eos expects the initiative could reduce conversion costs by an additional 10% to 15%, with an estimated payback period of roughly nine months after a modest relocation and integration investment. Lagi outlined four cost-reduction drivers intended to support positive adjusted gross margins: Approximately 25 percentage points of improvement from material-cost reductions, longer-term supplier arrangements and more than 90 cost-reduction initiatives. About 20 percentage points from lower conversion costs through consolidation into a single manufacturing structure and greater automation at Thorn Hill. Roughly 20 percentage points from project and field-service improvements as DawnOS upgrades are completed and more execution work shifts to internal teams. About eight percentage points from better yields, tooling upgrades and tighter component tolerances. The company said these initiatives could provide more than 72 points of adjusted gross-margin improvement over the next 12 months, assuming execution of its plan and expected production volumes. Eos reported an $807 million backlog and a pipeline of $24.6 billion, or nearly 112 gigawatt-hours, up 31% from a year earlier. The company said 51% of its pipeline is for projects lasting eight hours or longer, while 32% is related to data centers. Six customers placed orders during the quarter, including four new customers and two repeat customers. The company’s fleet has discharged 6.5 gigawatt-hours cumulatively and completed more than 3.9 million cycles. Its Z3 fleet has operated at an average round-trip efficiency of 78% across a 2,120 state-of-charge window, including both DawnOS-upgraded and non-upgraded units. Mastrangelo said the top end of the fleet’s performance range has exceeded 90%, while the range of results has narrowed. After the quarter, Eos said it received a strategic partnership agreement under the U.S. Department of War’s Golden Dome for America program, signed a 750-megawatt-hour master supply agreement with CAPAC for Germany, Austria and Switzerland, and announced a $100 million purchase order for the first phase of the Blanquilla project in ERCOT. The company also highlighted Frontier Power USA, its joint venture designed to help projects obtain capital and move into construction. Eos said Frontier Power USA initially raised $263 million of gross proceeds to support an estimated $1 billion of project deployment. The platform has a 16-gigawatt-hour opportunity pipeline, including five gigawatt-hours acquired, selected or under active due diligence, and 1.8 gigawatt-hours under construction or approaching full notice to proceed. Mastrangelo said Frontier Power USA’s first projects are expected to be online by the third quarter of 2027. Eos expects to participate through long-term service agreements, its economic ownership in the platform and potential project sales or future platform monetization. Eos Energy Enterprises specializes in the development and deployment of scalable, long-duration energy storage systems designed to support the integration of renewable power and enhance grid reliability. The company's core technology centers on its proprietary zinc hybrid cathode (Znyth™) battery platform, which aims to deliver safe, low-cost, and durable performance for utility, commercial and industrial, and microgrid applications. The company's flagship product, the Aurora™ energy storage system, combines its Znyth™ cells with modular power conversion and controls to offer flexible capacity ranging from one to three hours of discharge duration. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Eos Energy Enterprises Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

This article first appeared on GuruFocus. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Eos Energy Enterprises Inc (NASDAQ:EOSE) achieved record revenue of $68.8 million in Q2 2026, up 351% year-over-year and 21% sequentially, with cube deliveries increasing 207% year-over-year. The company reported its seventh consecutive quarter of gross margin improvement, with adjusted gross margin improving 132 points year-over-year and 7 points sequentially. Eos Energy Enterprises Inc (NASDAQ:EOSE) ended the quarter with $364 million in total cash and achieved nearly 100% free cash flow conversion from operations, with working capital not consuming incremental cash despite 21% sequential revenue growth. The company's fleet has cumulatively discharged 6.5 gigawatt hours of energy, with the Z3 fleet operating at an average round-trip efficiency of 78%, and the top of the performance range has crossed above 90%. Eos Energy Enterprises Inc (NASDAQ:EOSE) secured a strategic partnership agreement under the Golden Dome for America program with the US Department of War, signed a 750 MWh master supply agreement with KPAC covering Germany, Austria, and Switzerland, and received a $100 million purchase order for the Blanquila project in ERCOT. The company's pipeline grew to $24.6 billion (nearly 112 GWh), up 31% year-over-year, with 51% of the pipeline being eight hours or longer and 32% data center related. Manufacturing productivity improved significantly, with direct labor costs per cube declining 20% sequentially, material costs improving 10% sequentially, and scrap dollars down 63% on the same volume compared to last year. The consolidation of manufacturing into the Thornhill facility is expected to deliver an additional 10-15% reduction in conversion costs with a payback period of approximately nine months. Eos Energy Enterprises Inc (NASDAQ:EOSE) has a clear path to over 72 points of adjusted gross margin improvement over the next 12 months, driven by material cost reductions, conversion cost improvements, project and field services optimization, and yield improvements. Frontier Power USA is working as intended, with the first project accounting for roughly 80% of Q2 revenue and expected to deliver mid-teen returns, while the platform has 1.8 GWh under construction or approaching full notice to proceed. Eos Energy Enterprises Inc (NASDAQ:EOSE) narrowed its 2026 revenue guidance to $300 million to $350 million, trading near-term revenue for lower costs as it consolidates manufacturing operations, with Line 1 downtime during the move impacting the upper end of the range. The company reported a gross loss of $48.8 million and an adjusted gross margin of negative 62% in Q2 2026, reflecting continued cost pressures from scaling operations. Adjusted EBITDA loss was $71.4 million with a margin of negative 104%, and the company reported a net loss of $276 million, driven primarily by non-cash fair value adjustments related to warrants and derivative liabilities. The company faces significant customer concentration risk, with roughly 50% of its backlog tied to Frontier Power USA, a related entity, which raises questions about diversification. Thornhill Line 2 contributed only 1% of Q2 production, and the company is operating on one partial shift while validating line performance, indicating the full benefits of the new facility have yet to be realized. Field costs increased due to higher deployment and commissioning activity and accelerated Dawn OS upgrades across the legacy fleet, which weighed on margins and are expected to diminish only by Q4 2026. The company's operational cash use closely matched its adjusted EBITDA loss, and while the burn rate is improving, it has not yet turned positive. Eos Energy Enterprises Inc (NASDAQ:EOSE) faces ongoing project execution risks, as evidenced by the two-year timeline from order to operations for a recent project, with significant time spent on site readiness and third-party equipment delivery outside its scope. The company's reported net loss continues to be volatile due to non-cash mark-to-market adjustments on warrants and derivative liabilities, which can obscure underlying operating performance. The company acknowledged that material cost improvements in Q2 were partly due to tariff-free base paid in prior periods, and excluding that benefit, material costs only improved 1% sequentially, indicating underlying cost pressures remain. Warning! GuruFocus has detected 6 Warning Signs with EOSE. Is EOSE fairly valued? Test your thesis with our free DCF calculator. Q: Can you unpack the updated revenue guidance? Is the low end essentially 1.5 gigawatt hours for the rest of the year just from Thornhill, and does the high end assume Line 1 comes back online at Thornhill? A: CEO Joe Mastrangelo clarified that the low end of the $300 million to $350 million range is based on maintaining the June run rate for the rest of the year. The high end does not require bringing Line 1 online at Thornhill, but rather achieving full 24/7 operations at Thornhill by the end of the fourth quarter. Q: Can you provide more detail on the gross margin walk drivers to reach the 10% gross margins by Q2 of next year, specifically on material cost and project drivers? A: CEO Joe Mastrangelo explained that the path to margin improvement involves three key areas: 1) leveraging the revenue conversion plan to negotiate lower supplier costs, 2) simplifying product design and scaling with suppliers like Jabil to reduce costs, and 3) transitioning from temporary third-party labor to internal EOS employees for field installation and commissioning, similar to the successful strategy used at the Turtle Creek factory. Q: Can you talk about the customer concentration in Q2 revenue and backlog, and how we should expect diversification of the customer base going forward? A: CEO Joe Mastrangelo acknowledged that a significant portion of Q2 revenue came from a project added to Frontier Power USA. He emphasized that the goal is to grow the overall pie rather than just change the percentage split. He highlighted recent wins in Europe (KPAC agreement) and with the U.S. Department of War (Golden Dome program) as key drivers for diversifying the customer base and expanding beyond the Frontier Power relationship. Q: Are you consolidating Line 1 into Thornhill now because of timing of backlog delivery, or because Thornhill's efficiency is critical to driving margin expansion? A: CEO Joe Mastrangelo stated the decision was driven by a combination of factors, primarily simplification and preparation for 2027 scale. While Turtle Creek is performing at nameplate, Thornhill's design is superior, with faster cycle times and fewer single points of failure. The move reduces operational complexity and positions the company for margin expansion in 2027, with a payback period of approximately nine months. Q: When we think about Frontier Power USA and your ownership position, how should we think about its profitability and when does EOS begin to see those profits? A: CEO Joe Mastrangelo explained that Frontier Power USA's profitability will be reported below the line as other income, not as operating profit. As initial projects come online in the second half of 2027, EOS will begin to see the return on its 36% minority investment flow through as other income. Q: Can you provide an update on the data center opportunity and what kind of durations customers are asking for? A: CEO Joe Mastrangelo noted that 32% of the pipeline is data center-related. He distinguished between co-locating with data centers and having storage assets in generating areas to support data center load. He emphasized that data centers view storage as a cost of goods sold, requiring reliability and millisecond response times. Regarding duration, he noted that customers often request multiple cycles of shorter durations that add up to longer total discharge, which plays to EOS's strength in cycling without thermal runaway risk. Q: Is the near-term focus more on grid-level resilience rather than on-site power quality for data centers? A: CEO Joe Mastrangelo declined to handicap which segment is further along, stating that both the co-location and grid-level opportunities are moving well. He expressed pride in the team's work and the customer conversations, but did not characterize one as more advanced than the other. Q: Are you seeing requests in the data center market for shorter duration devices, like one or two hours? A: CEO Joe Mastrangelo explained that the trend is toward multiple cycles and shorter durations that add up to longer total discharge. This plays to EOS's strength of cycling multiple times a day without the thermal runaway risk of other technologies. He reiterated that there will be a diversity of technologies required for different use cases, and EOS has a significant segment where its technology can serve. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

DMC Global (BOOM) came out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of a loss of $0.15 per share. This compares to earnings of $0.12 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +126.67%. A quarter ago, it was expected that this diversified holding company would post a loss of $0.31 per share when it actually produced a loss of $0.28, delivering a surprise of +9.68%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. DMC Global, which belongs to the Zacks Industrial Services industry, posted revenues of $156.95 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 5.36%. This compares to year-ago revenues of $155.49 million. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. DMC Global shares have lost about 18.4% since the beginning of the year versus the S&P 500's gain of 8.5%. While DMC Global has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for DMC Global was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.05 on $155.5 million in revenues for the coming quarter and -$0.29 on $590.17 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Industrial Services is currently in the bottom 33% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Eos Energy Enterprises, Inc. (EOSE), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 5. This company is expected to post quarterly loss of $0.27 per share in its upcoming report, which represents a year-over-year change of +74.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. Eos Energy Enterprises, Inc.'s revenues are expected to be $68.77 million, up 351.3% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report DMC Global (BOOM) : Free Stock Analysis Report Eos Energy Enterprises, Inc. (EOSE) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Eos Energy Enterprises, Inc. (EOSE) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2026. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price. The earnings report, which is expected to be released on August 5, might help the stock move higher if these key numbers are better than expectations. On the other hand, if they miss, the stock may move lower. While management's discussion of business conditions on the earnings call will mostly determine the sustainability of the immediate price change and future earnings expectations, it's worth having a handicapping insight into the odds of a positive EPS surprise. This company is expected to post quarterly loss of $0.27 per share in its upcoming report, which represents a year-over-year change of +74.3%. Revenues are expected to be $68.77 million, up 351.3% from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This is essentially a reflection of how the covering analysts have collectively reassessed their initial estimates over this period. Investors should keep in mind that an aggregate change may not always reflect the direction of estimate revisions by each of the covering analysts. Price, Consensus and EPS Surprise Estimate revisions ahead of a company's earnings release offer clues to the business conditions for the period whose results are coming out. This insight is at the core of our proprietary surprise prediction model -- the Zacks Earnings ESP (Expected Surprise Prediction). The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a more recent version of the Zacks Consensus EPS estimate. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. Thus, a positive or negative Earnings ESP reading theoretically indicates the likely deviation of the actual earnings from the consensus estimate. However, the model's predictive power is significant for positive ESP readings only. A positive Earnings ESP is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold). Our research shows that stocks with this combination produce a positive surprise nearly 70% of the time, and a solid Zacks Rank actually increases the predictive power of Earnings ESP. Please note that a negative Earnings ESP reading is not indicative of an earnings miss. Our research shows that it is difficult to predict an earnings beat with any degree of confidence for stocks with negative Earnings ESP readings and/or Zacks Rank of 4 (Sell) or 5 (Strong Sell). For Eos Energy Enterprises, the Most Accurate Estimate is higher than the Zacks Consensus Estimate, suggesting that analysts have recently become bullish on the company's earnings prospects. This has resulted in an Earnings ESP of +8.26%. On the other hand, the stock currently carries a Zacks Rank of #3. So, this combination indicates that Eos Energy Enterprises will most likely beat the consensus EPS estimate. While calculating estimates for a company's future earnings, analysts often consider to what extent it has been able to match past consensus estimates. So, it's worth taking a look at the surprise history for gauging its influence on the upcoming number. For the last reported quarter, it was expected that Eos Energy Enterprises would post a loss of$0.28 per share when it actually produced earnings of $0.12, delivering a surprise of +142.86%. Over the last four quarters, the company has beaten consensus EPS estimates just once. An earnings beat or miss may not be the sole basis for a stock moving higher or lower. Many stocks end up losing ground despite an earnings beat due to other factors that disappoint investors. Similarly, unforeseen catalysts help a number of stocks gain despite an earnings miss. That said, betting on stocks that are expected to beat earnings expectations does increase the odds of success. This is why it's worth checking a company's Earnings ESP and Zacks Rank ahead of its quarterly release. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported. Eos Energy Enterprises appears a compelling earnings-beat candidate. However, investors should pay attention to other factors too for betting on this stock or staying away from it ahead of its earnings release. Among the stocks in the Zacks Industrial Services industry, W.W. Grainger (GWW), is soon expected to post earnings of $11.28 per share for the quarter ended June 2026. This estimate indicates a year-over-year change of +13.1%. This quarter's revenue is expected to be $4.95 billion, up 8.8% from the year-ago quarter. Over the last 30 days, the consensus EPS estimate for W.W. Grainger has been revised 0.2% down to the current level. Nevertheless, the company now has an Earnings ESP of +2.50%, reflecting a higher Most Accurate Estimate. This Earnings ESP, combined with its Zacks Rank #2 (Buy), suggests that W.W. Grainger will most likely beat the consensus EPS estimate. Over the last four quarters, the company surpassed consensus EPS estimates three times. Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Eos Energy Enterprises, Inc. (EOSE) : Free Stock Analysis Report W.W. Grainger, Inc. (GWW) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

PITTSBURGH, July 23, 2026 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) ("Eos" or the “Company”), America’s leading innovator in designing, manufacturing, and providing zinc-based long duration energy storage (LDES) systems sourced and manufactured in the United States, today announced results of its rights offering, which expired at 5:00 p.m. Eastern Time on July 21, 2026 (the “Expiration Date”). Rights that were not exercised by 5:00 p.m. Eastern Time on the Expiration Date have expired and are no longer exercisable. Pursuant to the rights offering, the Company distributed Rights to acquire an aggregate of 27,367,171 units (the “Units”) on July 2, 2026 (the “Distribution Date”) at a price per Unit of $5.481. Each Unit consists of one share of the Company’s common stock and 0.4388 of a warrant to purchase one share of the Company’s common stock at an exercise price of $5.481 per whole share. Based on a tabulation by Broadridge Corporate Issuer Solutions, Inc. (the “Subscription Agent”), as of the Expiration Date, the Company received subscriptions for 6,885,218 Units offered in the rights offering. The common stock and warrants comprising the Units will separate upon the closing of the rights offering and will be issued individually. The Company expects the Subscription Agent to distribute such shares and warrants, as well as the sale proceeds, on or about August 3, 2026. The Company expects to receive aggregate gross proceeds from the rights offering of $37.7 million. The Company elected to conduct the rights offering to provide an opportunity for holders of its common stock and holders of its warrants to purchase common stock issued on April 14, 2023, May 17, 2023, December 19, 2023 and November 21, 2025 as of 5:00 pm New York time on July 1, 2026 to participate in the equity financing on a pro rata basis. Including proceeds from the rights offering, the previously announced investment from Hudson Bay Capital Management, and the commitment from Cerberus Capital Management, approximately $263 million in gross proceeds have been raised in support of Frontier Power USA. This exceeds the Company’s target at the announcement of the planned formation of Frontier Power USA and is expected to initially support more than $1 billion of deployable project capital. The Company has applied to have the Warrants admitted to trading on the Nasdaq Capital Market under the symbol “EOSEW”. However, no assurance can be given that such listing application will be approved. If the Warrants listing application is not approved, the Warrants may not be traded on Nasdaq when issued, or at all. The Company conducted the rights offering pursuant to an effective shelf registration statement, including a base prospectus, under the Securities Act. The rights offering is being made only by means of a separate prospectus supplement (and the accompanying base prospectus), which contains the detailed terms of the rights offering and has been filed with the SEC on July 2, 2026. Copies of the prospectus supplement and accompanying prospectus relating to the rights offering may be obtained for free by visiting the Securities and Exchange Commission’s website at www.sec.gov. Questions about the rights offering and requests for copies of the prospectus relating to the rights offering may be directed to Sodali & Co., the Company’s information agent for the rights offering, at the address and phone number provided at the end of this release. The completion of the rights offering remains subject to the satisfaction of certain conditions. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor will there be any sale of securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Eos Energy Enterprises Eos is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. The Company’s BESS features the innovative Znyth™ technology, a proven chemistry with readily available non-precious earth components, that is the pre-eminent safe, non-flammable, secure, stable, and scalable alternative to conventional technology. The Company’s BESS is ideal for utility-scale, microgrid, commercial, and industrial long-duration energy storage applications (i.e., 4 to 16+ hours), and provides customers with significant operational flexibility to effectively address current and future increased grid demand and complexity. Contacts        Eos Energy Enterprises, Inc. Information AgentSodali & Co.(203) 658-9400 (For Banks and Brokers)(833) 225-0490 (Toll Free)[email protected] Forward Looking Statements and Important Information Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding the rights offering, and our contemplated investment in Frontier Power USA. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and information currently available to, them. Because such statements are based on expectations as to future results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: changes adversely affecting the business in which we are engaged; our ability to forecast trends accurately; our ability to generate cash, service indebtedness and incur additional indebtedness; our ability to raise financing in the future; our ability to obtain stockholder approval of an increase to our authorized common stock; our ability to complete a rights offering to raise funds for purposes of capitalizing Frontier Power USA, including satisfying applicable conditions to the rights offering; risks associated with the joint venture, including the risk that the joint venture will not be completed on the anticipated terms if at all; risks associated with the credit agreement with Cerberus, including risks of default, and dilution of outstanding common stock; our customers’ ability to secure project financing; the amount of final tax credits available to our customers or to Eos pursuant to the Inflation Reduction Act, including potential impacts from any repeal or modifications of the legislation; the timing and availability of future funding under the Department of Energy Loan Facility; our ability to continue to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; fluctuations in our revenue and operating results; competition from existing or new competitors; our ability to convert firm order backlog and pipeline to revenue; risks associated with security breaches in our information technology systems; risks related to legal proceedings or claims; risks associated with evolving energy policies in the United States and other countries and the potential costs of regulatory compliance; risks associated with changes to the U.S. trade environment; our ability to maintain the listing of our shares of common stock on NASDAQ; our ability to grow our business and manage growth profitably, maintain relationships with customers and suppliers and retain our management and key employees; risks related to adverse changes in general economic conditions, including inflationary pressures and increased interest rates; risk from supply chain disruptions and other impacts of geopolitical conflict; changes in applicable laws or regulations; the possibility that Eos may be adversely affected by other economic, business, and/or competitive factors; other factors beyond our control; risks related to adverse changes in general economic conditions; and other risks and uncertainties indicated. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in the Company’s most recent filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Moreover, the Company operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Should one or more of these risks or uncertainties materialize or should any of our assumptions prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

Preliminary results reflect accelerating manufacturing scale and commercial execution as Eos enters the second half of 2026 with strong momentum PITTSBURGH, July 15, 2026 (GLOBE NEWSWIRE) -- Eos Energy Enterprises, Inc. (NASDAQ: EOSE) (“Eos” or the “Company”), America’s leading innovator in designing, manufacturing, and providing zinc-based long-duration energy storage (LDES) systems sourced and manufactured in the United States, today announced preliminary financial results for the second quarter ended June 30, 2026. Based on preliminary financial information, Eos currently expects: Revenue of $68 million to $69 million, representing the highest quarterly revenue in its history, driven by a more than three-fold increase in shipments compared to the prior-year period. Revenue recognized during the first half of 2026 surpassed the Company's total revenue for 2025. Gross margin loss between 69% and 73%, reflecting continued progress in manufacturing scale and operational execution. The second quarter marked the Company's transition to operating two commercial production lines across two manufacturing facilities. Battery Line 2 commenced commercial production in mid-June and has delivered strong initial results, achieving higher yields and faster cycle time than Battery Line 1 as it operates in the early stages of production ramp. While start-up costs and lower initial production volumes are expected to create near-term cost absorption pressure, as is typical during the early stages of a production ramp-up, the expansion significantly increases capacity and establishes the foundation for stronger unit economics and expected margin improvement over time. Backlog of approximately $807 million as of June 30, 2026, representing a Company record and an increase of approximately 25% from the prior quarter. Growth in backlog reflects strong commercial momentum, with new orders booked exceeding shipments recognized during the quarter and continued conversion of the Company’s commercial pipeline into contracted business, further enhancing expected revenue visibility. Total Cash, including restricted cash, of approximately $364 million as of June 30, 2026, with approximately $78 million of customer collections received during the quarter, exceeding quarterly revenue. "Our preliminary second quarter results reflect a quarter of disciplined execution and continued progress across the business," said Joe Mastrangelo, Chief Executive Officer. "We expect to deliver record quarterly revenue and record backlog, demonstrating that the investments we have made in our manufacturing platform continue to translate into stronger topline and commercial performance. With Battery Line 2 now in commercial production, Frontier Power USA progressing through key project milestones, and continued conversion of commercial opportunities into executable projects, we believe Eos is well positioned to drive growth throughout the second half of 2026 and beyond.” The second quarter marked a period of strong operational execution for Eos. The Company commenced commercial production on Battery Line 2 at its Thorn Hill facility, expanding manufacturing capacity and advancing toward its targeted 4 GWh annual run-rate capacity by year-end. Eos also successfully completed Site Acceptance Testing for 50% of its bipolar automation line, an important milestone in the automation of its manufacturing process that enables production from raw materials through finished batteries. Full commissioning of all bi-polar machines is expected in July 2026. As manufacturing capacity continues to scale and commercial demand converts into contracted backlog and revenue, Eos believes it is entering its next phase of growth with increasing operational leverage, improving revenue visibility and a stronger financial foundation. Expanded manufacturing capabilities, growing commercial momentum, and continued project execution position the Company to capitalize on what it believes is increasing demand for American-made long-duration energy storage solutions. Conference Call Details Eos will release its full second quarter 2026 financial results before the U.S. market opens on August 5, 2026. A conference call to discuss its results will take place the same morning at 8:30 a.m. Eastern Time. The live webcast of the earnings call will be available on the “Investor Relations” page of the Company’s website at Eos Investors or may be accessed using this link (Registration Link). To avoid delays, we encourage participants to join the conference call fifteen minutes ahead of the scheduled start time. The conference call replay will be available via webcast through Eos’ investor relations website for twelve months following the live presentation. The webcast replay will be available from approximately 11:30 a.m. Eastern Time on August 5, 2026, and can be accessed by visiting Eos Investors. Eos partners with Say Technologies to allow retail and institutional shareholders to submit and vote on questions ahead of the earnings call. A selection of key questions applicable to the broad investor base may be addressed live during the call, offering shareholders an opportunity to engage with Eos management. Beginning on July 20, 2026, at 9:00 a.m. Eastern Time, registered shareholders will be able to submit questions via the Say Technologies Q&A Platform which will remain open until 5:00 p.m. Eastern Time on August 2, 2026. For any support inquires shareholders may email [email protected]. About Eos Energy Enterprises Eos is accelerating the shift to American energy independence with positively ingenious solutions that transform how the world stores power. The Company’s BESS features the innovative Znyth™ technology, a proven chemistry with readily available non-precious earth components, that is the pre-eminent safe, non-flammable, secure, stable, and scalable alternative to conventional technology. The Company’s BESS is ideal for utility-scale, microgrid, commercial, and industrial long-duration energy storage applications (i.e., 4 to 16+ hours) and provides customers with significant operational flexibility to cost effectively address current and future increased grid demand and complexity. For more information about Eos (NASDAQ: EOSE), visit eose.com. ContactsInvestors: [email protected]: [email protected] Forward-Looking Statements and Important Information Except for the historical information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, but are not limited to, statements regarding preliminary revenue, gross margin, adjusted gross margin, backlog, total cash, customer collections, manufacturing capacity, Battery Line 2 performance, expected commissioning activities, anticipated throughput and efficiency improvements, expected revenue visibility, and the Company’s ability to achieve its operational, and commercial and production-capacity objectives, the extent to which any purchase orders, capacity reservations, or project pipeline may ultimately result in executed contracts, construction activities, or revenue; and the anticipated benefits of the FPUSA platform and the Company’s relationships with developers. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are based on our management’s beliefs, as well as assumptions made by, and the information currently available to, them. Because such statements are based on expectations as to future financial and operating results and are not statements of fact, actual results may differ materially from those projected. Factors which may cause actual results to differ materially from current expectations include, but are not limited to: the preliminary financial information remains subject to changes and finalization based upon management’s ongoing review of results for the second quarter ended June 30, 2026 and the completion of all quarter closing procedures; risks related to the development, financing, construction, and commissioning of projects, including timelines and the ability of counterparties to perform; the timing, issuance, and size of future project-level purchase orders and the conversion of framework agreements, capacity reservations, backlog, and pipeline into revenue; risks related to FPUSA, including its ability to source, acquire, finance, and execute projects, and risks related to Eos’ intended equity interest in FPUSA and any related-party considerations; risks associated with the credit agreement with Cerberus, including risks of default, dilution of outstanding Common Stock, and contractual lockup of shares; our customers’ and project counterparties’ ability to secure project financing; changes adversely affecting the business in which we are engaged; our ability to generate cash, service indebtedness, and raise financing in the future; our ability to continue to develop efficient manufacturing processes to scale and to forecast related costs and efficiencies accurately; risks related to the preliminary nature of the financial information included in this release, including the risk that final results may differ materially from the preliminary results presented herein following completion of quarter-end closing procedures, management review, Audit Committee review, independent auditor review procedures, and finalization of the Company’s financial statements and periodic report; risks related to manufacturing ramp-up, including start-up costs, lower initial production volumes, cost absorption, equipment commissioning, battery line performance, throughput, yield, scrap, labor, materials, supply chain availability and operational efficiency; the amount of final tax credits available pursuant to the Inflation Reduction Act; the timing and availability of future funding under the Department of Energy Loan Facility; competition from existing or new competitors; risks related to legal proceedings or claims; risks associated with evolving energy policies in the United States and the potential costs of regulatory compliance; changes in applicable laws or regulations; our ability to maintain the listing of our shares of common stock on NASDAQ; our ability to grow our business and manage growth profitably and to retain management and key employees; risks related to adverse changes in general economic conditions, including inflationary pressures and increased interest rates; risk from supply chain disruptions and other impacts of geopolitical conflict; and other risks and uncertainties. The forward-looking statements contained in this press release are also subject to additional risks, uncertainties, and factors, including those more fully described in the Company’s most recent filings with the Securities and Exchange Commission, including the Company’s most recent Annual Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K. Further information on potential risks that could affect actual results will be included in the subsequent periodic and current reports and other filings that the Company makes with the Securities and Exchange Commission from time to time. Moreover, the Company operates in a very competitive and rapidly changing environment, and new risks and uncertainties may emerge that could have an impact on the forward-looking statements contained in this press release. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and, except as required by law, the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise. Key Metrics Backlog. Our backlog represents the amount of revenue that we expect to realize from existing agreements with our customers for the sale of our battery energy storage systems and performance of services. The backlog is calculated by adding new orders in the current fiscal period to the backlog as of the end of the prior fiscal period and then subtracting the shipments in the current fiscal period. If the amount of an order is modified or cancelled, we adjust orders in the current period and our backlog accordingly, but do not retroactively adjust previously published backlogs. There is no comparable US-GAAP financial measure to backlog. We believe that the backlog is a useful indicator regarding the future revenue of our Company. Pipeline. Our pipeline represents projects for which we have submitted technical proposals or non-binding quotes plus letters of intent (“LOI”) or firm commitments from customers. Pipeline does not include lead generation projects. Booked Orders. Booked orders are orders where we have legally binding agreements with a Purchase Order (“PO”), or Master Supply Agreement (“MSA”) executed by both parties.

Eos Energy Enterprises, Inc. (NASDAQ:EOSE) last week reported its latest first-quarter results, which makes it a good time for investors to dive in and see if the business is performing in line with expectations. Although revenues of US$57m were in line with analyst expectations, Eos Energy Enterprises surprised on the earnings front, with an unexpected (statutory) profit of US$2.36 per share a nice improvement on the losses that the analystsforecast. Following the result, the analysts have updated their earnings model, and it would be good to know whether they think there's been a strong change in the company's prospects, or if it's business as usual. We thought readers would find it interesting to see the analysts latest (statutory) post-earnings forecasts for next year. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. Taking into account the latest results, the consensus forecast from Eos Energy Enterprises' eight analysts is for revenues of US$306.2m in 2026. This reflects a substantial 91% improvement in revenue compared to the last 12 months. Eos Energy Enterprises is also expected to turn profitable, with statutory earnings of US$3.01 per share. Before this earnings announcement, the analysts had been modelling revenues of US$303.7m and losses of US$0.63 per share in 2026. While there's been no material change to the revenue estimates, there's been a pretty clear upgrade to earnings estimates, with the analysts expecting a per-share profit compared to previous expectations of a loss. So it seems like the latest results have led to a significant increase in sentiment for Eos Energy Enterprises. Check out our latest analysis for Eos Energy Enterprises The consensus price target rose 6.5% to US$9.43, suggesting that higher earnings estimates flow through to the stock's valuation as well. There's another way to think about price targets though, and that's to look at the range of price targets put forward by analysts, because a wide range of estimates could suggest a diverse view on possible outcomes for the business. The most optimistic Eos Energy Enterprises analyst has a price target of US$18.00 per share, while the most pessimistic values it at US$5.00. With such a wide range in price targets, analysts are almost certainly betting on widely divergent outcomes in the underlying business. As a result it might not be a great idea to make decisions based on the consensus price target, which is after all just an average of this wide range of estimates. These estimates are interesting, but it can be useful to paint some more broad strokes when seeing how forecasts compare, both to the Eos Energy Enterprises' past performance and to peers in the same industry. The analysts are definitely expecting Eos Energy Enterprises' growth to accelerate, with the forecast 136% annualised growth to the end of 2026 ranking favourably alongside historical growth of 63% per annum over the past five years. By contrast, our data suggests that other companies (with analyst coverage) in a similar industry are forecast to grow their revenue at 14% per year. Factoring in the forecast acceleration in revenue, it's pretty clear that Eos Energy Enterprises is expected to grow much faster than its industry. The most important thing to take away is that there's been a clear step-change in belief around the business' prospects, with the analysts now expecting Eos Energy Enterprises to become profitable next year. Fortunately, they also reconfirmed their revenue numbers, suggesting that it's tracking in line with expectations. Additionally, our data suggests that revenue is expected to grow faster than the wider industry. We note an upgrade to the price target, suggesting that the analysts believes the intrinsic value of the business is likely to improve over time. Following on from that line of thought, we think that the long-term prospects of the business are much more relevant than next year's earnings. We have estimates - from multiple Eos Energy Enterprises analysts - going out to 2028, and you can see them free on our platform here. It is also worth noting that we have found 3 warning signs for Eos Energy Enterprises that you need to take into consideration. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Eos Energy Enterprises (NASDAQ:EOSE), a zinc-based energy storage provider, closed Wednesday at $8.28, up 2.22%. The stock initially moved 20% higher after a Q1 earnings beat, reaffirmed 2026 revenue guidance, and the announcement of a Cerberus-backed Frontier Power USA venture. However, the stock gave back most of its gains throughout the day as the market digested the news. Trading volume reached 126.8 million shares, about 378% above its three-month average of 26.6 million shares. Eos Energy Enterprises IPO'd in 2020 and has fallen 18% since going public. The S&P 500 rose 0.59% Wednesday to finish at 7,445, while the Nasdaq Composite gained 1.20% to close at 26,402. Among electrical equipment & parts names, Plug Power at $3.96 (+11.24%) and Bloom Energy finished at $289.72 (+3.22%), underscoring strong interest in clean-energy hardware. EOS Energy Enterprise’s stock popped to open the day after it reported that Q1 revenue grew 445% year over year and that it formed a partnership with Cerebrus Capital Management. The two companies combined to form Frontier Power USA, which will deploy EOS’s zinc-bromide-based Z3 technology to deliver long-duration battery energy storage to customers seeking “bring-your-own-power” solutions (such as data centers). Additionally, EOS continued to successfully scale its manufacturing, with cube output up 467% while labor and overhead per cube decline 47% and 43%, respectively. As a young, scaling manufacturer, EOS will remain highly volatile -- especially considering it is one of the market’s most heavily shorted stocks. Before you buy stock in Eos Energy Enterprises, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Eos Energy Enterprises wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you’d have $472,744!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you’d have $1,353,500!* Now, it’s worth noting Stock Advisor’s total average return is 991% — a market-crushing outperformance compared to 207% for the S&P 500. Don't miss the latest top 10 list, available with Stock Advisor, and join an investing community built by individual investors for individual investors. See the 10 stocks » *Stock Advisor returns as of May 13, 2026. Josh Kohn-Lindquist has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Bloom Energy. The Motley Fool has a disclosure policy. Stock Market Today, May 13: Eos Energy Initially Spikes Then Gives Back Returns After Q1 Earnings Beat was originally published by The Motley Fool