Why EOS Energy Soared as Much as 11% Today
It's not only the company's growing backlog that charged up the bulls this morning.
Beginning the trading week on an optimistic note, EOS Energy (EOSE) experienced a surge in its stock price at the opening bell. The energy storage firm released preliminary third-quarter 2026 financial results earlier today, which fueled the bullish sentiment. As of 1:24 p.m. ET, shares of EOS Energy were down 2.3%, reversing from an earlier 11% increase.
The company forecasted revenue of $82 million to $83 million for Q3 2026, marking a year-over-year top-line growth of 169% to 172%. Management also projected a gross profit margin of negative 55% to negative 53%. If EOS Energy manages to meet the middle of this guidance, it would indicate a 17 percentage point improvement compared to Q2 2026.
Alongside the profit on the income statement, investors were pleased to learn about the company's increasing backlog. As of September 2026, EOS Energy had a backlog of $765 million, which represented an 18.8% increase from the $644 million backlog at the same period in the previous year. The company plans to disclose its Q3 2026 financial results prior to the market opening on November 5.
Although the initial reaction to EOS Energy's announcement of preliminary Q3 2026 financial results was positive, excitement has cooled down since then. As with many growth stocks, volatility is typical, and those with EOS Energy stock in their portfolios should ignore the current noise and concentrate on the company's Q3 2026 earnings report.
If the company reports enhancements that align with its expectations, investors would have a compelling reason to consider purchasing the stock. For better investment decisions, explore The Motley Fool's premium services.
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